the Editors of Commercial Property Executive
Economy Watch: Retail Sales Peak in November; PPI, Unemployment Drop
Retail sales increased month over month in November. The Producer Price Index for finished goods fell in November, compared to the previous month. And unemployment claims continue dropping.
Hines Opens Landmark Project in Milan
International real estate firm Hines has announced the opening of a new 161,400-square-foot public space at its 71-acre master-planned Porta Nuova project in Milan, Italy.
CBRE Global Investors Closes U.S. Value-Added Fund
CBRE Global Investors has closed its Strategic Partners U.S. Value 6 L.P. fund with equity commitments of almost $1.1 billion from 22 institutional investors, surpassing its $750 million target.
Vintage Purchases 407 KSF Oregon Mall
Vintage Real Estate has acquired Heritage Mall in Albany, Ore., from a consortium of lenders, which removed $38 million in debt from the property.
Economy Watch: Retail Gains Jobs, Construction Loses Them; Railroad Traffic Mixed; Consumer Sentiment Drops
Employment increased in the retail trade, professional and business services, as well as healthcare, but construction lost jobs in November. Intermodel traffic saw an increase in November again; the number of carloads shipped by rail, on the other hand, was down year over year. And the consumer sentiment index for December showed an unexpected decline.
Economy Watch: November Employment Gains Flat; Household Net Worth Peaks
Employment growth has averaged about the same monthly job gain as in 2011. U.S household net worth has increased during the second quarter compared to the same quarter last year. And Wall Street was up on Thursday.
When Does It Makes Sense to Purchase Your NNN Building?
By Randolph Mason, CCIM, SIOR, Partner, Commercial Realty Specialists: The decision to buy your own building is a question that plagues business owners and investors on a consistent basis.
Retail REITs – Stabilizing Fundamentals Support Stable Credit Outlook for Sector
By Merrie S. Frankel, Moody’s Investors Service, Vice President & Senior Credit Officer: Real estate fundamentals for retail properties have stabilized further over the past several quarters. Occupancy, leasing spreads and renewals, have all improved, which also bodes well for the credit ratings of retail REITs.
Insanity: The New Norm
By Kenneth P. Riggs, Jr., Chairman & President of Real Estate Research Corp.: Insanity — doing the same thing over and over again and expecting different results.
-Albert Einstein
Related Cos.’ Hudson Yards Breaks Ground on 26-Acre Manhattan Site
After years in the planning stages, construction of New York City’s largest private development since Rockefeller Center finally got underway Tuesday as city officials joined leaders of Related Cos. and Oxford Properties Group at the groundbreaking of the 26-acre, mixed-use Hudson Yards project.