Allison Landa
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 4 and what to watch out for in the coming week.
New Co-Owner, New Big Lease for 1 Park Ave.
In simultaneous transactions, Vornado Realty Trust acquired a 95 percent stake in the 933,300-square-foot Midtown Manhattan office tower and a major tenant doubled its occupancy in the building under a new lease agreement.
AMB, Allianz Form $648M JV to Acquire Logistics Properties
AMB will make an initial joint venture equity commitment of 15 percent, or approximately $97 million, and Allianz will contribute the remaining $551 million.
Economy Watch: Job Growth, Retail Spending
The U.S. Department of Labor said the economy added 192,000 jobs in February, which was a little more than economists expected and a reasonably strong showing despite international turmoil and annoyingly high gas prices. The government also reported the official unemployment rate at 8.9 percent, down from 9 percent in January.
Lee & Associates Names Fulkerson, Linklater Principals
Grant Fulkerson and Scott Linklater are both industrial brokers specializing in the sale and leasing of properties and development land, Fulkerson throughout the Eastern Ventura County and Conejo Valley markets and Linklater throughout the West San Fernando Valley and Ventura County markets.
D.C., Nevada Among Top Spots for LEED
In the District, there was 25 square feet of LEED-certified space per person in 2010, while in Nevada there was just shy of 11 square feet of LEED-certified space per person during the same time. The other top states were New Mexico, New Hampshire, Oregon, South Carolina, Washington, Illinois, Arkansas, Colorado and Minnesota.
UDR Enters Manhattan with $260.8M Purchase
UDR Inc. has been eying New York City for the last 18 to 24 months and with its recent agreement to acquire the 493-residence apartment community at 10 Hanover Square, the road has been paved for the multi-family REIT to make its debut in the city.
CPE TV: Richard Green on SoCal CRE
The Lusk Center’s Richard Green blogs about the Port of Los Angeles, remote officing and other impacts on Southern California’s industrial and office markets.
Economy Watch: Jobs, HAMP, Beige Book
It’s that time of the month again: first ADP reports on employment, then the U.S. Department of Labor makes a report two days later. For what it’s worth, ADP said that private companies added 217,000 payroll positions in February, more than expected. If so, that might drive the unemployment rate down a little, but ADP and the government estimates have been at odds before.
Pounding Pulse in Healthcare Sector
With an estimated asset value in excess of $700 billion, healthcare is a sector that can’t be ignored. It’s not only large — it’s growing. Several demand streams fuel this fire, including the nearly 80 million Baby Boomers turning 65 this year and the 32 million uninsured individuals who will soon gain access to the healthcare system.