TCN netWORKING: TCN Worldwide Deals, Industry News and Highlights

TCN Worldwide Deals, Industry News and Highlights
  Happy 4th of July!

As we approach the 4th of July holiday here in the states, we wanted to take a moment to thank all of our members both in the U.S. and internationally. We hope you and your family have a happy and safe 4th of July weekend!

  CRE Industry News, Top Stories

Hotel Developers Battle Rising Construction Costs to Build More Rooms

Wealth Management Real Estate: With industry fundamentals continuing to strengthen following a steep dip during the pandemic, some hotel investors are back in building mode.

Rumors Fly Regarding Cushman-Newmark Merger: Report

The Real Deal: Neither party commented on the potential combination of commercial brokerages but whispers of a potential merger made the rounds at last week’s Real Estate Board of New York gala, the New York Post reported. One source told the publication that the merge possibility “cratered a long time ago,” while another said talks are back on after they previously fell apart.

Industrial, Apartment Prices Set More Records As Demand For Both Persists

Bisnow: Prices for industrial properties nationwide set another record for year-over-year increases, up 28.6% in May, according to MSCI on Friday. MSCI also reported that apartment asset prices set an all-time high rate of growth in May, up 23.3% compared with the same month in 2021.

  TCN News, Deal Announcements & Member Highlights

Chicago Real Estate Resources, Inc./TCN Worldwide Sells Chicago Uptown Development Site for $2.6M

Member Deal Announcement: Tuyen Nguyen and Eric Janssen with CRER (Chicago Real Estate Resources, Inc.) facilitated the sale of a multi-store retail property along Sheridan Road on behalf of long-term ownership, which operated the property for over 45 years. The building traded for $2,600,000 – $100,000 over asking price.

Norris & Stevens, Inc./TCN Worldwide in Portland Brokers $1.8M Sale in Auburn, Washington

Member Deal Announcement: AMP Investments, LLC recently completed the $1,850,000 purchase of 232 C street NW in Auburn, Washington. This single-story industrial building is 13,336 SF on 0.70 acres in the heart of Auburn, Washington. It features 3 dock-high loading doors, 1 grade-level door, a 17-foot clear height, and plenty of parking. Todd VanDomelen with Portland-based Norris & Stevens, Inc. represented the buyer, in the transaction.

SPOTLIGHT ON Siva Selvan, Head of Global Hospitality Real Estate, Long & Foster Commercial Division/TCN Worldwide

Member Spotlight: Siva Selvan, Head of Global Hospitality Real Estate, Long & Foster Commercial Division/TCN Worldwide weighs in on luxury hotel residences as a growing trend as well as the innovations and challenges for the luxury hotel industry.


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