Nicholas Ziegler
Dees Stribling's Economy Watch Weekly
Consumers were more confident and out spending more last month, despite sluggish income growth and declining housing values. CPE‘s economic analyst, Dees Stribling, gives his podcast for the week ending March 30, 2012.
Wilder Cos. Nabs 412 KSF Retail Management Contract for Two Properties
The Wilder Cos. has just added 412,000 square feet of shopping-center responsibilities to its plate. The retail real estate services firm won a contract to spearhead leasing and management at Suburban Philadelphia’s The Shops at Valley Square, and another assignment to provide the same services at Somerset Square, located just outside of Hartford, Conn.
Even More for Inland American: $393M in Hotel Purchases
Inland American Lodging Group Inc. continues to add upper-upscale and luxury assets to its portfolio, acquiring five hotels in five states with a total of 2,302 rooms this week for about $393 million.
Economy Watch: Initial Unemployment Claims Down, 4Q GDP Stands Pat
Unemployment claims for the week ending March 24 dropped by 5,000 to reach 359,000. The OECD sees economic growth for America, but a slower road for the large euro-zone economies. And home sales in Las Vegas were up in February, driven by all-cash buyers.
Inland American Spends $113M on San Francisco Airport Marriott
In a deal valued at $112.7 million, Inland American Lodging Group has acquired the San Francisco Airport Marriott in Burlingame, Calif., from Host Hotels & Resorts.
ULI: Industry to See Improvements Through 2014, Bolstered by Cap Markets
“Is distress in the real estate markets behind us?” was the main question on the minds of the respondents to the latest survey by the Urban Land Institute — and the consensus seemed to be a cautious “yes.”
Reports Suggest Marriott's Two New Downtown L.A. Hotels Badly Needed
All the hoopla surrounding the announcement of a $172 million, two-hotel project near the Los Angeles Convention Center looks like more than mere boosterism. The city needs modern hotel product to continue attracting convention dollars.
Boston's New Longwood Life-Sciences Building Leases 154 KSF
Courtesy of a many-layered deal involving multiple joint-venture partners, Boston’s Longwood area will see the construction of a 413,536-square-foot life-sciences center — and Dana-Farber Cancer Institute has inked a 154,000-square-foot lease in the property.
Economy Watch: Governments Out to Pop Oil Bubble
Reports by British, French and American sources said that the countries are considering releasing strategic oil stocks. Despite the increase in fuel costs, total truck tonnage on American roads was up 0.5 percent in February. And orders for durable goods increased 2.2 percent in February.
Around the Industry: Hirings and Promotions
News from around the industry: JLL gains two managing directors and an SVP; Cresa hires a new SVP; and Red Mortgage Capital, Rockefeller Development Group and Avison Young all add to their offices as well.