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JLL: Hotel Investment Volume to Hold Steady in 2012
A new report by services provider Jones Lang LaSalle suggests global hotel transaction volume in 2012 will hold steady with last year’s total, hitting the $30 billion range.
Cuomo’s Convention Center Plan: A Gamble in Any Form
While New York Gov. Andrew Cuomo’s plan for the $25 billion revitalization of the state — including a convention center, hotel and casino in Queens — is ambitious, is it the right move?
Strategic Storage Trust Spends $80M on 12 Self-Storage Facilities
Strategic Storage Trust Inc., a publicly registered non-traded REIT in the self-storage space, has just picked up a portfolio of 12 properties in Georgia and Florida. The buildings, which total approximately 8,000 units across 1 million square feet, were purchased for $80 million.
Cole Real Estate Takes a Piece of Chattanooga-Area Shopping Center
Cole Real Estate Investments has purchased 153,000 square feet in the Cleveland Towne Center in Tennessee from a joint venture composed of Batson-Cook Development and Warren Commercial.
Economy Watch: Modest Gains for CRE Predicted in '12, Autos Have a Strong '11
Grubb & Ellis is predicting a banner year for multi-family, but isn’t so optimistic for office. U.S. manufacturing was a bright spot at year’s end, with cars leading the way. And Wall Street is appearing to wait on the week’s employment numbers before making a move.
Digital Realty Trust Spends $148M on Data Centers in San Francisco, Atlanta
For a purchase price of $85 million, Digital Realty Trust Inc. has become the new owner of San Francisco’s 360 Spear St., and for an additional $63 million, the company picked up a data-center facility next to Atlanta’s Hartsfield-Jackson Airport.
LaSalle Hotel Properties Buys Park Central Hotel
Six months after announcing plans to purchase the Park Central Hotel in Midtown Manhattan, LaSalle Hotel Properties has wrapped up the acquisition of the 934-room property in a transaction valued at $396.2 million.
Economy Watch: FOMC to Start Publishing Predictions
Going forward, the Fed plans to start publishing predictions of board members regarding interest rates. The value of U.S. construction projects edged up 1.2 percent in November. And Wall Street had an up day, as did the price of crude oil.
After a Good Year in 2011, Apartment Industry Expects Another One in '12
After a turnaround year in 2010, the multi-family sector had a banner 2011. This year looks to be another bright one for apartments, as both economic and demographic factors will combine to push rental rates even higher.
Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M
AG Net Lease Fund II, a vehicle of Angelo, Gordon & Co., has picked up a 192,053-square-foot office in the Los Angeles submarket of El Segundo for $45 million from Kilroy Realty Corp.