Allison Landa
Economy Watch: Service Sector Wheezes a Little in June
The jury is still out on double-dip, but the Institute for Supply Management did report a slight weakening of the services sector in June. Not a contraction, but a slower pace of growth, with ISM service index dropping to 53.8 from 55.4 in May .
Class A Offerings Catch Market’s Eye
Several owners that have well-leased Class A office buildings with strong credit in this market are considering the right time to begin selling their assets. The investment community has been kind to office buildings that have term, credit, and a compelling story behind them by pricing these assets with aggressive cap rates and per-square-foot pricing above replacement cost.
General Growth Requests Extension on on Bankruptcy Plan Filing
Currently the exclusivity period to file the plan and its accompanying disclosure statement is scheduled to expire on July 15.
TD Taps Proctor as SVP, Commercial Real Estate Market Director
Proctor, who has 23 years of experience in banking, lending and finance throughout the metropolitan Philadelphia and New Jersey markets, will manage and expand the bank’s existing commercial real estate platform. That platform encompasses offices in Cherry Hill, N.J., King of Prussia, Penn., and Philadelphia.
Author Gladwell Speaks at Colliers International’s First Global Leadership Summit in Manhattan
Colliers International has undertaken recently a rebranding and investment campaign to combine its real estate experts worldwide and service lines under one banner. Under this model, local Colliers brokers continue to own real equity in the company.
Santa Monica-Based Douglas Emmett Closes Fund with Half-Billion Dollars to Invest
Leverage notwithstanding, Douglas Emmett Inc. has closed the subscription period to its Fund X with equity commitments totaling approximately $549.3 million. The Santa Monica, Calif.-based REIT has invested $191 million of its own into the institutional fund.
Pebblebrook Spends More IPO Cash with $105M Purchase of InterContinental Buckhead Atlanta
The 24-story InterContinental sits in Atlanta’s tony Buckhead community and, in addition to its upscale guestrooms, features a 5,000-square-foot wellness spa and 31,000 square feet of meeting space, making the hotel the site of the largest meeting space in Buckhead.
Economy Watch: U.S. Jobs Creation = Running in Place
The equity markets were atwitter after the release of unemployment numbers on Friday, but the chief economist of the U.S. Department of the Treasury (and assistant secretary for economic policy) Alan Krueger insisted that the U.S. economy will nevertheless grow 3 percent in 2010.
Bernard Haddigan on Retail Trends
Bernard Haddigan of Marcus & Millichap discusses retail trends at at ICSC 2010.
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