Allison Landa
1.7M SF Mixed-Use Life Sciences Project in Boston Area Gets Final Zoning Approval
Alexandria Real Estate Equities Inc. has received final zoning approval from the Cambridge Planning Board for its Binney Street Project, a 1.7 million-square-foot mixed-use office and laboratory development in East Cambridge, Mass.
Sperry Van Ness Partners with AuctionPoint, Enhances Online Services
The partnership will allow Sperry Van Ness to offer property-specific online auction websites complete with property details, pictures and due diligence materials.
Economy Watch: Jobs Report Not All Disappointing
Manufacturing, for instance, added 29,000 positions in May. Since the beginning of 2010, the sector has added 126,000 jobs. Odd strength for such a long-suffering sector, but jobs are jobs at this point.
Starwood Capital Teams with Hersha Hospitality, Taking 49.9 Percent of the Hotel Management Firm
With Starwood Capital at its side, HHM plans to expand its management contracts across the U.S., in a move to propel itself toward the top of the list of national hotel management concerns.
WRIT Snaps Up Two Fully Leased Office Buildings near Quantico Marine Base for $68M
The Rockville, Md.-headquartered REIT acquired the fully leased assets, encompassing an aggregate 271,000 square feet of Class A space, from the developer of the business park, Fredericksburg, Va.-based Silver Cos.
USAA Adds 225,610 SF to Retail Portfolio
Wampanoag Plaza was sold by New York-based Emmes Asset Management Company and is currently 97 percent leased to 11 tenants.
Fitch: U.S. CMBS Delinquencies Nearing 8 Percent on Office Defaults
Throughout the month, 44 office loans went delinquent, including 14 loans with a balance greater than $20 million.
The largest new delinquency was the $380 million Columbia Center loan, whose collateral is located in Seattle.
Chesapeake Lodging Trust Closes $46M Purchase of Ritzy Checkers Hotel in Los Angeles
In addition to its premier guestrooms, the 16-story property, which was originally developed in the 1920s, features 3,300 square feet of meeting and event space, as well as a restaurant and a fitness facility.
Economy Watch: Major Chain Stores See Sales Uptick, Unless They’re Selling to Teens
On Thursday, Thomson Reuters’ survey of 28 major U.S. chain stores found that they posted a 2.5 percent year-over-year increase in same-store sales in May.
CPE’s Digital Edition for June is Live, With All the Industry News, Information and Features Pertinent to Your Business
Check out the June issue of Commercial Property Executive, featuring interviews with Doug Frye and Charles Werhane as well as all the pertinent news and information you need. Click here.