Anna Spiewak
Skanska Trades M-U Property in Seattle
National development company Skanska USA has sold its first Seattle property, Stone34, to a joint-venture buyer Unico Properties and the Laird Norton Co. for $70 million.
Economy Watch: Existing Home Sales, Chicago Fed National Activity Index, Philly Fed’s Coincident Indexes
Total existing-home sales fell in November by 6 percent compared with October. The Chicago Fed National Activity Index rose to +0.73 in November from +0.31 in October. The Federal Reserve Bank of Philadelphia reported that its coincident indexes increased in 44 states.
Another Big One: Vornado Sells Manhattan’s 1740 Broadway for $605M
Manhattan continues to lead the pack as the town with the biggest big-ticket office transactions in the U.S., as the 600,000-square-foot building at 1740 Broadway fetches roughly $1,000 per square foot. Vornado Realty Trust was the seller.
INTERNATIONAL: W.P. Carey Buys Build-to-Suit Distribution Facility in Poland
Global net-lease real estate investment trust W.P. Carey Inc. has acquired a new, 362,000-square-foot build-to-suit, light-industrial and distribution center in Opole, Poland.
Economy Watch: Statewide Unemployment, Travel
Forty-one states and the District of Columbia saw unemployment rate decreases in November compared with October. Travel on all American roads and streets was up by 2.6 percent compared to the same month last year.
DECEMBER ISSUE: Property Management–Shrinking Subleases
Post-recession strategies are limiting inventory as office demand rises.
INTERNATIONAL: Heitman Grabs Two M-F Portfolios in Amsterdam
Global real estate investment management firm Heitman L.L.C. has bought two separate apartment portfolios, for the first time in Holland.
INTERNATIONAL: Hyatt Sells Hotel in Vancouver, Builds New Lodging in Naha
Hyatt Hotels Corp. is selling the 644-key Hyatt Regency Vancouver and plans to develop a new Regency branded hotel in Naha, Japan.
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