Nicholas Ziegler
Economy Watch: Foreclosures Jump in October, Still Low Compared With 2010
Foreclosure activity nationwide was up 7 percent in October, but there was some good news domestically, such as a decrease in jobless claims. And the European panic took a break for the day.
MetLife Sells 50% Stake in Houston’s Wells Fargo Plaza to NY Fund
In a move to “diversify its portfolio,” MetLife Inc. announced that it has completed the sale of a 50 percent interest in Wells Fargo Plaza to New York State Common Retirement Fund.
780 KSF of Bronx Retail, Courtesy of Prestige Properties
In one of New York City’s larger projects this year, Prestige Properties has announced the development of a 780,000-square-foot retail center in the Bronx, to be anchored by a new Macy’s store.
Cleveland State, Co-Developers Break Ground on $50M Mixed-Use
In conjunction with partners Polaris Real Estate Equities and Buckingham, Cleveland State University has begun a $50 million residential project, the largest single such development in the city for more than three decades.
Economy Watch: Italy’s a House on Fire, Trucking Index Rises
Panic is setting in about Italy, the world’s eighth-largest economy. Zillow finds that residential prices have been flat for the last two quarters. And the trucking-based Pulse of Commerce index rose 1.1 percent last month.
Direct from ULI: Tom Toomey on CRE’s Challenges
Tom Toomey, CEO of UDR, discusses the three most important changes for real estate in the future: finding capital, a consistent set of political rules and civic accountability on the part of cities.
CoreNet Global Special Report: The Office of the Future
The picture of the future that emerged at last week’s CoreNet sessions in Atlanta had a few key themes — mobility, flexibility, technology — and CRE professionals grappled with an industry changing at the speed of light.
DivcoWest, Stockbridge Capital JV on $47M San Diego Office
In a $47 million transaction, DivcoWest and Stockbridge Capital have teamed up to acquire the 160,000-square-foot Genessee Executive Plaza in the University Town Center submarket in San Diego.
Suffolk Construction Awarded Contract for 488 KSF Boston Residential Tower
Suffolk Construction recently received the contract for the 27-story Kensington residential tower in Boston from the building’s owners and partners, Kensington Investment Co. and National Development.
Economy Watch: Conference Board Predicts Sluggish World Economy for a Decade, Berlusconi Out
The Conference Board released a big-picture report saying it’s going to be a long road ahead. Home prices in Las Vegas haven’t stopped dropping yet. And Italian PM Berlusconi will be out as soon as economic reforms are set.