Kayla Carmicheal

Bolingbrook

Editor at Bisnow

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Articles

Creditors Take Losses On $233M CMBS Loan For Former Sprint HQ

1 week ago | bisnow.com | Kayla Carmicheal

Buyers of commercial mortgage-backed securities tied to a single asset are being hit with losses as the market for older offices continues to wobble. In the latest blow, a $233M CMBS backed by a 20-building office campus in the Kansas City suburbs resulted in substantial losses. The loan’s sale left just $164M to distribute to creditors, leading the $65M riskiest portion of the CMBS bond to be fully wiped out, Bloomberg reported.
Renter Guarantors Will Soon Be A $1B-A-Year Industry

2 weeks ago | bisnow.com | Kayla Carmicheal

A major new industry is forming, thanks to a perfect storm of economic uncertainties and landlords tightening tenancy requirements — and residential leases are just the beginning. The global online guarantor market is expected to generate $775M this year, a 10% jump from 2023. By 2032, it's expected to bring in more than $1B annually, according to Morningstar. Online guarantors work like typical co-signers.
$1.2B In New Biotech Manufacturing Expansions Announced

3 weeks ago | bisnow.com | Kayla Carmicheal

Two life sciences manufacturing hubs are coming to fruition in the U.S., adding to the wave of projects sparked by President Donald Trump's domestic manufacturing push. Biotech company Greentech is building a $700M plant just outside of Raleigh in Holly Springs, North Carolina, and Roche is spending $550M to expand a diagnostics site in Indianapolis. Greentech’s facility will serve as a biopharmaceutical talent hub, CEO Ashley Magargee said in a press release.
Savills Names Its Next CEO

1 month ago | bisnow.com | Kayla Carmicheal

A new name is moving to the top of Savills’ org chart. Simon Shaw, the firm’s chief financial officer, will take the CEO role on Jan. 1 after Mark Ridley retires at the end of the year. Ridley spent nearly three decades at the company and has been CEO for the last seven years. He will retire from his role and the board this December, according to a press release. Ridley’s real estate career spans 41 years in the UK. He joined Savills in 1996 and became a board member in 2018.
Judge Sides With Newmark Brokers Sued By Eastdil For Document Theft

1 month ago | bisnow.com | Kayla Carmicheal

An Orange County, California, court ruled Friday in favor of six brokers being sued by their former employer Eastdil Secured for allegedly stealing proprietary information before joining rival Newmark. Eastdil brought a lawsuit against former West Coast multifamily team members Geoff Boler, Blake Matsuda, Lee Redmond, Eugene Chong, Jonathan Merhaut and Justin Shepherd earlier this month, alleging they stole thousands of pages of company documents and business.
CBRE Picks Up Kohl's Real Estate Head

1 month ago | bisnow.com | Kayla Carmicheal

After shopping around for the right fit, CBRE has hired Kohl’s former head of real estate to support its retail growth strategy. Scott Schnuckel will be joining the world's largest commercial real estate services firm as managing director of Americas Retail. Schnuckel led all things new locations and store redevelopment for the discount retailer. In his nearly 20 years there, he generated $300M in disposition proceeds. He also garnered $200M for the company through lease restructuring.
Prologis Downgraded By Scotiabank Amid Tariff Turmoil

1 month ago | bisnow.com | Kayla Carmicheal

The world's largest industrial landlord was double downgraded by Scotiabank Monday, causing stocks to fall to a nearly five-year low. Prologis has been taken from Sector Overperform to Sector Underperform, meaning the REIT’s stocks are expected to perform worse than the industrial market overall in the coming months. Scotiabank also reduced the price target to $97 from $133.
Trump Creates New Office To Run CHIPS Act Program As Lutnick Reportedly Weighs Changes

2 months ago | bisnow.com | Kayla Carmicheal

President Donald Trump has pulled execution of the CHIPS Act under a new entity overseen by Secretary of Commerce Howard Lutnick, who reportedly intends to take a tougher position on the program meant to spur domestic semiconductor manufacturing. Per an executive order signed by Trump Monday, the newly created United States Investment Accelerator aims to pull back regulations and hasten the permitting process for projects planning over $1B in U.S. investment.
And The Trophy Goes To ... Trophy Buildings

2 months ago | bisnow.com | Kayla Carmicheal

If there was going to be a winner crowned in the slow recovery of the office market by building type, the trophy would go to its namesake. Trophy buildings average 13% vacancy nationally compared to 17.9% for Class-A buildings, Newmark said in a report released Tuesday. In the six strongest, most mature U.S. submarkets — LA’s Century City, Uptown Dallas, Chicago’s West Loop, D.C.’s central business district, Manhattan’s Park Avenue and Boston’s Back Bay — the divide is even steeper.
Nasdaq To Open Dallas HQ

2 months ago | bisnow.com | Kayla Carmicheal

Y'all Street is beefing up as Nasdaq is planning a regional headquarters in Dallas, the stock exchange operator announced Tuesday. The new HQ will serve the entire Southeast, The Wall Street Journal reported. It will be home to the operator's division that helps clients catch fraud and money laundering in addition to focusing on winning listings. Nasdaq launched a regional listings division in Irving, a city just northwest of Dallas, in September.