AI is Changing the CRE Game: Here’s 5 Ways

CRE industry leaders using artificial intelligence to analyze and apply data to decision making saw productivity increase of up to 6% compared to competitors.

In a study by Harvard Business Review about the revolution of big data as a management tool, it was found that artificial intelligence used to analyze and apply data to decision making by those at the top of the CRE industry saw an increase of up to 6% in productivity compared to their competitors.

AI is changing the CRE game in several different ways and in turn, having an impact on all CRE sectors in different ways.

Read more from NAI Global

 

 

Major office park near new Facebook, Tesla outposts in hot area of Fremont sells for $73 million

A 323,000-square-foot business park in Fremont’s Ardenwood neighborhood is changing hands for $73.3 million.

This is just months after Tesla and Facebook announced plans to open satellite offices in the area, the Mercury News reports.

The four-building complex sits near the intersection of Kaiser Drive and Ardenwood Boulevard, just minutes from the east side of the Dumbarton Bridge. The buildings are currently being leased by Boehringer Ingelheim, a German pharmaceutical company.

Until recently, Ardenwood had largely been popular with relatively stodgy biotech and biomedical companies, flying under the radar while properties just a few miles away in Palo Alto and Mountain View commanded top dollar for space from software startups.

That could be changing.

In October, Tesla signed a lease for 229,000 square feet of office space in Ardenwood, enough room for some 1,500 employees. The buildings had previously been occupied by now-defunct biotechnology company Genitope.

Read more from San Francisco Business Times

What Do Single-Tenant Net Lease Deals Offer High-Net-Worth Investors?

HNW investors are especially attracted to single-tenant net lease deals in the retail sector.

For more and more high-net-worth (HNW) real estate investors, dollar stores and drugstores make for a winning combination, although these assets can turn into losers if the sole tenant leaves.

Office and hotels still draw a lot of attention—and dollars—from HNW investors. But a rising number of them are betting on single-tenant net lease properties such as dollar stores, drugstores and fast-food restaurants to help round out their portfolios.

By and large, net lease properties are magnets for HNW investors because they’re viewed as safe, recession-proof assets that preserve cash flow and yield.

Read more from National Real Estate Investor

Rich San Francisco homeowners get sold-off street back

Residents of an exclusive San Francisco neighborhood who failed to pay taxes on their private, gated street for two decades got the street back Tuesday after supervisors voted to rescind the sale of the tax-defaulted property.

The Board of Supervisors split 7-4 on the move, with those in favor saying residents of Presidio Terrace had not received enough notice before their sidewalks, street and common areas were sold at auction in 2015.

Read more from SFGate

Bitcoin is finally buying into US real estate

Bitcoin is already in retail and restaurants — so it was only a matter of time before the cryptocurrency took on real estate. That time is now. Bitcoin is slowly making its way into closings on everything from Lake Tahoe land in California to Manhattan condos to single-family homes in the heart of Texas.

Read more on CNBC

Amazon’s Big Moves Cause Big Changes

It seems as though Amazon is in the headline of every news story, from their acquisition of Whole Foods to the hunt for their next headquarters location, this company is making big moves that will result in big changes for the commercial real estate industry.

Experts have predicted that Amazon will utilize Whole Foods stores as hubs for grocery pick-up and delivery, resolving the “last mile” issue. The $13.7 million acquisition has the potential to completely change the grocery industry. This deal presents an opportunity for retail real estate investors because it underscores the vital role of brick-and-mortar stores in the future of the retail sector.

Read more from NAI Global

Playboy Mansion expected to go up in value

Following the news of Hugh Hefner’s death, the iconic property could surpass recent $100M sale price.

Playboy founder Hugh Hefner died at 91-years-old on Wednesday, his company confirmed. As the tributes and debates over Hefner’s legacy continue, the new owner of the iconic Playboy Mansion in the tony Holmby Hills neighborhood of Southern California could enjoy a windfall in the property’s value.

Read more from Inman

Technology is Keeping Bodies in Brick and Mortar: Here’s How

Cutting-edge technology is essential for big-brands who want their retail empires to continue to succeed and outpace competitors in today’s (and probably tomorrow’s) retail landscape. E-commerce has created a shift in consumer wants and behaviors towards retail, however, the right technology can feed into those wants and positive behaviors.

Here are three important ways technology is changing brick-and-mortar for the future.

Read more from NAI Global

The new acquisition is bringing Amazon prices to Whole Foods

CHANCE FOR REDEMPTION

If you’ve never stepped foot into a Whole Foods before because you felt the high price points weren’t worth emptying your wallet over artisanal cheeses and organic produce, you might want to give them a second chance.

After sealing the $13.7 million dollar deal on Monday, Amazon is the proud new owner of Whole Foods. They’ve already begun lowering prices in their brick-and-mortar locations.

Read more from The American Genius

Mike Priolo Sells San Mateo Multi-family Property for $2.2M

MARCH 2016 – San Mateo, CA – NAI Northern California announced today that it has closed the sale of 456 Studio Circle, a six-unit multifamily complex located in San Mateo, California.

Built in 1959 and consisting of (4) one bed/bath units and (2) two bed/bath units, the multifamily complex is located in the San Mateo/Burlingame border within walking distance to downtown Burlingame. Featuring rents 40% below market, the sale’s price per unit, about $367,000 is within the top 30% of all Class C apartments sold in San Mateo in the last 14 months.

Mike Priolo, Investment Advisor for NAI Northern California, represented both buyer and seller in the $2.2M sale. “This sale is the latest of several recent major transactions we’ve represented in San Mateo, demonstrating a clear demand for multifamily inventory in this market,” commented Priolo.

A veteran real estate professional with over nine years of experience in the Bay Area, Mr. Priolo specializes in the sale and acquisition of multifamily and NNN assets, consistently exceeding his client’s expectations through his dedicated focus and market expertise.

About NAI Northern California

NAI Northern California is full service commercial real estate firm in the San Francisco Bay Area and part of NAI Global, the largest managed network of Commercial Real Estate Brokerage Service firms in the World. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, NAI Northern California provides comprehensive brokerage, leasing, debt, advisory, and property management services for corporate end users, property owners, developers, investors and financial institutions.