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Cassidy Turley Named Leasing Agent for 1.1 MSF New Jersey Office Portfolio
Normandy Real Estate Partners has tapped Cassidy Turley to serve as the leasing agent for a 1.1 million-square-foot office portfolio in New Jersey, and in turn, Cassidy Turley has welcomed two of the real estate developer’s team members to the firm.
Alter Group to Develop Spec 606 KSF Industrial Asset in Phoenix
The Phoenix industrial market is growing hungry for large accommodations and The Alter Group plans to help satisfy users’ appetite with the construction of a 605,700-square-foot speculative warehouse/distribution facility at the real estate company’s Buckeye Logistics Center.
Quest for Growth Tops Agenda at NYU-Schack REIT Conference
Where is the growth in an age of uncertainty? Some of the industry’s most influential leaders wrestled with that timely question Thursday at the annual REIT conference organized by New York University’s Schack Institute of Real Estate.
Hicks Ventures Picks Up 141 KSF Across Two Houston Office Assets
Seeking a value-add opportunity in the hot Houston market, Hicks Ventures Ltd. has acquired two Class B office buildings in the area’s Energy Corridor with a total of 141,265 square feet from American Spectrum Realty Inc.
Economy Watch: Existing Home Sales Down
Existing-home sales dropped in March by 2.6 percent to an annualized rate of 4.5 million units. The Leading Economic Index rose by 0.3 percent in the same timeframe, despite weak data on jobs. And unemployment claims fell slightly, notching 2,000 fewer than in the previous week.
TIAA-CREF Takes Berlin Shopping Center for $447M
In a joint venture with German shopping center developer mfi Management, TIAA-CREF has snapped up Gropius Passagen, a 1 million-square-foot asset — the largest mall in Berlin — for approximately $446.5 million.
Economy Watch: Real Wages Decline in First Quarter
The BLS found that median weekly earnings for U.S. workers climbed 1.9 percent in a year, but the CPI advanced 2.8 percent in the same time period. And 8.2 percent of all loans held by Spanish banks are bad ones, according to the nation’s central bank.
Kennedy Wilson Sells Two Multi-Family Properties for $154M
Kennedy Wilson has shed two multi-family assets — 360 Residences in San Jose and Arbor Creek Apartment Homes in Beaverton, Ore. — for a total of $154 million to two separate buyers.
Morgan Stanley Signs 1.2 MSF Office Lease at NYC's One New York Plaza
In the largest single-asset office lease in New York City since 2008, Morgan Stanley has signed a lease for 1.2 million square feet of space at One New York Plaza with Brookfield Office Properties.
Economy Watch: New-Home Starts Take Dip
Housing starts took a 5.8 percent dip in March, according to the Census Bureau. The IMF expanded its projections to say that the world economy will grow by 3.5 percent this year. And investors appear very interested in Spanish debt, as the country sold 3.2 billion euros of bills on Tuesday.