Allison Landa
Economy Watch: Bernanke Speaks; New-Home Sales Wilt
Twice a year, Federal Reserve Chariman Ben Bernanke reports to Congress on the economy, and Wednesday was the day. He promised low, low rates for a while longer–“an extended period,” which is a phrase that has turned up again and again from the Fed since the early days of the Panic of 2008.
JBG Tapped to Develop $200M Research Campus for National Cancer Institute
Chevy Chase, Md.-based JBG Companies has been chosen to spearhead a new $200 million facility for the National Cancer Institute.
JLL: Corporate Occupiers Can Take Advantage of Surplus Space
Jones Lang LaSalle has a message for real estate industry players: Take a breath. The company’s North American Occupier Report for the fourth quarter 2009 shows that there are at least indications of a tentative recovery afoot – and for the recession-wounded, that is at least some good news.
Economy Watch: FDIC Says Banks’ Loan Exposure Slides
In its Quarterly Banking Profile Report on Tuesday, the Federal Deposit Insurance Corp. reported a whopping decline in bank loan exposure in 2009 compared with the year before, a drop of $587 billion, or 7.5 percent.
Unique ‘Regional Center’ Designation Finances $235M Mixed-Use Project in Suburban Seattle
Twin Development L.L.C. has found a way around the chilly lending market. Having successfully attained the United States Citizenship and Immigration Services’ “Regional Center” status for the City of Federal Way in Washington, Twin Development can now rely on funds from the EB-5 Immigrant Investor Program to finance the bulk of the $235 million Sky Hotel & Residences.
Consumer Confidence Takes a Plunge
The Consumer Confidence Index declined sharply last month, falling to 46.0 from 56.5 in January. For perspective, the Index stood at 100 in 1985 during boom times.
Hoffman Land Index: Land Values on Rise in Southern California
Southern California real estate players may be encouraged by news from the land brokerage The Hoffman Company, whose third annual Hoffman Land Index reveals that land values in many areas have doubled or tripled in 2009 as compared to 2008.
NAR: Give Recovery Another Year
Despite indications that the economy is recovering, the National Association of Realtors is advising caution before slipping on the rose-colored glasses.
Hines Nabs Tenant for an Entire 112,800-SF Building at its New Office Complex in Madrid
U.S. office property owners with international portfolios have been assaulted by high vacancy rates at home and abroad, so Houston-based Hines’ latest news out of its Madrid office is no small matter.
Tata Consultancy Takes 180,000 SF At Tishman’s Hyderabad Project
In Hyderabad, India’s second-largest office lease in the past year, Tata Consultancy Services has inked a five-year lease for more than 180,000 square feet at Tishman Speyer’s WaveRock project.