Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
2016 marked a decline in investment sales volumes, By Diana Bell, NREIOnline.com
Key Excerpt:
“Figures from real estate research firm Real Capital Analytics (RCA) show approximately $488.6 billion in 2016 transactions, with $366 billion of that figure flowing from single asset sales. Seeing a decline in portfolio and corporate-level activity, RCA Senior Vice President Jim Costello notes that ‘in 2016, people pulled back from making the biggest bets.’”
New apartment, grocery store planned across from Avondale MARTA station, By Douglas Sams, Atlanta Business Chronicle
Key Excerpt:
“Alliance Realty Services LLC wants to rezone almost nine acres at East Ponce de Leon Avenue and North Arcadia Avenue for up to 270 apartments and a grocery store, according to an application to DeKalb County. The project would also include additional retail space.”
Brookhaven approves Dresden Village mixed-use project, By Amy Wenk, Atlanta Business Chronicle
Key Excerpt:
“The 3.7-acre property on Dresden Drive will include a four-story apartment building with ground-floor retail, seven townhomes and the Dixie Moon restaurant from Atlanta chef Scott Serpas.”
Netflix and total returns: Data center REITs benefit from media consumption, by Andrew Howard-Johnson, Urban Land Institute
Key Excerpt:
“Data center real estate investment trusts (REITs) have been the best-performing sector over the past two years, posting total returns of 28.36 percent in 2015 and 26.41 percent in 2016. Only the single-family home sector at 26.65 percent and the industrial sector at 30.72 percent achieved better returns last year. Once considered a fringe sector, data centers have charged onto the center stage as internet use and data consumption have skyrocketed.”
Diana Food plans $50M facility in Georgia, By Evelina Croitoru, Commercial Property Executive
Key Excerpt:
“The roughly 90,000-square-foot property will be located within the Banks Crossing Business Park and will encompass office, manufacturing and warehouse space on approximately 40 acres. The plant’s main function will be meat processing. Diana Food mass-produces a wide range of clean ingredients with a guarantee of product quality, traceability and food safety. The company currently has nine production plants, 11 sales offices and seven research and development facilities.”