Restauranteur Luby’s Mulling Strategies to “Right-Size its Corporate Overhead”

Luby’s Inc., the national restaurant chain owner and operator, formed a new Board Special Committee to take measures to “right-size its corporate overhead” and identify “strategic alternatives . . . with the objective of maximizing shareholder value,” according to a statement. Local media took this one step further, suggesting a possible corporate sale could be

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Reno Industrial Deal 2nd Largest Industrial Land Transaction in Nevada History

Southern California-based, Mark IV Capital acquired Crossroads Commerce Center in Fernley, NV from a partnership between Sonterra Development Company, Nevada Pacific Investment Company, LLC, and the Logan Family Land Trust for $45 million. The 4,380-acre industrial sale is the second largest industrial land transaction in Nevada history. Cushman & Wakefield’s Brian Armon, who handled the

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Duke Inks Deal with Automotive, Chemical Company in IL

Duke Realty Corporation signed a lease with Old World Industries to occupy all of Crossroads Parkway 605, a 354,400-square-foot building in Bolingbrook, IL. The automotive and chemical company, best known for its PEAK brand of motor oil, antifreeze and other automotive products, will take occupancy of the building located at 605 W. Crossroads Pkwy. The

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Continental Closes Four-Market Deal Involving 1,400+ MF Units

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link. Denver-based Continental Realty Advisors (CRA) divested four apartment properties encompassing more than 1,400 units for in excess of $200 million. The properties span four different housing markets including Phoenix, Las Vegas, Memphis and Dallas.

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Ariel Lists Fully Leased DT Brooklyn Offices

Ariel Property Advisors is marketing for sale 100 Livingston St., a fully-leased, four-story office building in Downtown Brooklyn’s municipal district. The asking price is $12 million. “This property presents prospective investors with an opportunity to acquire a well-situated office building with high-quality, in-place tenancy and strong cash flow on the border of Brooklyn Heights and

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Report: U.S. Multifamily Rents Continue Positive Momentum

U.S. multifamily rents have continued their upward trajectory with a 3.4% year-over-year increase in July 2019, according to a new report from Yardi Matrix. Annual rent growth has topped 3% on a year-over-year basis for each of the past 13 months. Some of the fastest-gaining metros, according to the report, include Las Vegas (8%), Phoenix

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Hovde Properties Proposes MXU for Waunakee

Developer Hovde Properties would like to see a mixed-use development go north in Waunakee, WI. The proposed development would offer 117 apartments, more than 14,000 square feet of retail space, and be located in the 200 block of Main Street, which is the village’s main road. The project is currently in the proposal stage, with

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Intel Job Cuts Begin

Santa Clara-based Intel, which is cutting 12,000 jobs by mid-2017, revealed more about the strategic plan it envisions. The world’s largest chip maker’s CEO Brian Krzanich says the goal is to transform “Intel from a PC company to a company that powers the cloud and billions of smart, connected computing devices.” Cuts to about 11%

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$750M, Two-Tower, MXU Condo/Hotel Approved in Honolulu

Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.   Los Angeles-based Salem Partners received final approval from the Honolulu City Council to build a second major project under Honolulu’s Ala Moana Transit Oriented Development Plan. The proposed $750-million project at 1500 Kapiolani Ave. includes 450 hotel and residential units, as well

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