michaelratliff
August – Briefs/Finance
$200M Equity Investment Leads to 972 KSF Purchase; Swig, Silverpeak Refinance 900 KSF Manhattan Asset; Savanna Sells $158M Senior Note; Penzance, Invesco Land $94M Construction Financing; Prudential Closes First CRE Loan in U.K.; Lexington Realty Trust Lands $55M for Baltimore Tower; California Landmark Group to Invest $75M in M-F; HFF Arranges $85M for Houstonian Hotel.
August – Briefs/Leasing & Management
Cassidy Turley Wins 895 KSF Management Contract; C&W Arranges 1.1 MSF Industrial Lease Re-Up; First Potomac Signs Four Leases; SL Green Renews 373 KSF Lease with NYC Law Division; Green Mountain Takes 424 KSF in Boston BTS; JLL Lands 465 KSF Shorenstein Leasing Contract; MB Real Estate Inks Leasing Deal for 4 MSF; KBS Fills Georgia Office with 65,259-SF Lease; Miller-Valentine Wins Two Portfolio Contracts from Iron Mountain.
Cassidy Turley: CRE Recovery a Tale of Two Markets
In a year where the U.S. economy remains “stuck in a slow growth gear,” commercial real estate recovery is uneven and there are very clear winners and losers, according to Cassidy Turley chief economist Kevin Thorpe.
$7.5B Master Plan for D.C.'s Union Station Revealed
The group behind the comprehensive transformation of Washington, D.C.’s Union Station has revealed the Washington Union Station Master Plan, detailing a massive project that will cost approximately $6.5 billion to $7.5 billion to realize.
Economy Watch: Pending Home Sales and Unemployment Claims Drop; ECB May Buy Euro Bonds
The National Association of Realtors reported a drop in pending home sales in June, while the U.S. Department of Labor found a decrease in initial unemployment claims for the week ending July 21. In overseas news, the European Central Bank has vowed to preserve the euro at all costs, even if it means buying bonds.
Qatar to See New $1.7B Shopping Center, Country's First IKEA
Doha, the capital city of Qatar, is set to get a massive $1.7 billion shopping center. The promising complex will offer approximately 2.7 million square feet of space divided into 500 retail units. A large chunk of the space will be filled by the country’s first IKEA.
Economy Watch: Housing Starts Up in June; Beige Book Cautiously Optimistic; Bernanke Day Two
June housing starts increased 6.9 percent over May, with the majority of action on the single-housing front. The latest Federal Reserve Beige Book also took note of the improving housing market, though it was less optimistic about the general economy. Bernanke was back before Congress again on Wednesday, though he didn’t have much new to say.
Podcast – Property Managers
Jack Kern and Mike Ratliff take a closer look at the results from our 2012 survey of top property management firms. The results suggest that property performance is increasing as the economy continues to recover.
July – Briefs/Leasing & Management
Law Firms Signs for 420 KSF at CityCenterDC; Coty Extends Empire State Building Lease; Ventas, Kindred Enter Lease Agreement; John Muir Health signs for 114 KSF; BioMed Signs Aveo for 126 KSF; NGKF Completes 120 KSF Miami Lease; State Farm Renews with KBS.
July – Briefs/Sales & Development
Glimcher Buys 1MSF Hawaii Retail Center; Ivanhoe, Hines Announce $300M Chicago Tower; SL Green Grabs 304 Park Ave.; Weingarten Sells $382M Industrial Portfolio; HSBC, Edge Fund Advisors Buy 1.1 MSF NYC Asset; Shorenstein Picks Up Seaport Center; Cole Buys L.A.-Area Retail Center for $147M.