Nicholas Ziegler
Edens & Avant Purchases Fort Lauderdale’s 155 KSF Union Planters Plaza
Union Planters Plaza in Fort Lauderdale, Fla., comes under new ownership as Edens & Avant acquired the 155,000-square-foot grocery-anchored shopping center from Wharton Realty Group for an undisclosed price.
Invesco and Partners Buy $880M Bank of America Loan Portfolio
Bank of America has sold an $880 million portfolio of 29 real estate loans to three buyers: a consortium involving two subsidiaries of Invesco Ltd., Square Mile Capital Management L.L.C. and Canyon-Johnson Urban Funds.
Skanska USA Begins $70M Lab and Office Building in Boston Area
Skanska USA has announced a $70 million investment in a laboratory and office building in Cambridge, Mass., capitalizing on the hot medical-property market in the Boston area.
SL Green, Stonebridge JV for NYC Retail, Multi-Family Buy
SL Green has entered into an agreement with Stonebridge Partners to acquire eight retail and multi-family properties in New York City for $416 million.
Economy Watch: Americans’ Incomes Lose Ground in August
The BEA on Friday said that Americans’ personal income decreased $7.3 billion, or 0.1 percent, in August. FICO bankers don’t see an increase in home prices until 2020, but a Reuters index shows consumers are less glum now than they were in August.
Panavision Takes 145,000 SF of Flex Space for HQ in Suburban L.A.
Angelo Gordon & Co. has taken its 145,000-square-foot office/R&D property at 6101 Variel Ave. in Woodland Hills, Calif., from vacant to full with the signing of Panavision, which will occupy the entire structure.
85,000 SF Lease Takes a Chunk out of Manhattan’s 685 Third Ave.
Marks Paneth & Shron L.L.P. just found a new home, as the accounting firm signed a lease for nearly 85,500 square feet of office space at 685 Third Ave. in Midtown Manhattan from building owner TIAA-CREF.
Dees Stribling’s Economy Watch Weekly
There were a few pieces of good news this week, but mainly, the world wants Europe to get its act together. CPE‘s economic analyst Dees Stribling gives his podcast for the week ending Sept. 30, 2011.
Inside the September Issue
Browse a digital edition of the entire print publication here. Economist’s View: What’s Your Bet: Car or Elevator? While some favor the low-density, suburbs-focused model of construction, there is still much to be said for the vertical constructions of city centers in terms of CRE investment. All other things being equal, urban development typically brings a much stronger return. By Hugh F. Kelly. Property Management: On the Front Lines Despite 10 years of advancement in emergency preparation, managers are still seeking to do better — and tenant involvement is just one of key ways that can happen. By Paul Rosta….
Edge, HSBC Get 100% Ownership in Times Square’s 1540 Broadway
After acquiring a 49 percent stake in 1540 Broadway last November, Edge Fund Advisors has partnered with HSBC Alternative Investments to take the remaining 51 percent stake in the 907,000-square-foot Times Square property.