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US commercial real estate market
Trends
- 1US commercial property divide widens as pricier assets struggle▼News | US commercial property market split widens as pricier properties lose ground
Higher-priced segments of the US commercial property market are losing ground while cheaper properties hold up better, widening the split across the sector. Rising interest rates, tighter lending and shifting demand for offices continue to weigh on premium assets, and observers are watching how far the divergence will go as values keep resetting.
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Retail real estate investment trust EDENS has acquired a shopping center in the San Diego area, according to CommercialSearch. The purchase adds to the company's portfolio of open-air retail assets in coastal US markets. No purchase price or property details were disclosed in the initial report.
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Private equity real estate firm Sterling Organization has acquired three retail properties, according to an announcement by CommercialSearch. The deal expands the firm's retail portfolio, though details on the assets' locations, prices and tenants were not disclosed. The purchase adds to a recent run of investor activity in US shopping center assets, where firms have been picking up retail properties at adjusted valuations.