Business Specialties
$600M Cleveland Casino Moves Forward with Land Purchase
Developed by Rock Ohio Caesars Cleveland L.L.C., the project is one of four to emerge from a constitutional amendment approved by the state’s voters in 2009.
Forest City Sells Stake in L.A. Apartment Complex to JV Partner CalPERS
Forest City cites an attractive 4.5 percent cap rate in its decision to sell its 50 percent share of the property, developed jointly with CalPERS.
CMBS Delinquencies Hit New Peak, but Growth Rate Slows: Trepp Report
By Paul Rosta, Senior Editor CMBS delinquencies reached an all-time high of 9.34 percent last month, but that dubious distinction may mask something of a silver lining. Although the total delinquencies may continue to tick up for a while, they are also increasing far more slowly than they were just a few months ago, according to Trepp L.L.C. “While the rate continues to head higher, optimists can point to the fact that the rate of increase is significantly smaller than it was in the prior two months,” said Marius Clancy, managing director at Trepp, in a statement accompanying the monthly…
Washington Office Building Commands $137M in Sale to Joint Venture
Carr Properties, the Canada Pension Plan Investment Board and MetLife bought the 341,433-square-foot asset from Tishman Speyer.
JLL Hires Data Center Expert Warner
Jason Warner will be responsible for expanding the mission critical solutions department throughout the West Coast along with coordinating with the firm’s corporate solutions group and its corporate clients’ technical real estate needs.
MBA Talks Real Estate Finance
The Mortgage Bankers Association shared its annual assessment of the commercial real estate industry during its recent State of the Real Estate Finance Industry media conference call, during which the association also discussed its legislative and regulatory agenda. So what’s going on in the commercial real estate finance industry? In a nutshell, uncertainty about jobs and the economy.
Wisconsin Industrial Recovery Continues
A national presort services firm signed a long-term lease agreement for most of the space at 9053 N. Deerwood, a 154,400-square-foot warehouse/distribution facility within the 40-acre Brown Deer Business Park, which is owned by HSA in a joint venture with Morgan Realty Partners. The 10-building industrial and office complex sits approximately 10 miles north of downtown Milwaukee.
11 Times Square’s 400,000-SF Anchor Tenant Moves In
International law firm Proskauer Rose L.L.P. has taken space at the newly constructed 1.1 million-square-foot office and retail building developed by SJP Properties in Midtown Manhattan.
CoreSite to Expand Project
With development rights secured for the Santa Clara campus, three new data centers and an electrical substation will join the firm’s existing 50,000-square-foot data center at 2901 Coronado Drive, a 10-month-old facility leased in its entirety to a single tenant.
Tishman Speyer Plans Tower in Frankfurt
The company just revealed plans to build TaunusTurm, a premier 650,000-square-foot office tower in the German city’s financial hub.