Allison Landa
ING Divests CRE Holdings
ING is making major moves in its quest to decrease its presence in the commercial real estate market. The company has entered into an agreement to sell the majority of its ING Real Estate Investment Management business to CB Richard Ellis Group Inc., and in a separate agreement the company committed to sell Clarion Partners to Lightyear and Clarion Partners management.
Economy Watch: Evaluating Winners, Losers of Retail
U.S. retail sales, which went along so swimmingly during the holidays, scored only an uptick in January, according to the Department of Commerce. The gain was 0.3 percent compared with the previous month. Better than a loss, but not as much as some economists had expected.
Watkins to Lead Innovation, Product Development at JLL
Emily Watkins has been tapped to serve as senior vice president, based out of the firm’s San Francisco office.
Clark Delivers ISO HQ Early
Clark Design/Build of California has wrapped up construction of the $114 million California Independent System Operator Corp. Iron Point headquarters in Folsom, Calif.
Vornado Secures $150M in Financing
Many office asset owners are scrambling to refinance or restructure debt as maturities approach. However, Vornado Realty Trust is in no such position as it closes financing for its 506,000-square-foot office property at 2121 Crystal Drive in Arlington, Va.
Economy Watch: Battle of the Budgets Begins
The Obama administration released its version of the fiscal 2012 federal budget to compete with the House Republicans’ version agreed upon (sort of) last week. The takeaway regarding the administration’s budget is that it will cut roughly $1.1 trillion from the deficit over the course of the next 10 years–a little less than the deficit is currently increasing in one year.
IRS Claims 105,000 SF at D.C. Complex
It’s not April 15 yet, but the Internal Revenue Service has filed — papers for a new office lease, that is. Acting on the agency’s behalf, the U.S. General Services Administration entered into a lease agreement with property owner CIM Group to occupy space at the Union Square office complex near the city’s Union Station.
Sunstone Names Arabia as CFO, Executive VP
Lodging real estate investment real estate trust Sunstone Hotel Investors Inc. has announced that John Arabia has been appointed chief financial officer & executive vice president of corporate strategy effective April 4, 2011.
PwC US Signs at Atlanta Mixed-Use Property
A new name will soon be added to the office tenant roster at 12th & Midtown, a $2 billion upscale mixed-use project, now that the company has inked a 140,000-square-foot lease with property owner Daniel Corp.
Economy Watch: Whither Fannie and Freddie?
It’s a radical notion: no more Fannie and no more Freddie. Can it happen? Should it?