Anna Spiewak
Beneficial Bank Inks 15-Year Lease in Philly High-Rise
Beneficial Bank, the oldest bank in Philadelphia, has signed a 15-year lease at 1818 Market St., taking four floors and 95,764 square feet in the million-square-foot high-rise owned by Sovereign Capital Management Group.
MTA Picks Transwestern to Manage 2 MSF NYC Portfolio
Transwestern will manage a 2 million-square-foot portfolio in the New York City region, including 2 Broadway in Manhattan, for the Metropolitan Transportation Authority.
Economy Watch: Apartment Market Still Robust; Leading Indicators Drop; Unemployment Rises
The apartment market is in great shape across the board; all four indexes came in above 50, which indicates improving conditions. The Leading Economic Index for the U.S. dropped 0.1 percent in March to 94.7. And initial unemployment claims were 352,000, an increase of 4,000 from the previous week’s revised figure of 348,000.
World View
These days, Matt Khourie is finally getting a breather from a task that has taken up a hefty portion of his three years as CEO of CBRE Global Investors: assembling a gigantic jigsaw puzzle.
Green Measures
Sustainability expert Tom Paladino evaluates progress toward the new industry standard.
TD Economics Report: CRE Economic Expansion, Job Growth
TD Economics, an affiliate of TD Bank, released a report forecasting a recovery in the housing market that bodes well for continued improvement in U.S. commercial real estate over the next two years.
$260M M-U Runway Project Underway in L.A.’s Playa Vista
Construction has gotten off the ground on Runway, the $260 million mixed-use center that will sit on the former runway of billionaire Howard Hughes’ aerospace complex in the L.A. community of Playa Vista.
Economy Watch: Housing Starts, Industrial Production Rise; Inflation Low
Housing starts were up in March by 7 percent compared to last month. The Consumer Price Index for All Urban Consumers decreased 0.2 percent in March. And industrial production rose 0.4 percent in March after an increase of 1.1 percent in February.
