Top News for Real Estate Pros
Property Prices, Transaction Volume Slide as Demand for Space Plummets
The number of transactions in February marked the second-lowest total since May 2020, two months after the declaration of the pandemic. Repeat sales totaling $5.2 billion were traded in February, a 13.3% drop compared to the prior month.
Advanced Drainage Systems Signs Lease for New Headquarters
Thanks to a new lease signed by Advanced Drainage Systems, Inc. , its corporate employees will now join together under one roof at the new mixed-use development space, TruePointe.
Blackstone Sells Southern California Industrial Portfolio for $1 Billion
Blackstone 's $1 billion deal with Rexford Industrial Realty includes a portfolio that is 98% leased, with 99% of the square footage concentrated in core, infill regions of Los Angeles and Orange counties.
Home Depot To Add Almost 800 Locations With $18.25 Billion Purchase of Building Supplier
The Home Depot is acquiring SRS Distribution Inc. in an $18.25 billion deal that the home improvement retailer says will bolster sales to professional contractors and construction firms, a market it's been pursuing as Americans have cut back on DIY projects.
Amazon Looks To Shed Empty Offices As E-Commerce Giant Expands Near Seattle HQ
Amazon is aiming to reduce unused offices across its real estate portfolio while also expanding in a fast-growing West Coast city near its headquarters, reflecting firms' reassessment of property use to align with shifts in hybrid work.