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Commerzbank Takes 173,000 SF in NYC
The firm leased space at Two World Financial Center in Lower Manhattan, which is owned by Brookfield Office Properties.
Westin Poised for Houston Debut
The 570,000-square-foot property features 267 guest rooms, including 25 suites, and 30,000 square feet of meeting and banquet space.
Hudson Pacific Inks 67,000 SF in Leases
Educational program firm Intrax signed a new long-term lease at San Francisco’s One Rincon Center, while Kimpton Hotels & Restaurants renewed and expanded its previous lease at the city’s 222 Kearny St.
Economy Watch: Shiller, Buffett Opine
MacroMarkets L.L.C., the outfit run by Robert Shiller of Case-Shiller fame, said that the the results of its March 2011 Home Price Expectations Survey were pessimistic indeed for 2011.
Fitch: Special Servicing for CMBS Loans on Downswing
As of mid-March, approximately 200 loans have transferred this year, marking a dramatic descent from the 631 loans in the first quarter of 2010.
Phoenix, Orbach Acquire NYC Multi-Family Portfolio
The 253 pre-war apartments were 99 percent occupied as of the investment’s closing. They have been owned and operated by Orbach since 2008 and present a mix of market-rate and rent-stabilized units.
AMB: Only Moderate Damage in Japan
In contrast to its previous estimate of $10 million in damage to its 10.6 million square feet of properties in Japan, the company now estimates damage between $4 million and $6 million.
Economy Watch: Home Sales Drop, MBS Holdings Unloaded, National Activity Index Down
Existing home sales dropped 9.6 percent in February compared with January, according to the National Association of Realtors. The annualized rate fell from 5.4 million units to 5.02 million units month-over-month. The decline came on the heels of three months’ gains in existing home sales.
ICG, JBG Strike $101.5M D.C. Deal
ICG Properties first sold the 280,000-square-foot Georgetown Center to JBG Cos. The two companies then struck a partnership deal on ownership of 1601 K St.
Economy Watch: Quake Estimates Afoot, GSE Plan Proposed, Yen Dives
The economic impact of the disaster in Japan is still as unclear as exactly what’s going on at Fukushima Daiichi now, but that isn’t keeping economists from making estimates, or taking a stab at estimates, of the total cost.