Featured
Economy Watch: ADP Reports Jobs Increase
Payroll specialist ADP Employer Services reported on Wednesday that the U.S. private sector added 216,000 jobs in February. Forbes magazine released its annual list of the world’s billionaires. And the Fed said that consumer credit spiked in January by $17.8 billion — more than expected.
Tryko Partners Makes Two Baltimore-Area Multi-Family Pickups
Tryko Partners L.L.C. is having a busy week, as the firm has just picked up Park Raven, a 253-unit apartment community in Baltimore, and Perrywood Garden, a 184-unit property in nearby Aberdeen, Md.
NKF Nabs Contract to Lease Boston's Faneuil Hall
Ashkenazy Acquisition Corp., the manager of Boston’s Faneuil Hall Marketplace, has awarded Newmark Knight Frank the contract for office-positioning and leasing responsibilities for the city landmark.
Economy Watch: EU Recession Spooks Investors
The EU reported on Tuesday that the euro zone is in a “mild recession.” U.S. residential foreclosure sales were up sharply in January, some 29 percent more than in December. And Green Street Advisors’ Commercial Property Price Index didn’t budge in February.
CBRE: 2012 Expected to be Strong Year for Manhattan Hotels
Last year was a good year for the Manhattan hotel market and, according to CBRE Group Inc.’s Winter 2012 Snapshot, this year will bring more of the same: solid performance and rising investment sales volume.
Mid-City L.A. Shopping Center Completes Construction
Developer CIM Group has completed construction of the 330,000-square-foot Midtown Crossing retail center in Mid-City Los Angeles, which targets the more than 1.3 million residents within a five-mile radius.
Sequoia Equities Purchases $52M California Multi-Family Complex
Institutional Property Advisors, a relatively new division of Marcus & Millichap Real Estate Investment Services Inc., has arranged the sale of River Oaks Apartments, a 318,768-square-foot luxury apartment complex in Vacaville, Calif., for $52.4 million. GID of Boston sold the property to Sequoia Equities.
Economy Watch: China Drops Growth Estimate, Wants Stronger Consumer Economy
China lowered its GDP target from 8 percent to 7.5 percent and plans a stronger emphasis on consumption. The ISM’s Non-Manufacturing Index rose 0.5 percent in February to 57.3. And the G8 summit, originally slated for Chicago, will instead be held in Camp David, Md.
Macy's Signs 243 KSF Office Lease in San Francisco
Macys.com, the e-commerce-division of Macy’s Inc. department store, has just signed a lease with a joint venture involving TMG Partners and Rockwood Capital to occupy 242,600 square feet at 680 Folsom St. in San Francisco.
Kilroy Realty Buys Bay-Area Office Park for $162M
Kilroy Realty Corp. of Los Angeles has purchased Menlo Corporate Center in Menlo Park, Calif., for approximately $162.2 million. The seven-building, 374,000-square-foot park is 79 percent occupied by 10 tenants.