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Economy Watch: Blizzard Puts Crimp in Retail Sales
ShopperTrak, which followed U.S. retail sales, said that the recent East Coast blizzard kept about $1 billion at home with consumers, rather than out being spent at shops on Dec. 26 and Dec. 27. That’s assuming a 10 percent impact on sales for the two days, which ShopperTrak estimates at about $10 billion.
Myriant to Build at Louisiana Port
Myriant Technologies’ new $80 million, 392,000-square-foot sustainable chemical manufacturing facility at the Port of Lake Providence will be the largest bio-based succinic acid refinery in the world.
Meridian Nails Down $200M in Financing for NYC Tower
After being lost by high-profile real estate investor Harry Macklowe in a foreclosure auction, 1330 Avenue of the Americas is being refinanced by its new owner.
Economy Watch: Housing Prices Take It on the Chin
The S&P/Case-Shiller Home Price Indices trended toward negative territory in October, while the 10-City Composite Index posted a meager 0.2 percent growth rate compared with the same month last year.
Parkway Properties Plans Atlanta Office Purchase
The office and retail portion of the Sovereign, an upscale mixed-use high-rise in Atlanta’s tony Buckhead area, is about to be snapped up for $167.3 million.
SL Green Wraps Up $390.8M Purchase of Gramercy Assets
The company did not have to shell out cash for the entire purchase, which accounts for an aggregate 1.2 million square feet of premier space, as the deal included the assumption of $265.6 million in debt.
Will Triple Five Be the Charm for Xanadu?
If Triple Five can transform New Jersey’s stalled $2 billion project from a costly white elephant into a thriving retail and destination center, the Canadian firm will pull off a feat that eluded two previous developers.
First Wind Receives $76M in Financing
Construction of Vermont’s largest wind energy project began in September. Since the end of that month, First Wind has raised $435 million in financing and repaid $149 million in short-term turbine supply loans.
Economy Watch: Happy Holidays for U.S. Retailers
MasterCard Advisors’ SpendingPulse said that U.S. retail sales through all channels spiked 5.5 percent this holiday season compared with last year’s, making it the best holiday season for retailers in five years.
AMB Closes $422M Brazil Fund
The fund aims to develop, acquire, own, operate, manage and dispose of logistics properties within Sao Paulo and Rio de Janeiro.