Business Specialties
Economy Watch: GGP Says No Thanks, Simon (For Now)
General Growth Properties hit the ball back to Simon Property Group’s side of the court on Tuesday by calling Simon’s $10 billion takeover bid a trifle low. GGP then invited other interested parties to make their own bids, and even offered to provide financial projections and data on its shopping malls to potential suitors.
Economy Watch: Foreclosure Wave to Continue
Irvine, Calif.-based John Burns Real Estate Consulting Inc. has released a study positing that some 5 million houses and condos already delinquent will go through foreclosure or short sales in the next few years. That’s most of the 7.7 million U.S. households currently delinquent.
Brookfield Snaps Up 2.9M-SF JPMorgan Chase Office Portfolio in $200M Deal
Talk about the deal of all deals. Toronto, Ont.-headquartered Brookfield Real Estate Opportunity Fund has just closed the purchase of a 2.9 million-square-foot U.S. office portfolio from New York City-based JPMorgan Chase in a quasi sale-leaseback transaction for –according to the Wall Street Journal — $200 million.
Economy Watch: U.S. Retail Sales See Uptick
According to the U.S. Department of Commerce, January retail sales rose 0.5 percent compared with December and 4.7 percent compared with January 2009.
Jones Lang LaSalle Named Leasing Agent for $43M Liberty Wharf Project
Jones Lang LaSalle has been named the exclusive leasing agent for Liberty Wharf, a $43 million, 74,000 square foot mixed-use development on the South Boston Waterfront.
Richfield Hospitality Plans Aggressive Expansion
Hotel management company Richfield Hospitality on Friday announced a major new growth strategy designed to aggressively expand its core third-party management business.
Economy Watch: Existing Home Sales, Prices Up in Some Places
Existing home sales and prices both bumped upward in some, but hardly all, U.S. metro markets in 4Q09, according to the National Association of Realtors in a report on Thursday.
One Hudson Square to Welcome New 115,000-SF Tenant
With anemic occupancy levels still plaguing Manhattan, Horizon Media Inc.’s lease of 115,000 square feet of office space in the million-square-foot building at One Hudson Square in Midtown South is no small affair.
Economy Watch: Ceridian Unveils New Economic Index Based on Trucking Fuel Data
There’s a new kid in town in terms of economic measurements: the Ceridian-UCLA Pulse of Commerce Index. It was released to the public for the first time on Wednesday by the University of California-Los Angeles Anderson School of Management.
Economy Watch: Some Optimism From the Employment Trends Index
The Conference Board Employment Trends Index rose again in January, for the fifth month in a row. the index now stands at 93.2, up 1 percent from December, but down 0.7 percent compared with January a year ago.