Anna Spiewak
Harbor Group Int’l Acquires 55 Broadway for $157M
An affiliate of Harbor Group International has acquired the 358,600-square-foot Class A office property at 55 Broadway in Manhattan from an affiliate of Broad Street Development for $157 million.
Economy Watch: ADP Puts Private-Sector Job Creation at 191K; Home Prices Still Have Upward Momentum; Business Owners Do More Hiring in March
According to ADP’s estimates for March, the private sector added 191,000 jobs during the month. Home prices were up year over year in February by 12.2 percent. According to the National Federation of Independent Businesses, NFIB owners increased employment by an average of 0.2 workers per firm in March.
MARKET SNAPSHOT: Construction Recovery Gives Orlando a Boost
Central Florida’s residential market is most certainly experiencing a comeback in every domain imaginable.
HAP Investments to Buy 1 MSF Development Site in Jersey City for $400M
HAP Investments is under contract to acquire 500 Summit Ave., a nearly one-acre lot in Jersey City, in conjunction with its planned development of the Journal Square site into HAP Tower. It comprises a 42-story apartment building, offices and retail.
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E-Commerce, Technology Push Industrial Rents Upwards
As the e-commerce revolution becomes more mainstream in retail and in people’s buying habits, the need for faster delivery nationwide is spiking demand in warehouse distribution centers, indicating a likely increase in industrial rents for 2014.
Economy Watch: ULI/E&Y Forecast More Optimistic than Before; Construction Spending Peaks Slightly in February
The latest semi-annual ULI/E&Y Real Estate Consensus Forecast predicts that U.S. commercial property transaction volume will reach $430 billion by 2016, exceeding the volume of 2006. Construction spending edged up 0.1 percent month over month in February.
Real Estate Capital Partners JV Sells 2 MSF Adidas Distribution Center in Spartanburg, SC
Real Estate Capital Partners and IVG Institutional Funds have sold their 1.9 million-square-foot Adidas U.S. distribution center in Spartanburg, S.C.
Dan Probst: If You Build Some of It, They Will Come to Smart Buildings
Is your workplace—or your client’s workplace—in a smart building, controlled by automated “intelligent” systems that maximize occupant comfort and energy efficiency?
Economy Watch Weekly: Housing Market Slightly Slows—a Good Thing
CPE’s economic analyst, Dees Stribling, gives his update for the week ending March 28.
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