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Economy Watch: U.S. Consumers Went Shopping in July, but Not for Homes
In July, U.S. consumers dipped into their savings to do what U.S. consumers are famous for: Buying things — material goods, that is, not houses. Wall Street responded to Hurricane Irene by advancing the indices.
Weeks Robinson Grabs 600 KSF Suburban Baltimore Warehouse, Land for $19.1M
Weeks Robinson continues to capitalize on the distressed real estate marketplace with the acquisition of Trade Center 95, an industrial asset consisting of a vacant 600,000-square-foot warehouse and 32 acres of developable land, for $19.1 million.
HFF Orchestrates $44M for MF Projects in Raleigh, NYC Suburbs
The lending community’s interest in financing development projects is evident, and HFF has just orchestrated $44 million in financing for multi-family projects in Raleigh, N.C., and the suburbs of New York City.
Hertz Gets $42M Loan in Downtown Cincinnati
Hertz Investment Group took a $42 million loan on The Center at 600 Vine, a 625,765-square-foot, Class A office building in Cincinnati, from U.S. Bank.
Economy Watch: Bernanke Tiptoes, U.S. GDP Poised for Growth
In his central-banker way, Ben Bernanke managed to calm Wall Street for a while on Friday while not managing to be too specific. According to the BEA, the economy grew at 1 percent quarter-over-quarter. And while Wall Street dropped at first, by the end of the day indexes headed up.
CBRE Investors Nabs 242 KSF Class A Houston Office
CB Richard Ellis Investors acquired the approximately 242,400 square-foot property, at 2603 Augusta Dr. in Houston’s popular Galleria submarket, from Behringer Harvard Opportunity REIT I Inc.
Chesapeake Lodging to Buy 613-Room Denver Marriott for $119M
Chesapeake Lodging Trust’s shopping fever continues as the REIT enters into an agreement to acquire the Denver Marriott City Center, the 613-room upper-upscale hotel in the mixed-use City Center tower in downtown Denver.
East Coast Braces for a Hurricane Hit
The week started with an earthquake and it’s ending with a hurricane, as Irene nears the East Coast in what could potentially be the strongest storm in the last two decades.
Economy Watch: Foreclosures Still One-Third of Residential Sales
The sale of houses in some stage of foreclosure accounted for 31 percent of all residential sales during 2Q11. The Obama administration is mulling plans to help the housing market. And despite Warren Buffett’s $5 billion investment, the Dow was still down yesterday.
Cole Purchases $102M PetSmart HQ in Phoenix
The Phoenix office market continues its march back to recovery, this time led by the $102.5 million purchase of the PetSmart corporate headquarters by Cole Real Estate Investments.