Anna Spiewak
JLL: CRE Globalization Picks Up Pace in 2014
Commercial real estate transaction volumes on a global scale are up 23 percent year over year, reaching $130 billion, according to JLL.
Economy Watch: Federal Deficit Still on Downward Track; Delinquent, Foreclosed Mortgages Keep Dropping, Too
The federal government ran a budget deficit of $413 billion for the first six months of fiscal year 2014 . The six-month period saw a deficit $187 billion less than the same span last year. And delinquent mortgages were down 6.3 percent in February month over month.
Special Sustainability Report
Net-zero building roster grows, but district-wide applications falter.
LaSalle Acquires San Francisco’s Hotel Vitale for $130M
LaSalle Hotel Properties has acquired Hotel Vitale, a 200-key lodging in San Francisco, for $130 million.
Economy Watch: Employment Metrics Decent in March; Oil Imports Declining
Most categories of employment saw some kind of net increase during March. Total net crude oil imports fell during 2013 to 10.2 percent, the lowest level since 1996.
International: Georgia’s Tallest Residential Tower Rises on Black Sea Coast
Developed by locally based Tam Geo, the $80 million mixed-use Babillon Tower is rising in Batumi, a seaside resort city on the Black Sea coast and capital of Adjara, an autonomous republic in the country’s southwest region.
Economy Watch: Economy Creates 192K Jobs in March; Non-Manufacturing Sector Expands
The U.S. economy created 192,000 jobs in March. Economic activity in the non-manufacturing sector grew in March for the 50th consecutive month.
Green Growth
The fact that the number of companies with chief sustainability officers continues to increase on our ranking of greenest companies makes a real statement about the direction the real estate industry is taking. Rising from 12 out of 25 two years ago to 14 last year to more than 20 out of 27 this year—nearly the entire list—the prevalence of this management-level position illustrates the emphasis companies are placing on sustainability in their strategies. Many of the companies on this year’s list are repeat performers—leaders in the green movement—but the trend nonetheless reflects the steadily advancing efforts across the industry…
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