Allison Landa
WTC’s 1 MSF Condé Nast Lease to Lead Downtown’s Return to Glory
New York City’s office market has been in the slow-but-sure post-recession rebound mode for the last several months but the long-awaited announcement has created such a buzz that industry experts believe it will kick the recovery of Manhattan, and downtown in particular, into high gear.
STORE Capital Launches as New Private REIT
The firm was formed to invest in single-tenant properties including chain restaurants, supermarkets, drugstores and other retail, service and distribution facilities.
RECon Coverage: Incoming ICSC Chair Offers Insights
David Henry is bullish on the future. The new International Council of Shopping Centers chairman and president & CEO of Kimco Realty Corp. sees good things coming not only for the organization, but for the retail sector as a whole.
Economy Watch: REOs Up, GDP Low
RealtyTrac reported in its latest U.S. foreclosure sales report, which covers the first quarter of 2011, that REOs and other properties in some stage of foreclosure now account for 28 percent of U.S. residential sales, up slightly from the fourth quarter of 2010, when the total was 27 percent.
Conde Nast Takes 1 MSF at One World Trade Center
In a long-rumored lease deal, the publisher signed on the dotted line to relocate its headquarters to Lower Manhattan.
Pillar Buys Former Nortel HQ
The $43.1 million transaction represents Pillar’s crack at capitalizing on the rebirth of the Dallas-area tech market.
Economy Watch: OEDC Up, FHFA Index Down
In its most recent economic outlook, the Organisation for Economic Development and Cooperation waxed fairly optimistic, but warned that the global crisis may not yet be through.
Forest City Wins Gigs
The firm has just added nearly 2.2 million square feet to its portfolio.
Economy Watch: Home Sales, Federal Bailouts
The U.S. Department of Commerce reported that new home sales ticked upward again in April by 7.3 percent to an annualized rate of 323,000 units. That was the highest rate since December, on the heels of a modest increase the month before.
RECon Report: Economy Has Hit Bottom
According to Marcus & Millichap’s 2011 national retail report, cautious optimism is the order of the day.