United States Commercial Real Estate News

Recent industry report about United States Commercial Real Estate company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ United States Commercial Real Estate Market industry experts.

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United States Commercial Real Estate News

In March 2022, Progressive Real Estate Partners, the leading retail real estate brokerage firm in the Inland Empire, announced the USD 8 million-worth sale of The Grove. This property is a Circle K anchored neighborhood center located in Orange St. in Redlands, CA. The 39,339-square-foot property is situated at the signalized intersection of Orange Street and San Bernardino Avenue, just minutes from the I-10 and I-210 freeways and the University of Redlands.

In February 2022, Shannon Waltchack (SW) acquired a 23,150 sq. ft shopping center Gateway Plaza in Bloomingdale, IL - the sixth acquisition in SW's latest fund. The center is 100% occupied by a mix of medical, service, and food tenants, including Aspen Dental, LensCrafters, and McAlister's Deli.

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  • November 2023: Saudi Ports Authority 'Mawani' and CMA CGM launched a new logistics park in Jeddah Islamic Port with a total area of more than 130,000 square meters and an investment value exceeding SAR 487 million (USD 12.9 million) over the project's duration.
  • February 2023: The Saudi Ports Authority signed an agreement worth SAR 1 billion (USD 0.26 billion) with the Jeddah Chamber of Commerce and Industry to develop an integrated logistics area in the Al-Khumra region south of Jeddah. The integrated logistics zone spans 3 million sq. m divided into three sub-areas of shared modular warehouses, single warehouses, large yards, and on-demand warehouses.
  • July 2023: Spring Cypress senior living site expansion is set to open at the end of 2024 and will consist of three phases. The first phase of the expansion will include 19 independent-living, two-bedroom cottages. The second phase will include 24 townhomes. The third phase will feature 95 apartments. The final phase will feature a resort with several luxury amenities.
  • Apr 2023: For seniors looking for innovative, high-quality care, Avista Senior Living is transitioning away from its SafelyYou partnership to empower safer, more personalized dementia care with real-time, AI video and remote clinical experts 24/7.
  • February 2024: Wood Partners, the 4th-largest real estate developer in the United States, sold its property management business for its 38,000+ units in 17 states to Greystar (Charleston, South Carolina), the country's largest apartment management company.
  • November 2023: RealPage Inc. acquired On-site Managers Inc. for approximately USD 250 million in cash. On-Site is an on-demand leasing platform for multifamily property management and renters that integrates leads from all sources and converts them to signed leases for the multifamily industry and the single-family housing industry. RealPage will continue to support the on-site platform and plans to integrate the best of its on-site platforms in the future. Clients on both platforms will continue to benefit from future improvements without disruption.
  • December 2023: Saudi Arabia and Thailand collaborated to enhance innovation and entrepreneurship, strengthening their bilateral ties. The bilateral trade relationship witnessed an uptick, with Riyadh hosting a four-day trade show in August featuring over 100 manufacturers and entrepreneurs from Thailand showcasing various products across sectors.
  • July 2022: MQDC, a leading property developer, and Thai Airways International Public Company Limited (THAI) formed a partnership to boost real estate and tourism and assist Thailand's economy in recovering from the COVID-19 pandemic. For the mutual advantage of all parties, MQDC and THAI worked together in the marketing sector across four sectors as they explored ways to support their present and prospective clients.

April 2023: Zolostays Limited, the largest provider of co-housing and student-housing services in India, has ventured into the luxury hotels segment. Zolostays has unveiled its first luxury hotel located in the Bellandur locality of Bengaluru, India. This locality is home to several prominent tech parks, including Embassy Tech Village (EMCZ), RMZ EcoWorld (Cessna Tech Park), and prominent companies such as Adobe Corporation, Myntra, LinkedIn, etc.

April 2022: Stanza Living established a business vertical for integrated facility management for colleges and corporates in India, with a planned investment of approximately INR 15 crore (USD 1799550) to expand the segment. Establishing a portfolio of hostel beds with an initial capacity of approximately 10,000, Stanza Living partnered with a variety of engineering and management institutions, such as JECRC, Presidency, and GM Institutes of Technology, to provide students returning after the COVID-19 pandemic with a top-notch, clean and technologically enabled campus experience.

  • November 2023: As the number of Saudis entering retirement grows, demand for senior living solutions is expected to expand strongly in the coming decade, necessitating policy adjustments from both the healthcare sector and the government.
  • August 2023: Fly Homes, a global student accommodation platform that assists Indian, Nigerian, and Nepalese students in obtaining higher education opportunities abroad, unveiled its student accommodation platform.
  • June 2023: University Living, a premier global student accommodation platform, unveiled StudentAccommodationGupt.ai, an AI-driven tool designed to assist students in locating accommodation that best meets their needs. The newly launched tool is designed to reduce the hassle of accommodation hunting by matching students' desired living quarters in a matter of minutes, providing them with a vast selection of available accommodations.
  • July 2023: Saran Singh Sound and Sehej Singh launched Scube Premium Student Housing distinguishes itself from the competition by providing student-specific luxury housing options that provide a stimulating and comfortable environment conducive to academic achievement and personal development while maintaining a familial atmosphere. The startup brings together the best elements of dorm life with a hint of Indian home comforts and hospitality through the provision of 24-hour onsite assistance.
  • June 2023: University Living, a premier global student accommodation platform, unveiled StudentAccommodationGupt.ai, an AI-driven tool designed to assist students in locating accommodation that best meets their needs. The newly launched tool is designed to reduce the hassle of accommodation hunting by matching students' desired living quarters in a matter of minutes, providing them with a vast selection of available accommodations.
  • May 2023: Rotana, one of the leading hotel management companies, has signed four 'Edge by Rotana' and one 'Rayhaan by Rotana' properties in partnership with Memar Development & Investment at the Future Hospitality Summit 2023. Rotana currently operates 73 hotels in the Middle East, Africa, Eastern Europe and Turkiye, serving more than six million guests per year, including 10,012 keys across 36 hotels in the UAE alone.
  • October 2022: ROSHN, the national real estate developer of the Kingdom of Saudi Arabia, and Esri, the world authority in location intelligence, signed a memorandum of understanding (MOU). ROSHN is supported by the PIF, the nation's Public Investment Fund. With the help of the partnership, ROSHN will be able to better design and create 200 million square meters of sustainable neighborhoods across Saudi Arabia by utilizing Esri's spectrum of geographic information system (GIS) products and solutions.
  • March 2023: In 72 hours, DLF sold a USD 1 billion luxury residential project, while its rival, Godrej Properties, is offering USD 3 million apartments to invite-only clients in two off-plan deals that signal a revival in luxury real estate.
  • February 2023: Oberoi Realty has acquired a penthouse in a high-end project called Three Sixty West, developed by Oberoi Realty in association with Sahana Group. The project is located on Dr. Annie Besant Road, in the heart of Mumbai’s poshest Worli locality. Oberoi Realty purchased a penthouse in Three Sixty West for INR 230,55 crore. (USD 278 Million )

US Commercial Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)