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Hyundai Capital Expands in SoCal
The firm has just moved into an additional 30,446 square feet of space at The Michelson, a 533,000-square-foot office tower in the city of Irvine.
Economy Watch: Home Sales, Japan’s Economy
New home sales inched upward by 11.1 percent in March compared with February, according to the U.S. Census Bureau and HUD. That’s an improvement, but then again February’s revised annualized rate of 270,000 units was the worst month rate since the government started tracking new home sales a half-century ago.
Phoenix Market Perks Up with 205,100-SF Lease
The Phoenix School of Law is expanding and relocating to The Tower at One North Central in the downtown market.
Economy Watch: Consumer Confidence, Wal-Mart Sales
Consumer confidence might have shown a small uptick during the last month according to some surveys, but ask consumers a different question–is the economy going in the right direction?–and a different answer emerges.
Panasonic to Move to Newark
The electronic products provider will occupy 250,000 square feet at the new tower at an initial estimated cost of $44 per square foot under a 15-year lease agreement.
Madison Gets 50 Percent Interest in Retail Center
Bridgeport Marketplace, a 126,769-square-foot, mixed-use asset, is located in the Southern California city of Valencia.
Economy Watch: Home Prices Down, Indicators Up
The Federal Housing Finance Agency said that its House Price Index dropped 1.6 percent from January to February, a sharper than expected contraction. Compared with February 2010, prices for homes financed with mortgages backed by Fannie Mae or Freddie Mac, which is what the FHFA tracks, were down 5.7 percent.
Savanna Investment Wields $1B of Buying Power
The firm just completed the final closing of its second real estate private equity fund, Savanna Real Estate Fund II L.P., with approximately $550 million of total equity commitments, marking a significant premium over the $400 million target.
HFF Secures Financing for SoCal Retail Center
The loan was procured for Oceangate Commerce Center, a 182,743-square-foot grocery-anchored property in Hawthorne, Calif.
Economy Watch: Home Sales, New Loan Rules
The National Association of Realtors reported that existing home sales were up unexpectedly in March on the heels of an unexpected rise in housing starts, which was reported by the U.S. Census Bureau. So the housing market still has a few surprises up its tattered sleeves.