Allison Landa
Logitech Inks 263,500-SF Lease
The firm, which works in Internet communications, digital music, home entertainment and wireless devices, will occupy the Pacific Research Center in Newark, Calif., through at least February 2023.
Woods Joins Red Capital as Director
Gary Woods has three decades of experience in mortgage finance and acquisitions. His background includes stints with Bridger Commercial Funding, NorthStar Realty Finance and Washington Mutual.
Economy Watch: Deutsche Bank Suit, Debt Drivers
The U.S. government is taking Deutsche Bank AG to court over the matter of bum loans made by a part of the German bank–loans that happened to be guaranteed by the Department of Housing and Urban Development.
CPE TV: Gordon Feller on Digital Workspaces
Feller, Cisco Systems Inc.’s director of urban innovations, analyzes how cities and companies are adopting to new technological real estate drivers affecting the industry today, touching on how Cisco is seeking to move beyond traditional workspaces and into new technology adapted to the digital worker.
AMB’s Asia Portfolio Stabilizes
For companies seeking premier industrial space for lease in Asia, AMB Property Corp. is nearly fresh out for the time being. With the recent closing of four leases totaling 420,900 square feet at AMB Sendai-Tagajo Distribution Center in Sendai, Japan, the company’s entire legacy development portfolio in Asia is now stabilized.
315,900-SF Suburban D.C. Office Building Fetches $90M
Eleven years after snapping up the Class A property for nearly $59.3 million, LaSalle Investment Management Inc. sold the asset to CB Richard Ellis Investors.
Economy Watch: Construction, Debt Ceiling
U.S. construction spending rose more than expected during March, according to the U.S. Department of Commerce. The 1.4 percent gain was the largest in the construction sector since April 2010, and came on the heels of a 2.4 percent decline in the sector in February. For the 12 months ending in March 2011, however, construction spending was down 6.7 percent.
BGC Purchase of Newmark Strategic for Growth
Real estate advisory firm Newmark, which operates as Newmark Knight Frank in the U.S., has agreed to be acquired by BGC Partners Inc., a major global voice and electronic broker to the wholesale financial markets. The transaction involves 425 Newmark brokers and a majority interest in more than 25 domestic offices. Neither party has revealed the financial details of the agreement.
Economy Watch: Consumers, FDIC Doom
The U.S. Bureau of Economic Analysis said that personal income and outlays among Americans were both up in March compared with February. Personal income increased 0.5 percent, and disposable personal income–which is the fun kind of income–increased 0.6 percent, month-over-month. Hand-in-hand with that, personal consumption expenditures increased 0.6 percent. People having some fun with that disposable income, perhaps.