Corporate Real Estate
Economy Watch: Home Prices Up 2%, Construction Spending Increases 7%, Manufacturing Index Drops Below 50% Again
CoreLogic predicts that prices will continue to rise, perhaps by as much as 1.4 percent in June counting distressed properties, and 2 percent without them. On the construction front, private projects accounted for the entire increase, experiencing a 1.6 percent month-over-month uptick. Government construction spending dropped 0.4 percent compared with April.
U.S. Remains Most Transparent Market as Openness Advances Globally: Jones Lang LaSalle
Nearly 90 percent of the world’s markets have improved transparency since the last survey in 2010. This year Jones Lang LaSalle is also introducing a new index for transparency in sustainability.
424,000-SF Lease in Place for Suburban Boston BTS
Green Mountain Coffee Roasters Inc. has signed a 424,000-square-foot lease with Gutierrez Co., effectively paving the way for development of its build-to-suit office and R&D facility at the Burlington Research Center in the suburban Boston town of Burlington.
ULI: Real Estate Recovery Comes Amid Rebounding Investment; Worries Abound About Debt Capital Shortfall, Europe
Although investment capital is again flowing for CRE, speakers at the Urban Land Institute’s Real Estate Capital Markets Conference are concerned with relative dearth of debt capital, possible refinancing difficulties ahead and the current European economic crisis.
AREA Property Partners, Commonwealth Ventures Plan $225M Office Project in Boston
An 11-story Class A office building along the South Boston waterfront is moving closer to construction now that the Boston Redevelopment Authority has approved the approximately 500,000-square-foot, $225 million project planned by AREA Property Partners and Commonwealth Ventures.
Caliber Funding Selects NGKF as Portfolio Adviser for 100 Locations in 28 States
Newmark Grubb Knight Frank Global Corporate Services has secured a major outsourcing deal, the firm’s second in just over one month, as Caliber Funding chose the firm to manage the real estate mortgage lender and agency direct seller/servicer’s real estate transactions across the country.
Scalable Class A, 384 KSF Office Planned for Tempe Park
Metro Commercial Properties and USAA Real Estate have announced the next phase of high-rise office development in Tempe, Ariz., and the firms plan for a Class A office tower, dubbed Fountainhead Park Summit, of up to 14 stories and totaling up to 384,300 square feet.
PREA: 2012 CRE Returns Will Rise to Nearly 10 Percent
Commercial real estate firms expect the future of the U.S. commercial real estate market to continue to shine, as indicated by the results of the Pension Real Estate Association’s latest Consensus Forecast Survey: Survey participants in May anticipate full-year 2012 returns of 9.6 percent.
Distress Symposium Report: Opportunities Knock, but Change Must Come
The Distressed Debt & Assets Symposium, produced by Deloitte in partnership with New York University’s Schack Institute of Real Estate, saw panelists discuss how the lending landscape can improve, but only with “a commitment to change.”
Alexandria Signs 187 KSF of Life-Science Office Leases Near Boston
Metropolitan Boston continues to bustle and Alexandria Real Estate Equities is profiting from the activity, having just closed six leases totaling approximately 187,000 square feet at its Alexandria Park at 128 complex in suburban Boston’s Route 128 submarket.