Allison Landa
Morgan Stanley Picks Up 1 MSF Portfolio
Exit 8A Industrial Portfolio, developed by Matrix Development Group over a four-year period that concluded in 1989, takes its name from its location; the assets sit in the New Jersey Turnpike Exit 8A submarket.
Economy Watch: Spending, Home Sales Up
According to the Bureau of Economic Analysis, U.S. personal income was up 0.3 percent in February, and personal expenditures rose 0.7 percent. However, most of that increase was because of the cut in the payroll tax enacted late last year.
Chinese Eco-City Features Bio-Diverse Tower
The 90,000-square-foot, 665-foot-tall Tian Fang Tower is projected to generate as much as 20 percent of its clean energy with the help of a combination of fuel cells, solar panels and wind turbines. Billed as one of China’s most advanced sustainable commercial buildings, it is located in the Tianjin Eco-City development.
Check Out CPE’s March Edition
The digital edition of CPE’s magazine is here, featuring interviews with Chauncey Mayfield and Jeffrey Friedman along with expert insights on energy upgrades and retail property risk, plus crucial industry news and information.
World’s Largest Data Center Encompasses 830,000 SF
The Edison, N.J. property was originally developed as a nearly 1.4 million-square-foot complex for The New York Times in 1992.
Cole Grabs University of Phoenix Complex
In a $170 million sale-leaseback deal, Cole Real Estate Investments snapped up the 600,000-square-foot Phoenix property from Apollo Group Inc.
Economy Watch: Consumers Down, GDP Rises
Consumer sentiment waxed pessimistic in March, according to the latest Reuters/University of Michigan Consumer Sentiment Index. These are nervous times, as evidenced by the final index, which came in at 67.5 compared with February’s final reading of 77.5.
Franklin Street Buys One Legacy Circle
The investment firm picked up the Plano, Texas, office property for $53.6 million. Completed in 2008, it is located in the Legacy Town Center complex.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending March 25 and what to watch out for in the coming week.
HCP’s $1.1B Offering Pays for ManorCare Purchase
In response to a stronger than anticipated interest among the investment community, the healthcare real estate REIT just announced the pricing of its public offering of 30 million shares of common stock–a marked increase over the 24 million shares announced just a day earlier–at $36.90 per share.