Nicholas Ziegler
Shell Re-Ups, Signs "Largest Lease Transaction in the World" in Houston
In what Hines is calling the “largest lease transaction in the world in 2011,” the firm’s Houston office has re-signed Shell Oil Co. for a 1.2 million-square-foot lease.
Economy Watch: Strong Medicine For the Euro-Zone, Online Spending Hits Records
France and Germany told the other euro-zone nations that it’s time for centralized fiscal control. The Conference Board showed employment gains in November. And Cyber Monday alone saw nearly $1.3 billion in sales.
SL Green Spends $80M, Now Owns Entire Block in Midtown
The latest Midtown pickup the approximately $80 million purchase of 51 E. 42nd St., an 18-story, 142,000-square-foot office building that faces Grand Central Terminal by SL Green.
TF Cornerstone Gets $265M Loan for Long Island City Project
TF Cornerstone has secured $265 million in financing from a consortium of four banks for the development of 4545 Center Blvd, an 850-unit luxury apartment high-rise that will sprout up in Long Island City, Queens.
Breaking News: Equity Residential to Pick up $1.3B, 26.5% Ownership in Archstone
In a huge move for the Sam Zell-helmed Equity Residential, the firm has entered into a contract for a 26.5 percent ownership stake in Archstone, a privately held owner, operator and developer of multi-family apartment properties.
$4B Better Buildings Challenge Unites Government, Private Sector
Saying “we can’t wait for Congress to act,” President Obama on Friday announced that over the next two years, nearly $4 billion in combined federal and private-sector money will be surging into energy upgrades to buildings.
PCCP Provides $69M for Salt Lake City Mall Renovation
In a renovation deal that will be ready for next year’s holiday season, PCCP announced last week that it provided a $69.2 million senior loan to recap and improve Salt Lake City’s Valley Fair Mall.
Washington REIT to JV with Trammell Crow on $95M Virginia Apartment Community
Capitalizing on the growing demand for residential rentals in metropolitan Washington, D.C., Washington Real Estate Investment Trust has entered into a joint venture with Trammell Crow Co. to build an apartment high-rise in Alexandria, Va., for $95 million.
Economy Watch: Job Numbers Mediocre, but Not All Bad
Job numbers in the private sector were generally up for November, but government employment trended downward. A majority of Americans have been left in poor financial shape due to the recession. And investors will nervously watch the upcoming meetings on the euro situation.
Dees Stribling's Economy Watch Weekly
Dees Stribling’s Economy Watch Weekly: The U.S. is still tepid, but at least the euro-zone situation didn’t blow up this week. CPE‘s economic analyst Dees Stribling gives his podcast for the week ending Dec. 2, 2011.