trending Market Intelligence /marketintelligence/en/news-insights/trending/Q1_jWrFi9ih6CwAiZDupZw2 content esgSubNav
In This List

Zynga scraps San Francisco HQ sale; plans in for Atlanta's 2nd tallest tower


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback


Infographic: The Big Picture 2023 Issuer & Investor Relations Outlook

Zynga scraps San Francisco HQ sale; plans in for Atlanta's 2nd tallest tower

Commercial real estate

*Liberty Property Trustsigned a deal for theconstruction of American Water's new headquarters building at One Water Streetin Camden, N.J. The project marks the first commercial development in Liberty's$1 billion mixed-use projectknown as The Camden Waterfront, which will include a 1.5 million-square-footoffice development with retail, hotel and residential components.

*Online gaming developer Zynga is reportedly scrapping plans to sell and leaseback its 670,000-square-foot headquarters in San Francisco, accordingto the New York Post. Located in theDesign District, the seven-story building was purchased for $228 million in2012, and was expected to go for more than $500 million, the paper said, citingunnamed sources.

*Olympia Heights Management unveiled plans for an approximately 382-unitresidential skyscraper of up to 74 stories in Atlanta's midtown district, Midtown Patch reported.The project, called 98 Fourteenth Street, is slated to be the city's secondtallest skyscraper, and is the first phase of a master planned development, thereport said.

*Total multifamily investment sales in New York City jumped 24% year over yearin May, with the dollar volume totaling nearly $1.2 billion, The Real Deal reported,citing Ariel Property Advisors.

*Crescent Communities' plans for the next phase of its 37-acre development sitecalled The Village at Research Park, in Charlotte, N.C., includes 300apartments, 75,000 square feet of shops and restaurants and a 200-room hotel, The Charlotte Observer reported,citing a rezoning request.

Thecompany previously sold a 312-unit apartment community in the first phase ofthe development, formerly known as Alexander Park, for $52.3 million, thereport noted.

* The Charlotte Observer also reported,citing a rezoning request made public, that Pulte Home Corp. plans to build amixed-use project in the Steele Creek neighborhood of Charlotte. The plansinclude up to 292 multifamily residences, 550 single-family homes and 80,000square feet of non-residential space including shops, the report said.

*Mason Dixon Properties LLC filed plans for a roughly 520,000-square-footwarehouse and distribution development in Louisville, Ky., that will alsoinclude office space, while another group submitted a proposal to build twowarehouses totaling 325,000 square feet, LouisvilleBusiness First reported,citing documents filed with the city.

*Canada's Financial Post featured a reporton soaring office vacancies in downtown Calgary, Alberta, where commercialreal-estate firms estimate the vacancy rate to be around 22%. The report saidthe area's "near-empty skyscrapers" and more than 2 million squarefeet of anticipated new delivery means the soft market conditions could lastfor up to a decade.

After the bell

*Funds affiliated with ApolloGlobal Management LLC launcheda cash tender offer for all outstanding shares of aspart of a planned buyoutof the timeshare operator.


*Second-quarter home sales in MiamiBeach and the barrier islands fell 24.7% year over year, and were down12.5% in Miami's coastalmainland, according to quarterly reports from Douglas Elliman Real Estateand Miller Samuel Real Estate Appraisers & Consultants. The figures accountfor both condo and single-family home sales.

Theaverage sales price in Miami Beach jumped 12.1% year over year, surpassing the$1 million mark.

*Boulder, Colo., saw the average sale prices of single-family homes cross the $1million mark in the first half, after jumping 9% year over year, Boulder Daily Camera reported,citing D. B. Wilson at Re/Max of Boulder.


*Red Rock Resorts Inc.,formerly known asStation Casinos, filed plans to develop a casino in Reno, Nev., that could costup to $70 million, VegasInc. reported.

The day ahead

Early morning futures indicators pointed to a lower openingfor the U.S. market.

In Asia, the Hang Seng increased 0.46% to 21,659.25, and theNikkei 225 was up 0.68% to 16,497.85.

In Europe, around midday, the FTSE 100 was down 0.37% to6,629.85, and the Euronext 100 was down 0.74% to 861.29.

On the macro front

The consumer price index, the retail sales report, theEmpire State manufacturing survey, the industrial production report, thebusiness inventories report and the consumer sentiment report are due out today.

Now featured

: Cloud-based software solutions aredisrupting traditional data center leasing dynamics and pose a potential threatto the business, an industry observer said.

: The July 14 edition of North American property newsroundup also features development projects by DCT Industrial and CyrusOne.

: Aggregate deal value for the five announced deals totaled$25.61 billion, the largest amount seen in a first half since 2007.

: This feature presents a weeklyrundown of recent significant management and board changes and personnel movesin the North American real estate industry, including U.S. REITs and REOCs,homebuilders, and gaming operators.

The Daily Dose is updated asof 7:30 a.m. ET. Some external links may require a subscription. Articles andlinks are correct as of publication time.