Allison Landa
Economy Watch: Home Prices at Double Dip?
The latest S&P/Case-Shiller indexes on U.S. housing prices confirm that home valuations are still on the slide. In fact, almost all of the small pricing uptick experienced in 2009, which probably was a result of the long-gone federal homebuyer tax credit, has been erased. A continuing influx of distressed properties put further pressure on prices.
D.C. Project Breaks Ground
With Clark Construction Group L.L.C. at the helm as general contractor, Monday Properties has commenced construction of 1812 N. Moore St., a 580,000-square-foot, 35-story spec office project in Arlington, Va., that upon its completion will carry the distinction of being the tallest green building in metropolitan Washington, D.C.
HFF Scores $80M Refinance for Maui Shopping Center
The 110,800-square-foot Whalers Village shopping and entertainment center captures an estimated one of every four dollars spent on the island.
Revel Secures $1.2B for Stalled Casino Project
The entertainment firm has closed on a financing package for the 6.2 million-square-foot Revel Hotel and Casino in Atlantic City. Money issues brought most construction activity at the $2.4 billion beachfront entertainment resort to a halt in January 20009, leaving the project half finished.
Economy Watch: Feds On Verge of Shutdown?
Is the federal government going to shut down because of the fracas between zealous House members (including freshmen who weren’t around for the ’95 shutdown), somewhat less zealous members of Congress, and the administration? The House passed by 235-189 a bill that cut more than $61 billion from fiscal 2011–the year under way–as part of a temporary funding measure.
Borders Shuts Stores; 4.9 MSF Hits Market
The stores span 35 states, including Alaska and Hawaii, Washington, D.C., and Puerto Rico; Borders international franchised operations were not included in the bankruptcy filing. The spaces range in size from approximately 12,900 square feet to 42,700 square feet, with the average store size being 24,600 square feet.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending Feb. 18 and what to watch out for in the coming week.
Lightstone, Paragon Take 750,000-SF Festival Bay
The two joined forces to purchase the Orlando mall, which sits near the teeming tourist hub that includes Universal Studios, Sea World and Walt Disney World, and a mere $25 million was the sales price.
Tavistock Buys Atlanta’s 151-Room St. Regis
The company acquired the premier lodging facility and 30 remaining condominiums from a consortium of partners including associates of SR Hotel Development Co., the firm that developed the property at a cost of approximately $160 million.