CPE’s February 2020 Must-Reads
- Mar 06, 2020
The year’s shortest month was packed with real estate news, including a series of high-profile mergers and acquisitions or expansions. Avison Young grew its Washington, D.C., presence with the acquisition of BMS Realty Services and, later in the month, with the launch of a new U.S. net lease group. Additionally, Walker & Dunlop continued its growth spree with the purchase of Dublin, Ohio-based MSF Real Estate Capital. In mid-February, Simon Property Group made headlines after announcing that it will acquire an 80 percent stake in The Taubman Realty Group for $3.6 billion in cash. A week later, in its largest corporate acquisition, Cushman & Wakefield purchased Houston’s Colvill Office Properties, less than a month after acquiring Dallas’ Pinnacle Property Management Services.
Last month, we looked at what the coronavirus outbreak could mean for the U.S. economy, in general, and the commercial real estate market, in particular. Cushman & Wakefield’s industrial outlook for 2020-2021 also pointed out, among other things, that the coronavirus crisis could impact the implementation of the U.S.’ new trade agreement with China.
On the heels of WeWork’s appointment of Sandeep Mathrani as its new CEO, JLL’s Scott Homa laid out six predictions for the coworking market in 2020. As flexibility becomes a core feature of the real estate market, we highlighted the main trends shaping the shared space sector. And in an interview with Tishman Speyer’s Thais Galli, we discussed the institutional force behind the company’s coworking brand, launched in 2018.
February was also marked by big-dollar transactions, including Transamerica Corp.’s $700 million sale of the 500,000-square-foot Transamerica Pyramid Center in San Francisco and DivcoWest’s $610 million acquisition of a roughly 300,000-square-foot office portfolio in Menlo Park, Calif.
Here are CPE’s must-reads for last month: