the Editors of Commercial Property Executive
Despite Sluggish Economy, Commercial Real Estate Demand Steady
This year should be sluggish for commercial real estate, but fundamentals will remain strong and U.S. economic growth will be enough to keep leasing markets stable, noted forecasts released today by Grubb & Ellis Co. and Jones Lang LaSalle Inc.With many economists predicting a 50/50 chance of an economic recession, “our outlook is realistic and hopeful that the economy can avoid a recession,” Bob Bach (pictured), Grubb & Ellis’s senior vice president & chief economist, told CPN. “But this is with the caveat that it is possible.” Overall, the Grubb & Ellis Co.’s 2008 Global Real Estate Forecast notes that…
New WTC Towers Ready for Construction
Construction is set to begin on two new towers at the World Trade Center site in Lower Manhattan as the Port Authority, which owns the site, nears completion of basement excavations for the buildings, known as Towers 3 and 4. The Port Authority said it would complete the excavation of Tower 4 by the middle of this month, with basement work on Tower 3 (pictured) finishing up two to four weeks after that. The announcement paves the way for Silverstein Properties, the developer of the actual towers themselves, to ramp up procurement and preconstruction work in anticipation of beginning work…
- « Previous
- 1
- …
- 292
- 293
- 294