Featured
Jones Lang LaSalle Tapped to Lease Midtown Office Building
There are a few holes in the tenant roster, but JLL plans to fill in the gaps at the premier 301,000-square-foot office building.
Economy Watch: Starts Up, Unemployment Down
Housing starts experienced an unexpected uptick in March, according to the U.S. Census Bureau. The annualized rate for home starts during March was 549,000, an increase of 7.2 percent from February, when starts were at a record low. The bureau revised February’s total starts upward to 512,000 from 479,000, but that was still the lowest rate since April 2009.
TRECAP, Fairfield Buy $26M Apartment Asset
The joint venture partners acquired River Pointe at Den Rock Park Apartments, a 174-unit apartment community in Lawrence, Mass., approximately 25 miles north of Boston, from Equity Residential.
New Boston Fund Acquires Trio of N.C. Buildings
The properties — one Harris Corners, Two Harris Corners and Three Harris Corners — total 361,144 square feet.
HFF Arranges $61M Refi for NorCal Retail Center
The 10-year fixed loan was procured for El Paseo de Saratoga, a 295,979-square-foot retail center in San Jose.
Economy Watch: S&P, Homebuilders Negative
Standard & Poor’s had a little surprise in store for the global economy when the rating agency said that its outlook on the United States — as in the debt of the United States — was changing from “stable” to “negative.”
Economy Watch: Budget Wars Begin, Consumers Feeling Better
The House of Representatives voted for a symbolic federal budget on Friday afternoon, one which purports to cut the deficit by $6 trillion or so over the next decade and upend Medicare and Medicaid, previously considered (with Social Security) the third-rail of federal spending.
Kidder Matthews Gets 3.8 MSF Assignment
The King County portfolio that is now in Kidder Mathews’ care includes Northwest Corporate Park-Kent, which, with offerings totaling 2.7 million square feet, holds the distinction of being the largest industrial park in the Kent Valley submarket. Kent North Corporate Park is also part of the package, and features approximately 1 million square feet of Class A distribution and warehouse accommodations.
Record Broken
Totaling approximately 827,300 square feet, the trophy buildings at 70 and 90 Hudson St. in Jersey City, N.J., fetched $310 million in Hartz Mountain Industries’ sale of the assets to CB Richard Ellis Realty Trust.
General Growth Refinances Seven Malls to the Tune of $1.7B
The move is in accord with the REIT’s post-bankruptcy goal of reducing outstanding debt.