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Economy Watch: Mortgage Settlement Done, Greek Deal Not
While the United States came to an agreement on robo-signing, the dance of the Greek bailout continues. Warren Buffett knocked gold investors as fearful. And U.S. initial unemployment claims continued to fall.
Pearson Signs 200 KSF Office Lease on Hoboken Waterfront
After signing Pearson to a 200,000-square-foot lease at the Hoboken Corporate Center across from New York City, SJP Properties will commence construction of a 500,000-square-foot building to complete its mixed-use complex.
Liberty Property Trust Builds 1.2 MSF Big-Box Industrial Space in Eastern Pa.
Capitalizing on the need for big-box industrial spaces, Liberty Property Trust is constructing a 1.2 million-square-foot speculative distribution property in Bethlehem, Pa., and has named Cushman & Wakefield Inc. as the exclusive leasing agent for the $62 million project.
GSA Taps Trump for $200M Redevelopment of D.C.'s Old Post Office Building
The U.S. General Services Administration has selected the Trump Organization as its preferred team to handle a $200 million redevelopment of the Old Post Office building and annex in Washington’s Federal Triangle neighborhood, turning the structure into a luxury hotel.
Economy Watch: Government, Banks to Ink Robo-Signing Settlement
The federal government, various state attorneys general and the largest banks in the country have struck a deal that would specify an assortment of mild punishments for the banks’ involvement in robo-signing. And despite discussions, there was still no clarity on the Greece situation coming out of Europe.
BioMed Realty Trust Takes Cambridge Place for $119M
BioMed Realty Trust Inc.’s presence in the Boston/Cambridge life sciences market will soon surpass 3 million square feet, now that the life sciences real estate REIT has entered into an agreement to purchase the 287,000-square-foot Cambridge Place in for $119 million.
Mesa West Provides $130M to Refi Hyatt Regency San Francisco
Mesa West Capital has provided a partnership involving affiliates of Dune Real Estate Partners L.P. and DiNapoli Capital Partners L.L.C. with a $130 million first-mortgage loan for the refinancing of the 802-room hotel in downtown San Francisco.
Israeli Investors Purchase Houston's 344 KSF The Plaza at Enclave Office Building
Continuing the trend of a high transaction volume in the Texas markets, Core Real Estate and BayNorth Capital Inc. have sold The Plaza at Enclave to an affiliate of Azrieli Group, a real estate development and investment company located in Tel Aviv.
TMG, Rockwood Sign San Francisco Technology Tenant to 168 KSF Office Lease
Riverbed Technology, an IT firm in San Francisco, has just found itself a new home with a 167,788-square-foot lease at 680 Folsom St., courtesy a transaction handled by TMG Partners and financial partner Rockwood Capital.
Economy Watch: Americans Go on Borrowing Spree
All species of consumer credit increased during the fourth quarter of 2011, according to the Fed. An optimism index published by Investor’s Business Daily improved 1.9 points for February. And the talks in Greece continue, proving to be nail-biting for investors.