Nicholas Ziegler
Economy Watch: The Debt-Default Time Bomb, Bernanke’s Strong Warnings, Commerce Weak but Gaining
The default countdown continued on Wednesday, unimpeded by progress on a deal to raise the federal debt ceiling. Ben Bernanke on Wednesday mostly talked of monetary policy but also warned of the perils of default. And the Pulse of Commerce Index rose 1 percent in June, a rebound following declines in the previous two months.
Empire State Building Keeps Getting Greener
After undergoing a retrofit initiative in 2009, the tallest building in New York City has achieved Energy Star certification for 2010, its second year in a row.
Purchase of Atlanta’s Historic Sears Building Paves Way for $180M Rehab
The 2.1 million-square-foot Sears building in Atlanta is one step closer to becoming the mixed-use Ponce City Market now that Jamestown Properties has completed the $27 million acquisition from the city of Atlanta.
Cassidy Turley Lands 7.8 MSF Industrial-Portfolio Management Contract
It’s a big one. Cassidy Turley has been tapped by IndCor to manage a 7.8 million-square-foot portfolio of industrial assets across cities in the central United States.
Economy Watch: Businesses Nervous About Debt Ceiling, Employment JOLTS Stay Flat, FOMC Quiet on Stimulus
In an open letter to the president and Congress, a sizable group of business organizations and executives urged action on the debt ceiling. Both the hires rate and the separations rate were again little changed, at 3.1 percent for both. And the Federal Open Market Committee remains noncommittal on the prospect of a further stimulus.
JLL Brokers 149 KSF Distribution Center for Herbalife in Carson, Calif.
JLL found Herbalife a new distribution-center home in Carson, Calif., in a 148,908-square-foot industrial space.
Prudential, Perella Weinberg JV Opens Access to $1B in CMBS
It’s a new day for Prudential, as a new joint venture with Perella Weinberg Partners will allow the financial firm to begin issuing CMBS, effective immediately.
Cole’s Buying Binge Continues with $76M Atlanta-Area Purchase
Cole follows up a three-property deal earlier this month with a $76 million acquisition of the 425,000-square-foot Camp Creek Marketplace in East Point, Ga.
Economy Watch: Conference Board, Railroad Indexes Contradict; U.S. Debt Still Under Debate
The Conference Board’s Employment Trends Index increased slightly in June, but the Association of American Railroads, a little-followed but important gauge of the economy, reported that last month’s traffic was down 0.7 percent from May.