CPE’s December 2019 Must-Reads
- Jan 06, 2020
We kicked off last December by looking at four trends impacting the holiday season, as described in CBRE’s annual Holiday Retail Trends Guide. The beginning of the month brought one of the bigger surprises of the year, with Amazon announcing it is set to open a Hudson Yards office that will house more than 1,500 employees, despite having previously scrapped plans for the New York City HQ2 campus. Later in December, the e-commerce giant also tapped Seefried Industrial Properties to develop a 1.4 million-square-foot fulfillment center in Florida.
The end of the fourth quarter generally yields some of the largest transactions of a year and December 2019 was no exception. Among the big-dollar deals closed last month was KKR’s $1.2 billion acquisition of—among other assets—most of a downtown skyscraper and a three-building complex in Bellevue, Wash. Completing the list were Sumitomo Corp. of Americas’ purchase of the Collier Center in Phoenix, and Sealy’s disposition of a multi-state, 16.3 million-square-foot industrial portfolio.
And as the month and year were coming to an end, we looked back at the most important commercial real estate stories of 2019. Additionally, in a series of interviews with industry executives, CPE discussed predictions for the current year, with a focus on the industrial and self storage sectors.
Here are CPE’s must-reads for last month: