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$500M Alexandria Center in Cambridge, Mass., Breaks Ground
Alexandria Real Estate Equities Inc. has just broken ground on the first phase of a $500 million, 1.7 million-square-foot science-and-technology compound in Cambridge, Mass., to be called Alexandria Center at Kendall Square.
Harrison Grabs 8 Seniors Properties for $125M
Harrison Real Estate Capital, on behalf of Harrison Street Real Estate Partners III L.P., has just completed an off-market transaction for an eight-property seniors-housing portfolio for approximately $125 million.
Economy Watch: Drunk on Risk, MF Global Falls on Face
It was something of a shock on Monday when MF Global Holdings went belly up. The OECD asserted that the euro-zone is going to grow slowly in the future. And the Chicago ISM saw 25 months of expansion amid a drop in the three-month moving average.
Liberty Kicks Off 1.2 MSF Industrial Project in Lehigh Valley
The $62 million project will provide new big-box industrial space to a thirsty market and reclaim a brownfield site that was once home to the Bethlehem Steel Corp.
Crowne Plaza Tampa East Purchased by Interstate Hotels
Interstate Hotels & Resorts has just announced its acquisition of the 265-room Crown Plaza Tampa East in a joint venture with Waramaug Hospitality L.L.C. and a private investment group.
Economy Watch: Consumers a Little More Optimistic, Little-Noticed Trucking Index Rises
A Reuters consumer-sentiment index saw an uptick in late October, but the BEA said U.S. consumers are earning more but saving less through September. And a little-noticed trucking index made year-over-year gains in August.
SL Green Markets, Sells NYC’s 292 Madison for $85M
It’s been a busy week for SL Green Realty Corp., which, in perhaps its biggest news, signed a deal to sell the leased fee interest at 292 Madison Ave. for $85 million.
MEPT Purchases Two D.C. Retail Centers for $127M
Purchased in two separate transactions, Multi-Employer Property Trust has grabbed two grocery-anchored properties, with an aggregate 524,000 square feet, for a combined price tag of $122.6 million.
Economy Watch: Tentative Euro-Zone Deal Struck, U.S. GDP Up
Euro-zone nabobs reached a tentative deal on Thursday to keep the area from imploding. The U.S. GDP grew 2.5 percent during the third quarter of 2011. And the home-sale index fell by 4.1 points.
Industrial Outlook Defies Gloom: Cushman & Wakefield Report
Defying the shaky economy, fundamentals in the industrial sector continue to inch upward, according to an analysis published Thursday by Cushman & Wakefield Inc.