Nicholas Ziegler
1.5 MSF Shanghai Office Trades for $500M
Investors with cash on hand are snapping up premier properties in Shanghai, and SOHO China Ltd.’s purchase of the 1.5 million-square-foot Shanghai New World Changning Commercial Center is among the latest transactions.
Economy Watch: Bated Breath for QE3, State Unemployment Barely Moves
The government reported a year-over-year drop of 1.3 percent in Americans’ wages amid talk of a meeting at Jackson Hole, Wyo., that may signal QE3. And while the Dow dropped on Friday, real assets like gold are growing in popularity.
Cree GmbH to Build First Unencapsulated Energy-Efficient, Timber-Hybrid Building
The first unencapsulated eight-story timber building will rise in Dornbirn, Austria, as Cree GmbH announces the groundbreaking ceremony for the world’s first LifeCycle Tower, LCT ONE, in September 2011.
Home Sales Down in July but Multi-Family Rentals Still Hot
According to the National Association of Realtors, existing-home sales fell 3.5 percent from June to July of this year, but the total volume is still 21 percent above the July 2010 mark of 3.86 million units.
Office, Data-Center Portfolio Sold for $138.5M in D.C. Area
Tysons East Metro Portfolio, a five-building complex encompassing approximately 310,800 square feet of office-and-data-center space in McLean, Va., has found a new home for the price of $138.5 million.
JLL Secures Nearly $300M in Loans for Two Dallas Properties
JLL’s capital-markets team has secured two new loans: a $205 million transaction for The Crescent through MetLife and a $93 million deal for the Trammell Crow Center through Northwestern Mutual.
A Deal for North L.A.’s Largest Industrial Lease of 2011
In the largest industrial-building lease this year in the Santa Clarita and San Fernando Valley area, Deluxe Media Management has taken a 229,450-square-foot lease in the Vista Business Park in Valencia, Calif.
$78M Journal Square Building in Jersey Sold to Israeli Investors
In a $78 million transaction, Israel-based Gaia Real Estate purchased the nine-story 2 Journal Square property in Jersey City, N.J., from Hartz Mountain Industries.
7-Eleven to Buy 51 ExxonMobil Stores in North Texas
7-Eleven Inc. has entered into an agreement to acquire ExxonMobil’s retail interests at 51 locations, including two unused land parcels, concentrated in the Dallas/Fort Worth area.
Two Big Houston Sales for HFF
It’s been a busy few days for HFF, as the firm moved two large Texas properties: an industrial park in Houston and a 342-unit multi-family community in a Houston suburb.