Business Specialties
WTC’s 1 MSF Condé Nast Lease to Lead Downtown’s Return to Glory
New York City’s office market has been in the slow-but-sure post-recession rebound mode for the last several months but the long-awaited announcement has created such a buzz that industry experts believe it will kick the recovery of Manhattan, and downtown in particular, into high gear.
Pillar Buys Former Nortel HQ
The $43.1 million transaction represents Pillar’s crack at capitalizing on the rebirth of the Dallas-area tech market.
Forest City Wins Gigs
The firm has just added nearly 2.2 million square feet to its portfolio.
Virtus Enters Student Housing Arena
The recession may have emptied out office buildings, but the hallways of campus housing facilities have remained relatively full, and Virtus Real Estate Capital has just positioned itself to capitalize on the sector’s enduring strength. Its new fund, Virtus Student Housing L.P., will invest in excess of $300 million in student housing properties.
PNC Plans Green HQ in Pittsburgh
The firm has unveiled plans to build a skyscraper in downtown Pittsburgh to serve as its new headquarters, stressing the green aspects it plans to include in the building and going so far as to call it “the world’s greenest skyscraper.”
Disney, Subway Expanding
Retail hasn’t exactly fully rebounded, but proving industry chatter correct, some chains have formally announced major expansion programs. Disney Store and Subway sandwich shops, riding the wave of a successful 2010, have made such commitments.
RECon Report: Economy Has Hit Bottom
According to Marcus & Millichap’s 2011 national retail report, cautious optimism is the order of the day.
Economy Watch: California Targets Mortgage Fraud, Rooftop Solar, Chicago Fed Index
The state of California has created a 25-member mortgage fraud task force, the aim of which is to investigate all variety of shady mortgages, while a Toys ‘R Us distribution center is soon to sport the largest solar roof in the country, and the Chicago Fed National Activity Index took a dive.
Winning the Competition for Loan Servicing
Given today’s still-limited loan production numbers, competition for third-party commercial loan servicing business can be pretty intense. Providers will need some new tools to get ahead.
CW Hires New Execs to Expand CRE Debt Placement
CW Financial Services is doing its part in the financial services business’s improvement with the hiring of four industry veterans to broaden the company’s menu of financing services, especially its debt placements.