Business Specialties
Economy Watch: CRE Prices Out of Trough: Green Street
Green Street Advisors reported on Tuesday that its Commercial Property Price Index rose by 1 percent in February, compared with the previous month. According to the company, U.S. commercial property values have now risen by a little more than 10 percent since hitting a trough in May 2009, but values are still off by roughly 30 percent from their ’07 peak.
Latin America’s Data Center Market to Experience 61% Growth Spurt by 2014
The data center real estate sector in areas across Latin America will grow by an average 61 percent by 2014, according to a recently released report by London-based international consulting firm BroadGroup.
Cassidy Turley Officially Launches
It’s been in the works for years and now it is official: Cassidy Turley has officially launched.
Economy Watch: More Consumer Spending
According to the U.S. Department of Commerce on Monday, consumer spending ticked upward by 0.5 percent in January. The gain followed a 0.3 percent increase in December, and was more than economists expected.
Kennedy Wilson Kicks Off New Investment Platform with $342M Loan Acquisition
Plenty of firms have formed new divisions to snap up loans on distressed commercial real estate and Kennedy Wilson is among them. The Beverly Hills, Calif.-based real estate investment and services firm has made its first move for its newly created investment platform, and it’s a big one.
Transition Year
The office vacancy rate is nearing its peak for this cycle, but the market will remain soft in 2010, according to Josh Scoville, director of strategic research for PPR, a CoStar Group company.
Ready to Buy?
When will the distressed-asset market reach a point at which buying such properties will make sense? Respondents to CPE’s latest fast poll largely think the time is now or fast approaching.
Economy Watch: Buffett Says Don’t Worry Too Much
What does the Oracle of Omaha now have to say about the housing market? “Within a year or so residential housing problems should largely be behind us, the exceptions being only high-value houses and those in certain localities where overbuilding was particularly egregious,” Warren Buffett noted in his letter to Bershire Hathaway shareholders on Friday.
Public Tiff Between Simon and GGP Continues with Statements on New $2.5B Bid
It all seemed to have started out innocently enough, with Indianapolis-headquartered Simon Property Group Inc.’s $10 billion cash offer on February 8 to buy beleaguered Chicago-based General Growth Properties Inc. But now it’s turned into a written war of words.
Port Authority Awards $542M Contract for WTC Transportation Hub
The Port Authority Board of Commissioners has awarded the largest contract to date — $542 million – to Skanska USA Civil Northeast, Granite Construction Northeast, and Skanska USA Building.