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CoStar's People of Note (July 29)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Dallas / Ft. Worth, Washington DC, Minneapolis / St. Paul, Charlotte...

FinCEN Expands Reach of Cash-Only Real Estate Reporting Beyond Manhattan, Miami
The Financial Crimes Enforcement Network (FinCEN) is expanding required reporting for all cash real estate purchases to six new markets in California and Texas. Since earlier this year, U.S. title insurers were only required to report such deals in Manhattan...

U.S. Office Sector Enjoys Steady Q2 Leasing Momentum Even as Rent Growth Slows, Sales Stall
The U.S. office market continued its steady momentum in the second quarter, recording 39.4 million square feet of net absorption in the first six months of 2016, nearly equaling the 40.2 million square feet absorbed during the record-setting first half...

Technology Behind Hugely Popular Pokémon Go Game Could Be Transformative for Buildings and CRE
With more than 75 million downloads since being introduced a month ago, Pokémon Go is a hot topic on traditional and social media news outlets and is seemingly in everybody’s hands. The rapid adoption of the augmented reality app by popular culture means...

CalSTRS Seeking to De-Risk CRE Portfolio Beginning with Multifamily
The nation’s second largest public employee pension fund, California State Teachers’ Retirement System (CalSTRS) said it plans to take steps to lower its risk exposure in its real estate investments in the coming year. The $189 billion fund is planning...

Activist Investor Takes Aim at Buffalo Wild Wings Restaurants
Activist investor Richard McGuire III, managing principal of hedge fund Marcato Capital Management, has amassed a 5.1% share of restaurant operator Buffalo Wild Wings Inc. (NASDAQ: BWLD) in the past month. The move is widely seen in part as a real estate...

Under Armour Leases Former FAO Schwarz Flagship, Plans to Roll Out Brand In 600 Kohl's Stores
Athletic apparel and sportswear maker Under Armour this week rolled out several initiatives aimed at bolstering its brand following the bankruptcy and collapse of Sports Authority, its largest customer, including a new distribution deal with Kohl’s and...

Big Buyer Revealed for Liberty Property Trust Portfolio
It turns out the big buyer with which Liberty Property Trust said it was in discussions for a sizable portion of its suburban office and flex is a familiar name. Workspace Property Trust said it has finalized an agreement to buy 108 office and flex...

Three CBL Malls Sold for $75.1 Million
CBL & Associates Properties Inc. closed on the sale of two of its malls in Michigan that it had previously designated for disposition: the 797,251-square-foot Fashion Square Mall in Saginaw and the 613,313-square-foot The Lakes in Muskegon. An unidentified...

PREIT Advances Mall Portfolio Upgrade with Deal to Sell 2 Properties; Decision to Market Another
Philadelphia-based mall owner PREIT continues to implement its strategy to upgrade its portfolio. The REIT has executed sale agreements and received non-refundable deposits for both the Washington Crown Center in Washington, PA, and the office building...

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