International
1.5 MSF Shanghai Office Trades for $500M
Investors with cash on hand are snapping up premier properties in Shanghai, and SOHO China Ltd.’s purchase of the 1.5 million-square-foot Shanghai New World Changning Commercial Center is among the latest transactions.
Cree GmbH to Build First Unencapsulated Energy-Efficient, Timber-Hybrid Building
The first unencapsulated eight-story timber building will rise in Dornbirn, Austria, as Cree GmbH announces the groundbreaking ceremony for the world’s first LifeCycle Tower, LCT ONE, in September 2011.
Tishman Speyer Lands 400 MSF Government-Office Tenant in Landmark Paris Deal
Tishman Speyer has just made a huge splash in the Paris office market with the closing of the biggest lease transaction in the City of Lights.
IHOP Expands to Middle East
The restaurant chain has inked a multi-restaurant franchise agreement for the development of 40 new locations in Kuwait, Saudi Arabia, Jordan, Lebanon, Qatar, the United Arab Emirates, Oman, Bahrain and Egypt.
W Hotels Makes Russia Debut
Owned by Real Estate Development Ltd., the W St. Petersburg hotel offers 137 guest rooms, bar and rooftop lounge. It was designed by Antonio Citterio and Patricia Viel Partners.
Economic Recovery? Still a Ways Away, Roubini Warns
Is the economy recovering? Maybe. But Nouriel Roubini thinks we still have a ways to go.
Target Expands Canadian Reach
The firm has selected an initial group of sites now occupied by discount retailer Zellers Inc. In January, Zellers sold more than 200 leases to Target for approximately $1.9 billion.
Economy Watch: Greece Bailouts, Pending Home Sales
It was a long holiday weekend in the United States, but across the Atlantic, Euro-bureaucrats and -bankers were at work trying to keep Greece from defaulting on its debts and thus doing some kind of unpredictable harm to the euro.
Disney, Subway Expanding
Retail hasn’t exactly fully rebounded, but proving industry chatter correct, some chains have formally announced major expansion programs. Disney Store and Subway sandwich shops, riding the wave of a successful 2010, have made such commitments.
Simon to Open First Premium Outlet Center in Canada
Simon Property Group Inc.’s Premium Outlets division is in growth mode, and the company has Canada in its sights. A letter of intent with Calloway Real Estate Investment Trust to develop a property in suburban Toronto paves the way for entrée into Canada.