Nicholas Ziegler
Cushman: Landlord's Market Approaches as Manhattan Office Vacancy Falls to 9%
Despite a lull in first-quarter leasing volume, Manhattan’s tightening office market is on track to give landlords the upper hand in the near future, according to projections released yesterday by Cushman & Wakefield Inc.
885 KSF UnitedHealthcare Center in Hartford Sells for $99M
CityPlace has closed on the sale of UnitedHealthcare Center in Downtown Hartford, Conn., for $99 million. Services firm Jones Lang LaSalle, which brokered the transaction, calls the property “the tallest building in Connecticut and the only office tower in Hartford greater than 30 floors.”
Clarion Picks up Seattle's 32-Story Qwest Plaza for $137M
CenturyLink has sold 1600 Seventh Ave., a 32-story, downtown Seattle office building, to Clarion Partners for $137 million. The telecommunications giant will continue to have offices in the 598,000-square-foot tower but retailer Nordstrom will be leasing most of the space.
Economy Watch: Not So Fast on That QE3
The FOMC dampened expectations of some kind of QE3 in the not-too-distant future. Mortgage delinquencies dropped 0.4 percent from January to February. And the U.S. Department of Commerce saw a 1.3 percent increase in new-equipment purchases in February.
2012 Distinguished Achievement Awards
Submissions are in for CPE‘s Distinguished Achievement Awards and winners will be announced in May.
Deadline Extended to Friday! Enter the 2012 Distinguished Achievement Awards Competition
Deadline extended to Friday, April 6! Be sure to submit your project, program or deal to the 2012 Distinguished Achievement Awards competition! The awards program, now in its second year, recognizes the commercial real estate industry’s most noteworthy properties, programs, projects and transactions.
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