Nicholas Ziegler
Economy Watch: Hiring Remains Strong in February
The BLS reported that the economy created 227,000 jobs in February. Both commercial property and multi-family mortgage delinquency rates declined during the fourth quarter of 2011. And the conclusion to the Greek debt deal was anticlimactic.
BioMed Realty Trust Signs Biotech Firm to 220 KSF Lease in San Francisco
BioMed Realty Trust Inc. is not naming names, but the REIT just landed a big fish at its 1.4 million-square-foot Pacific Research Center in Newark, Calif. A private biotech company has signed a long-term lease for 220,000 square feet at the sprawling campus in San Francisco’s East Bay submarket.
CBRE to Market, Lease Next Phase of $631M Hong Kong Science Park
The Hong Kong Science and Technology Parks Corp. has appointed CBRE Group Inc. as the strategic marketing and leasing consultant for the $631 million Phase III of the Hong Kong Science Park.
Inland Real Estate Picks Up Two Ohio Shopping Centers for $109M
In two separate transactions, Inland Real Estate Corp. has spent an aggregate $109.4 million on Ohio shopping centers. The first deal, closed on the last day of February, saw the company pick up the Cincinnati-area Stone Creek Towne Center for $36 million, and earlier this week, Inland spent $73.4 million on Westgate Shopping Center in Fairview Park, near Cleveland.
How will DoD's BRAC Affect Office REITs?
By Jonathan Morris, Managing Director, Jones Lang LaSalle Inc.’s Capital Markets Group
The federal government, principally the U.S. Department of Defense, has shifted into gear to reduce its use of office space in the Washington, D.C., metropolitan area through the Base Realignment and Closure initiative, which will have significant ramifications for office REITs.
Bringing Lazarus Projects Back to Life
By Marcelo Bermúdez, President, Figueroa Capital Group, a subsidiary of Charles Dunn Co.
If you’re sitting on a stalled contract, letting go of old assumptions and dreams can mean the resurrection of your Lazarus project sooner than you think – but you need to make the right adjustments.
Multi-Family Still Solid, but Beware of Toxic CMBS Pockets
Multi-family has been the darling of the recovery, but it’s also one of the worst performing property types in terms of delinquencies for Fitch-rated CMBS. But the good news is that most of the toxic assets are contained in small pockets – ones that can be avoided.
Avison Young Opens Bethesda, Reno Offices
Avison Young, the largest independently owned commercial real estate services firm in Canada, continues its rapid expansion south of its border with the purchases of Bethesda, Md.-based Realty Management Co., and the opening of an office in Reno, Nev.
Tryko Partners Makes Two Baltimore-Area Multi-Family Pickups
Tryko Partners L.L.C. is having a busy week, as the firm has just picked up Park Raven, a 253-unit apartment community in Baltimore, and Perrywood Garden, a 184-unit property in nearby Aberdeen, Md.