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America’s Last Full-Size Kmart Store to Close

America’s Last Full-Size Kmart Store to Close

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The last full-size Kmart operating in the US is scheduled to cease operations on Oct. 20. The New York Post reported the 90,000-square-foot store in the Long Island hamlet of Bridgehampton, New York, opened in 1996 and was part of a chain that encompassed more than...
Work Begins on First Mixed-Use Complex Featuring Costco and Apartments

Work Begins on First Mixed-Use Complex Featuring Costco and Apartments

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new mixed-use development in South Los Angeles will become the first to feature a Costco big box retail store with apartments. A groundbreaking ceremony took place on Sept. 18 at the former site of View Park Community Hospital in the Baldwin Village section of the...
Tempur Sealy to Sell 176 Stores to Win FTC Approval for Mattress Firm Acquisition

Tempur Sealy to Sell 176 Stores to Win FTC Approval for Mattress Firm Acquisition

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Tempur Sealy International Inc. (NYSE: TPX) announced the divestiture of 176 stores to appease the Federal Trade Commission’s (FTC) objection over its proposed $4 billion acquisition of Mattress Firm Group. In conjunction with the planned Mattress Firm acquisition,...
New Jersey Town Seeks to Buy College Campus in Property Ownership Dispute

New Jersey Town Seeks to Buy College Campus in Property Ownership Dispute

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The municipal council in Princeton, New Jersey, has begun the process to acquire the historic former campus of Westminster Choir College – although the ownership of the property is in dispute. NJ.com reported the council issued an ordinance to acquire the campus, with...
Elon Musk’s SpaceX Sued for Trespassing on Neighboring Texas Property

Elon Musk’s SpaceX Sued for Trespassing on Neighboring Texas Property

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Elon Musk’s SpaceX is being sued for $15 million by the maker of the Cards Against Humanity party game for allegedly trespassing on and damaging the games company’s adjacent Texas property. The Wall Street Journal reported CAH acquired a tract of land along the...
Congress Considers Bill Adding Scrutiny to Foreign Adversary Purchases of US Farmland

Congress Considers Bill Adding Scrutiny to Foreign Adversary Purchases of US Farmland

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

New bipartisan legislation before Congress is seeking to add a new layer of scrutiny to acquisitions of US farmland and agricultural industry by nations that are viewed as hostile to American interests. The Protecting American Agriculture from Foreign Adversaries Act...
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