Business Specialties
JLL: Rents Expected to Keep Rising at U.S. Skyscrapers
Rents are rising and vacancy rates are falling at America’s trophy skyscrapers, spurred by aggressive investors, tightening supplies and the growing technology, energy and healthcare sectors.
SCA Signs Lease with Hines for 73 KSF of Office Space in Paris
International manufacturer SCA signed a nine-year lease with Hines European Core Fund (HECF) to occupy 73,000 square feet across three floors at the Eurosquare building in the Saint-Ouen business district in Paris.
Starwood’s Big Plans for Sheraton in 2014
Starwood Hotels & Resorts Worldwide expects the next 12 months to reach record growth for its Sheraton Hotels brand, with 35 new hotels expected to open in emerging markets.
Meridian Capital Arranges $142M for Acquisition of Brooklyn Office Property
Meridian Capital Group arranged a $142 million mortgage for the purchase of an office property in Brooklyn’s Fort Greene neighborhood on behalf of RXR Realty and American Landmark Properties.
Brookfield Acquires 460 KSF Office Asset in Dallas Suburb from Blackberry
Canadian investor Brookfield Property Group has bought Riverside Commons, a six-building, Class A office property in Irving, Texas, from Blackberry for an undisclosed amount.
Hackman Capital Buys Iconic 358 KSF Film Studio in Culver City, Calif.
Hackman Capital Partners has acquired The Culver Studios, a 358,200-square-foot independent film studio in Culver City, Calif., approximately 10 miles west of downtown Los Angeles.
Lend Lease Completes Phase I of $270M Mall Project in Australia
Lend Lease has completed Phase I in the redevelopment of Lakeside Joondalup, to become the largest shopping center in Western Australia.
Store Closures Predicted Due to Cerberus’ Purchase of Safeway for $9B
Although Cerberus stated no closures are expected as a result of its merging of Albertsons with Safeway, some analysts predict the transaction will result in duplication, calling for store closures in certain markets.
IHG to Develop 2 Additional Hotels in Germany
InterContinental Hotels Group has signed two additional hotels in Germany under two existing multiple development agreements with long-standing partners.
Google Capital Puts $50M into Auction.com
One of the world’s largest online real estate marketplaces, Auction.com, has received a $50 million investment, courtesy of Google Capital.