Offerpad Debuts its Real Estate Solutions Center in Port St. Lucie as First iBuyer in The Region

Offerpad | August 11, 2020

Live today, Offerpad debuts its Real Estate Solutions Center in Port St. Lucie as the first iBuyer in the region. The innovative real estate solutions provider, with its streamlined, direct home selling and enhanced home listing solutions, is now an option for homeowners throughout more of Central Florida who seek safe and certain home selling options. Offerpad began providing Florida homeowners a better way to sell their home in 2015, with the opening of local real estate solutions offices in Orlando and Tampa. Both markets garnered homeowner interest immediately and continue to be ranked as top performing markets with high volumes of offer requests, contracts signed, and home closings with Offerpad.

Spotlight

Technological change affects everyone. It alters our daily lives at every level: social, economic, and political. Until now, the real estate industry’s reaction to these fundamental changes has been muted, even though real estate’s vulnerability to digital disruption is as profound as any other industry.1 The results of the Deloitte Global study, “Industry 4.0: Are you ready?” show that technological development and mobility will require consumers and employees to adapt the way they live, work, and consume. Price pressure and fierce competition are a powerful catalyst for introducing technological innovations to building technology. These drivers combined with the growing importance of data are poised to upend business models and introduce new players in the market.

Spotlight

Technological change affects everyone. It alters our daily lives at every level: social, economic, and political. Until now, the real estate industry’s reaction to these fundamental changes has been muted, even though real estate’s vulnerability to digital disruption is as profound as any other industry.1 The results of the Deloitte Global study, “Industry 4.0: Are you ready?” show that technological development and mobility will require consumers and employees to adapt the way they live, work, and consume. Price pressure and fierce competition are a powerful catalyst for introducing technological innovations to building technology. These drivers combined with the growing importance of data are poised to upend business models and introduce new players in the market.

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REAL ESTATE INVESTMENT

CIP Real Estate Acquires Industrial Complex in North Atlanta Metro

CIP Real Estate LLC | November 17, 2022

CIP Real Estate has acquired Kennesaw Mountain Business Park, an industrial property in the north Atlanta metro area, for $22.6 million. The 10-acre parcel features two buildings totaling 144,130 square feet. The business park comprises 18 shallow bay industrial units ranging in size from 3,920 to 18,000 square feet, and the majority of the suites are between 6,000 and 12,000 square feet. The project is currently over 96% occupied. Due to strong demand and limited supply of small and mid-bay industrial units in the upscale Marietta area, a suburb of Atlanta, CIP expects significant rental increases in the next five years, which will be supported by upgrades to the facility, including improvements to the parking lot and landscaping, along with painting and HVAC upgrades. “We’re seeing unprecedented industrial demand in the Atlanta metro area, driving low inventory and supporting higher rental rates, Kennesaw Mountain Business Park is a strategic addition to our Atlanta metro portfolio, in a highly desirable location with premier accessibility and demographics.” -Eric Smyth, CEO of CIP The Kennesaw project is the newest acquisition in CIP’s growing Atlanta metro portfolio. Just 17 miles away, in Alpharetta, is Mansell Commons, a 223,000-square-foot industrial and flex project. CIP invested nearly $750,000 in capital improvements on Mansell Commons this year. To the east, additional CIP assets include Gwinnett Commons, Brook Hollow Center, Pleasantdale Industrial Park and Perimeter Place Business Park. CIP’s purchase of Kennesaw Mountain Business Park was funded with $14.69 million in takeback financing from the seller. About CIP Real Estate LLC CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast, and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages approximately 9.5 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, Atlanta and Dallas.

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MARKET OUTLOOK, REAL ESTATE INVESTMENT

Savills Kicks off Operations in Montreal with High-performing Industrial Team

Savills | January 20, 2023

On January 19, 2023, New York-based real estate company Savills informed that it is increasing its footprint in the North American market by launching a new office in Montreal. Antoine Dumas will take on the role of Associate at the company. Brandon Allen, Erik Charton, Paul Fischlin, and Stéphane Robillard will take on the roles of Executive Vice President at the company, while Robin Blanchard will take on the role of Vice President. Meanwhile, George Manousos will take on the role of Vice President and Agency Executive Officer. The group's main areas of expertise will be industrial leasing, investment sales, and capital markets. Vice Chairman Rick Schuham stated, "Savills has strategically opened locations in key markets throughout Canada, and Montreal was a natural next step for our first location in the province of Quebec." He further added, "We have recruited the market's most seasoned industrial brokerage group to establish our location in Montreal. Bringing together this group of top-producing real estate advisors strengthens our ability to deliver market-ready solutions and services in North America and allows us to expand our geographical coverage into Southeast Canada.” (Source – Cision PR Newswire) Savills benefits from the combined expertise of a workforce that, on average, has been in the sector for twenty years. The team represented clients across the industrial spectrum in 2022, including cold storage, warehousing, ports, airports, global infrastructure, distribution and logistics, flex space, land sales, and research and development. The team brokered over $800 million in real estate transactions across Canada. It provides a diverse selection of real estate services, such as tenant representation, landlord and vendor representation, built-to-suit advice, and investment sales. Gregg Healy, Head of Savills Industrial Services, stated, "The industrial sector in Montreal has remained resilient post-pandemic, with strong investment sales and leasing velocity." "Montreal has a rich mix of industries, including life sciences, financial services, manufacturing, transportation, technology, and healthcare, that have continued to invest heavily in establishing operations in the market. We look forward to tapping into the new team's expertise to drive growth for industrial services throughout Canada," he concluded. (Source – Cision PR Newswire) About Savills Savills supports businesses in discovering employee success solutions. Its integrated teams of brokers and consultants are real estate experts. The company's tenant advocacy, capital markets, project management, labor and incentives strategy, workplace design, and occupant experience have improved local and global workplaces for 160 years. The company is owned by Savills plc, which has over 35,000 specialists and 700 offices globally.

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REAL ESTATE TECHNOLOGY,MORTGAGE AND LENDING

FirstClose and Flueid Integrate to Accelerate Title Decisions and Simplify Closings

Flueid | January 06, 2023

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