TCN netWORKING: TCN Worldwide Deals, Industry News and Weekly Highlights

This month, we had the pleasure of welcoming the best of the best in commercial real estate to the Dominican Republic for this year’s TCN Worldwide Spring Conference for a week of networking and strategy! We kicked off the event with a lively Caribbean cocktail reception, complete with a white carpet entrance! View the video here.

Thank you to everyone who helped make this year's TCN Worldwide Spring Conference — Top Producer Retreat and Sales Training Event a success. Thank you to our sponsors, Buildout and Biproxi, as well as the TCN Principals who utilized this trip as an incentive for their firm's sales competition! Based on your feedback, we are proud to know you found great success in those initiatives.

Higher Interest Rates Fuel Sale-Leaseback Activity

Wealth Management Real Estate: The rates on sale-leasebacks are attractive compared to financing terms some middle market companies can get from other sources. (Want to learn more about Sale-Leasebacks — Listen to TCN Worldwide Market Minutes Podcast Ep. 007 where Luke Timmis of Signature Associates talks about sale-leasebacks and how they can be attractive as an alternative method of raising capital.)

CoStar's Bid To Buy Realtor.com From News Corp Ends With No Deal

Bisnow: CoStar Group's bid to add the company that owns Realtor.com to its real estate data and listings empire has fallen apart. News Corp announced Tuesday that it "is no longer engaged in discussions" to sell Move Inc. to CoStar.

How CRE Boosts the Economy: NAIOP

Commercial Real Estate Executive: Industrial construction spending surged by more than 140 percent in 2022, NAIOP reports.

Shannon Waltchack/TCN Worldwide in Birmingham Brokered the Sale of 2153 Clearbrook Road, a 9,044 SF Retail Center in the Bluff Park Community in Hoover, AL

Member Deal Announcement: SW Broker Michael Murray, CCIM represented the landlord in the sale and has been leading the redevelopment of the property since late 2021. “This is a special property because of the charming location in the heart of Bluff Park. The recent revitalization project at the adjacent Piggly Wiggly Shopping Center and Bluff Park Village has transformed this location into the heartbeat of this community. We have a great tenant lineup and are proud of the small part this project has played in the renaissance of Bluff Park retail,” said Murray.

Pacific Coast Commercial/TCN Worldwide in San Diego Brokered the Sale of an Owner-User Industrial/Commercial Condo in El Cajon, CA for $2 Million

Member Deal Announcement: Pacific Coast Commercial is excited to announce that the commercial condo located at 215 Denny Way Suite D, El Cajon, CA 92020 has been sold in an owner-user deal for $2 million. This 6,176 sq. ft. property with approx. 1,200 sq. ft. of finished mezzanine office was represented by Ken Robak and Nick Mane of Pacific Coast Commercial on behalf of the seller.

Moody Rambin/TCN Worldwide in Houston Represented the Tenant to Secure a 3,900 SF Retail Lease at 13574 University Blvd, in Sugar Land, Texas

Member Deal Announcement: MaiLilybelle Company, Inc. leased ±3,900-square-feet at 13574 University Blvd, located in Sugar Land, Texas. The Tenant will be operating an Uptown Cheapskate location which sells new and used apparel and soft goods merchandise. Brent Fredricks and Anthony Porraz of Moody Rambin represented the tenant in negotiations.