Commercial real estate
* CenterPoint Properties Trust tapped Eastdil Secured and Colliers International to market a 27-property industrial portfolio that is expected to sell for as much as $500 million, Real Estate Alert reported. The portfolio spans 5.9 million square feet, with 3.3 million square feet spread across 16 buildings in Greater Chicago, and the remainder is in Milwaukee and Racine, Wis.
The properties are 94% leased with a weighted average lease term of 4.4 years. CenterPoint wants to sell the warehouses as a package but will consider bids for individual assets or chunks of the portfolio, according to the report.
* Amazon.com Inc. confirmed that it has leased more than 300,000 square feet at Hines' 17-story Summit III office tower being developed in downtown Bellevue, Wash., the Puget Sound Business Journal reported. The lease takes Amazon's confirmed footprint in Bellevue to over 1.6 million square feet, comprising 17% of the central business district's office inventory. The report said that the footprint does not include the over 1 million-square-foot Bellevue 600 tower that Amazon plans to develop itself.
* Swiss foundation AFIAA paid an undisclosed sum for its second New York property, IPE Real Assets reported. Vanbarton Group sold the 45 W. 45th St. office and retail property in Manhattan, N.Y.'s Midtown neighborhood, which has a total floor space of 133,100 square feet.
* An affiliate of real estate investment firm Alliance HSP Spartanburg LLC acquired the One Financial Plaza office tower at 100 Southeast Third Ave. in Fort Lauderdale, Fla., from Walton Street Capital and Crocker Partners for $81.9 million, The Real Deal reported.
Terra Funding-OFP LLC, another firm tied to Alliance, bought the land underneath the property for $35.1 million and signed a 99-year ground lease with the new owner.
* Los Angeles and its neighboring markets are expected to see a record of about $12 billion in industrial investments in 2019, with sales volume increasing to over $7.4 billion, up 5.5% year over year, through August, The Real Deal reported, citing a market report from CBRE. Should this pace continue, 2019 would mark the fourth-straight year of increased investment volume in Los Angeles area industrial assets.
* Tennessee Consolidated Retirement System will invest $350 million in industrial-focused real estate funds, including a $100 million commitment to the Prologis Target US Logistics Fund, IPE Real Assets reported. It may add a further $150 million to the fund in the future.
The retirement system will also commit $100 million to Exeter Property Group's US Industrial Value Fund V, which is targeting $1.6 billion, the publication added.
* Developers Merlone Geier and Carmel Partners sold the 330-unit The Village Residences apartment complex in Mountain View, Calif., to an affiliate of Brookfield Property Group, the Silicon Valley Business Journal reported, citing Santa Clara County property records.
The three-building complex is 95% leased and has 43,000 square feet of ground-floor retail space.
* Social media website Reddit leased 78,031 square feet at Hudson Pacific Properties Inc.'s 1455 Market St. in San Francisco for its headquarters, the San Francisco Business Times reported, citing confirmation from a company spokesperson. Other tenants in the 1 million-square-foot office building include Square Inc. and Uber.
* Coworking operator Industrious has leased 47,000 square feet at the Fashion District Philadelphia mall that recently reopened after a $400 million redevelopment by Pennsylvania Real Estate Investment Trust and Macerich Co., the Philadelphia Business Journal reported. The report noted that Industrious has a partnership with mall owner Macerich and leases space at four of its other properties.
* Rents for class A office space in Atlanta increased more than 4% year over year to $30.50 per square foot in the third quarter, the Atlanta Business Chronicle reported, citing Newmark Knight Frank. Average asking rents for all office space in the city reached a record $27.66 per square foot, marking the fourth consecutive quarter when asking rents remained above $27 per square foot. The report noted that Atlanta is outperforming the broader U.S. in terms of office rents.
After the bell
* Xenia Hotels & Resorts Inc. is looking to sell a portfolio of seven Kimpton hotels and tapped Newmark Knight Frank to advise on the potential transaction, Bloomberg News reported, citing people with knowledge of the matter.
* Equinix Inc. is in a late stage of discussions to acquire Axtel SAB de CV's data centers for approximately $200 million as part of its expansion plan in Mexico, Bloomberg News reported, citing people with knowledge of the matter.
Housing
* Homebuilder stocks are getting attention from investors after mortgage rates eased following the Federal Reserve's interest rate cut July, The Wall Street Journal reported. Lennar Corp.'s shares were up 3.8% on Oct. 2, reaching a 52-week high. The broader S&P 500, meanwhile, declined 1.9%. Concerns of a weakening housing market and a downturn in economic growth pulled down the shares of homebuilding companies in 2018.
NVR Inc. and PulteGroup Inc. are on track to reach 52-week highs after their shares, which fell 2.3% and 0.6%, respectively, in 2018, rose at least 39% in 2019, the publication said.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng jumped 0.26% to 26,110.31, while the Nikkei 225 dropped 2.01% to 21,341.74.
In Europe, around midday, the FTSE 100 dropped 0.56% to 7,082.38, and the Euronext 100 was up 0.31% to 1,056.09.
On the macro front
The challenger job-cut report, the jobless claims report, PMI services index, the factory orders report, ISM non-manufacturing index, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
Now featured on S&P Global Market Intelligence
Data Dispatch: NAV Monitor: REITs end Q3 trading at 2.3% median discount to NAV: Chart Watch: The healthcare REIT sector continued to trade at the largest median premium to NAV, at 28.5%, while the regional mall sector ended the quarter at a median 38.9% discount to NAV, the largest discount of any REIT property sector.
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