Anna Spiewak
Economy Watch: Industrial Production Dips Due to Sandy; Thanksgiving Travel, E-commerce Rise
U.S. industrial production declined 0.4 percent in October after having increased 0.2 percent in September, according to the Federal Reserve on Friday. The AAA projects that 43.6 million Americans will travel 50 miles or more from home during the Thanksgiving holiday weekend. E-commerce, on the other hand, continues to grow rapidly.
Economy Watch Weekly: Who’s Afraid of the Fiscal Cliff?
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Nov. 16.
HFF Closes Sale of 177 KSF Office Building in Houston to International Buyer
Holliday Fenoglio Fowler represented an institutional owner in the sale of 777 Post Oak Blvd., a 176,799-square-foot office building in Houston’s Galleria/West Loop submarket.
Economy Watch: CPI Increases Slightly in October; Underwater Mortgages, Residential Mortgage Delinquencies Dip
The U.S. Consumer Price Index edged up to 0.1 percent in October. The number of underwater mortgages dropped in the third quarter, as well as mortgage delinquencies.
Ningxia International Conference Center–Bringing China and Islam Together in More Ways than One
The China-Arab States Economic and Trade Forum is set to move into a new home, as the Ningxia International Conference Center is well into its development process.
JLL’s Dan Probst Wins Next-Gen Buildings Award
Jones Lang LaSalle has garnered a new claim to fame in the sustainable development arena. Its very own Dan Probst, the commercial real estate services firm’s chairman of energy and sustainability services, just became the recipient of the very first VERGE 25 Award in the category of Next-Gen Buildings.
Economy Watch: Retail Sales, For-Sale Housing Inventory Drop in October; FOMC Looking at Changes
U.S. retail sales declined 0.3 percent from September to October, according to the Census Bureau. For-sale housing inventory continues to decline. The Federal Open market Committee plans to implement some changes to the federal funds rate.
Tishman Lands 129 KSF Tenant at Boston’s One Federal Street
Tishman Speyer, owner of the 1.1 million-square-foot tower, just signed an agreement with Iron Mountain for the information storage and management company to occupy the space as its headquarters under an 11-year lease agreement.
Vornado Undergoes $950M Refinancing of Manhattan’s 1290 Avenue of the Americas
Just several months away from completing a redevelopment of 1290 Avenue of the Americas in Manhattan, Vornado Realty Trust and the partnership that owns the 2 million-square-foot, 43-story building have completed a $950 million refinancing of the property.