News
Economy Watch Weekly: Employment, Construction Spending Still Strong
Payroll employment has increased significantly to 223,000 jobs, whereas construction spending increased 1.8 percent than the previous month. Economy Editor Dees Stribling gives a breakdown of these two topics, for the week ending June 1, 2018.
Economy Watch: Business Economists Expect Slowdown
The next recession will likely occur sometime between the fourth quarter of 2019 and the second quarter of 2020, according to the latest NABE survey.
AY Closes $8M Sale of WPB Office Asset
Carrier Corp. is the only tenant of the 37,392-square-foot The Atrium. The asset changed hands within 45 days of hitting the market.
AEW Sells NJ Retail Center for $42M
ShopRite is Wall Towne Center’s largest tenant, making the roughly 100,000-square-foot property the only grocery-anchored retail center along Route 34.
Skanska Invests $41M in Poland Office Campus Expansion
The High5ive complex will be the largest office development in the city of Krakow, totaling around 753,000 leasable square feet across five buildings.
Retail Properties of America Sells Last Office Asset
Schaumburg Towers in Schaumburg, Ill. comprises 895,400 square feet across 20 floors and sold for $86.6 million, a $51.4 million difference since the company purchased the campus in 2004.
Meridian Arranges $240M Loan for NYC Office Tower
The Hakimian Organization will utilize the proceeds to refinance 636 11th Ave., a 560,000-square-foot property fully leased to advertising and public relations firm Ogilvy & Mather.
Charles Schwab Opens 50-Acre Campus, Expansion to Follow
San Francisco-based Charles Schwab opened its new 469,000-square-foot campus in Austin, Texas, as it aims to expand its presence in the state.
Vornado to Exit Troubled Kushner Building in NYC
Kushner Cos. will buy out Vornado Realty Trust’s nearly one-half interest in the 666 Fifth Ave. office condominium, as a sale of a similar stake to another mega-investor reportedly is pending.
Cawley Chicago Expands Executive Team
Zach Pruitt and Nicholas Schaefer were appointed as principal and vice president, joining three other former colleagues from their previous workplace, NelsonHill.