Nicholas Ziegler
BMO Harris Bank: Midwest CRE to Improve in 2012
According to a new report by BMO Harris Bank, the Midwest is set for a recovery in its CRE markets during the rest of the year.
NorthMarq Arranges $59M in Financing for Chicago's 400 S. Jefferson Building
In an effort to help push along the schedule for Chicago’s 400 S. Jefferson building, NorthMarq has arranged $58.5 million in acquisition and renovation financing for the property.
Economy Watch: Investors Rush to Sell
Wall Street was feeling upset on Tuesday and stocks suffered their largest single-day loss so far this year. The BLS found that the number of job openings remained static from January to February. And Zillow reported a 0.5 percent drop in U.S. home values in the same period.
MRA Group Sells 800 KSF Pennsylvania Tech Park
MRA Group has sold TEK Park, an 800,000-square-foot technology campus in Pennsylvania’s Lehigh Valley, to a New York-based investment group for more than $50 million.
Extension of Chicago’s Lake Shore Drive Latest Step for 600-Acre Mixed-Use Development
The announcement that Chicago’s Lake Shore Drive will be extended two miles south also highlighted the progress of Chicago Lakeside Development, a 600-acre mixed-use redevelopment of a former U.S. Steel South Works site.
CIM Buys Chicago’s Block 37 from BoA
CIM Group, the Los Angeles-based real estate fund, has closed on Chicago’s troubled Block 37 development. The fund purchased the property from Bank of America for a reported $84 million.
Economy Watch: Are Gas Prices Stabilizing?
Two national surveys suggest that gas prices may have peaked, at least in the short term. The CPFB is planning to release new rules on mortgage lending. And retail vacancies declined 0.2 percent in the first quarter of 2012.
Opus Group Named Contractor for 165 KSF Build-to-Suit Office HQ in Colorado
Opus Development has won the bid for the 165,000-square-foot build-to-suit contract for TriZetto Group Inc.’s new $110 million global headquarters in metropolitan Denver.
Glenn Rufrano on the 2012 Global Outlook
Glenn Rufrano, CEO of services firm Cushman & Wakefield Inc., discusses the modest upswing the global commercial property markets will see in 2012.