Allison Landa
BlackRidge Acquires SoCal Distribution Center
The deal marks BlackRidge’s second Inland Empire acquisition within the past 90 days. The firm recently bought 1000 Etiwanda, a 302,020-square-foot distribution center in Ontario for $14.4 million.
Economy Watch: Unemployment Claims Down at Year’s End
The number of U.S. workers filing applications for jobless benefits for the first time dropped to 388,000 to the week ending Christmas Day, according to the U.S. Department of Labor. That’s the lowest level since July 2008. The less volatile four-week average of new claims also reached down to levels not seen since the summer of 2008, falling to 414,000.
FACE Files Registration Statement for All-Cash REIT Status
The company plans to mine the U.S. market for triple net-leased real estate, as well as mortgages secured by such properties.
Brookfield Closes on Sale, $120M Financing of Chicago Office Building
Brookfield Asset Management sold 300 S. Riverside Plaza, a Class A office building in Chicago’s West Loop submarket.
$930M Sale of John Hancock Tower Finalized
The iconic 1.7 million-square-foot tower was sold to Boston Properties Inc. According to Cushman & Wakefield Inc., which handled the sale on behalf of a joint venture between Normandy Real Estate Partners and Five Mile Capital Partners L.L.C., the deal is the largest pure investment sale transaction closed in the U.S. this year.
Economy Watch: Blizzard Puts Crimp in Retail Sales
ShopperTrak, which followed U.S. retail sales, said that the recent East Coast blizzard kept about $1 billion at home with consumers, rather than out being spent at shops on Dec. 26 and Dec. 27. That’s assuming a 10 percent impact on sales for the two days, which ShopperTrak estimates at about $10 billion.
Myriant to Build at Louisiana Port
Myriant Technologies’ new $80 million, 392,000-square-foot sustainable chemical manufacturing facility at the Port of Lake Providence will be the largest bio-based succinic acid refinery in the world.
Elbit Snaps Up U.S. Retail Properties
The $75 million deal will invest the Israeli firm’s strategy of increasing real estate holdings in the U.S.
Meridian Nails Down $200M in Financing for NYC Tower
After being lost by high-profile real estate investor Harry Macklowe in a foreclosure auction, 1330 Avenue of the Americas is being refinanced by its new owner.
Economy Watch: Housing Prices Take It on the Chin
The S&P/Case-Shiller Home Price Indices trended toward negative territory in October, while the 10-City Composite Index posted a meager 0.2 percent growth rate compared with the same month last year.