Nicholas Ziegler
JLL to Lease 1.1 MSF Office at 11 Times Square
SJP Properties, owner and developer of the year-old 11 Times Square in Manhattan, has tapped Jones Lang LaSalle to serve as the exclusive leasing agent for the 1.1 million-square-foot office tower.
Skanska JV Wins $522M Phase-One Construction Contract for New Orleans Hospital
Skanska USA and joint-venture partner MAPP Construction have secured the assignment to build phase one of the new University Medical Center in New Orleans. The $522 million contract is split 90-10, making Skanska’s share of the project $470 million.
Prologis Inks 540 KSF Industrial Deal in the Netherlands
Prologis has made a major acquisition overseas, signing a lease agreement with logistics provider Syncreon for approximately 540,000 square feet of industrial space at Prologis Park Tilburg in the Netherlands.
Economy Watch: New-Home Sales See Modest Uptick
The Census Bureau found that single-family home sales rose 1.3 percent in October. Yesterday’s Cyber Monday shopping looks to have broken sales records. And the IMF denied that Italy would receive a multi-billion euro bailout.
NAR: Growth in Commercial Real Estate Markets Expected in 2012
The name of the game lately is optimism. In its most recent report, the NAR asserted that while commercial real estate markets have been relatively flat in 2011, improving fundamentals should show a more positive trend in 2012.
Culver Center Sold for $115M in California’s Largest Off-Market Transaction in 2011
In California’s largest off-market, single-asset transaction in 2011, Equity One has purchased Culver Center in Culver City for $115 million.
Cassidy Turley Secures $95M Permanent Financing for Class A Building in Washington, D.C.
Cassidy Turley has secured a $95 million permanent loan for the McPherson Building, which overlooks Washington, D.C.’s McPherson Square Park.
Pramerica Sells Madrid’s Titán 4 to German Investor
Seven years after acquiring the Madrid office building known as Titán 4 in its development stage, Pramerica Real Estate has sold the 111,000-square-foot office tower in the Mendez Álvaro area to German fund manager Invesco.
Economy Watch: Retailers Clean Up over Thanksgiving Weekend
Americans certainly didn’t stay home from the stores on Black Friday, as reports indicate record-breaking retail sales. Today’s Cyber Monday numbers look to be similarly encouraging. And the bailout of Italy could cost up to 600 million euros.
Penzance, American Realty JV for D.C.’s 1130 Connecticut Ave.
Penzance finds a new partner in the ownership of the Class A office tower at 1130 Connecticut Ave. in Washington, D.C., through the establishment of a new joint venture with American Realty Advisors. ARA purchased a stake in the building previously owned by Greenstreet Real Estate Partners.