Anna Spiewak
Economy Watch: Economy Expands 2.6% in Q3; Pending Home Sales, Initial Unemployment Claims Drop
Real gross domestic product increased at an annualized rate of 2.6 percent in the fourth quarter of 2013. But the Pending Home Sales Index dropped to 93.9 from a downwardly revised 94.7 in January. Also, for the week ending March 22, initial unemployment claims were down by 10,000 from the previous week.
Live Chat with Transwestern’s Walter Byrd
Join CPE’s live Twitter chat on Thursday, April 10 at 2 p.m. (EST) with Transwestern’s Southeast Managing Director for Agency Leasing: Industrial Walter Byrd, as he discusses free trade zones and industrial real estate. Byrd is recognized as one of the top brokers in the South Florida marketplace. During his career, he and his team have represented some of the largest corporate users in South Florida, have leased properties on behalf of many major institutional owners, and have helped clients purchase and sell assets. Walter serves on the board of directors for Transwestern, and is on the advisory board for the Center of…
Transwestern Enters into JV, Plans Expansion into Mexico
Transwestern Development Co. is expanding its industrial development platform in the United States and Mexico through a joint venture with Chicago-based Ridge Property Trust.
Economy Watch: Serious Residential Delinquencies Still Down; Durable Goods Orders Up
Single-family serious delinquency rate dropped from 2.4 percent in January to 2.3 percent in February, lowest since February 2009. New orders for durable manufactured goods increased 2.2 percent in February month over month.
Dermody Properties Breaks Ground on 624 KSF Facility in Northern Nevada
National industrial development firm Dermody Properties broke ground on a 624,000-square-foot warehouse and distribution building in its new LogistiCenter 395 industrial park in Reno.
Market Snapshot: New Jobs, Rental Stock Fall Short in Stabilizing L.A. M-F Market
Now that the job market is vastly improving, with payroll levels set to reach pre-recession highs, vacancy will maintain its relatively tight average values in Los Angeles.
Economy Watch: Housing Price Appreciation Slows; New Home Sales Down
Twelve cities and the 20-city composites saw their annual rates drop compared with December, hinting at slower appreciation for many housing markets. Sales of new single-family houses in February 2014 were 3.3 percent below the revised January rate.
Across the board, the vast majority of markets have seen consecutive rent growth.
–John Sikaitis, managing director of Research at JLL
AIG, Associated Estates Enter JV to Build $220M M-U Development in San Francisco
AIG Global Real Estate and Associated Estates Realty Corp. have entered into a 50:50 joint venture partnership to build a 3.4-acre site at Eighth and Harrison streets in San Francisco.
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