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Economy Watch: Pending Home Sales Spike
Pending home sales in the U.S. gained more in November than any other month since the tax credit of 2010. Initial jobless claims, while up slightly last week, are still trending downward. And Sears released its initial closure list of 79 stores.
The End of Big Box? Sears/Kmart Sites Face Mixed Futures
On the heels of Sears’ announcement that it will shutter between 100 and 120 stores, CRE industry experts wonder if locations larger than 100,000 square feet could be on the chopping block.
Economy Watch: Retail Sales See Christmas Boost
The unofficial numbers indicate that, on the whole, retailers did well this holiday. An AP survey of economists show that most think 2012 will be better than 2011, but only slightly. Yields on six-month Italian debt dropped to 3.2 percent.
Newmark Knight Frank to Lease, Manage 2 MSF NYC Office Portfolio
Newmark Knight Frank just added 2 million square feet of responsibilities to its plate. The real estate services firm has won a leasing and management assignment for a 19-property Manhattan office portfolio owned by The Rosen Group Inc.
421,900-SF Suburban D.C. Office Complex Trades for $125.7M
Centerpointe I & II, a Class A office property in Fairfax, Va., has come the ownership of Carr Properties Income Trust, courtesy of a transaction valued at $125.7 million, including $3 million of closing-cost credits for capital improvements.
Economy Watch: Home Prices Edge Down
In October, 19 out of 20 markets saw home prices decline. But despite the sluggish market, consumer confidence is on the rise. Sears Holdings, after a lackluster holiday season, will be closing approximately 120 stores.
PwC: Investor Interest in Offices, Apartments to Gain Steam Next Year
Investor interest in the office market will gain some steam in 2012, as per results of the PricewaterhouseCoopers’ Real Estate Investor Survey, and the apartment sector will continue to attract a great deal of attention — as well as development dollars.
M-M Properties Takes Dallas' 1.2 MSF Plaza of the Americas
In a deal reaching a reported $100 million, M-M Properties — partnering with an institutional client of Invesco Real Estate — has acquired Dallas’ 1.2 million-square-foot Plaza of the Americas.
Economy Watch: Retailers Push Hard Before the New Year
With Christmas over, retailers are pushing hard for year-end sales numbers. And new-home sales inched upward in November by 1.6 percent.
Chicago's 896 KSF 321 N. Clark Office Tower Certified LEED Gold
Hines has just achieved LEED Gold for Existing Buildings certification for its 896,500-square-foot office building at 321 North Clark at Riverfront Plaza in Chicago.