News
Economy Watch: Office Absorption Posts Strong ’17
Vacancy declined in a variety of markets, and top metros posted significant gains in rental rates, Transwestern reports.
McGuireWoods Relocating NYC Office
The firm has signed a 15-year lease to occupy 41,900 square feet at 1251 Avenue of the Americas, a 54-story office tower Mitsui Fudosan America Inc. owns in Midtown Manhattan.
Tutor Perini Unveils $1.4B Newark Airport Project
In a joint venture with Parsons Transportation Group, the company will build a 1 million-square-foot terminal, marking the largest transportation infrastructure design-build contract in New Jersey history.
Retail Shows Surprising Resilience: IRR Report
Despite retailer bankruptcies and the onslaught of e-commerce, the retail real estate sector in most markets is in reasonably good shape, the analysis concludes.
Sports Venues Spark Revitalization
In a new report highlighting the impact of Nationals Park in Washington, D.C., RCLCO points to a trend in stadium-inspired community transformations.
Dairy Exporter Inks 64 KSF Miami Lease
The firm will occupy more than half of the Class A industrial asset, which features roughly 50,000 square feet of refrigerated storage.
Economy Watch: Is January’s Inflation a Hint of Things to Come?
By D.C. Stribling A single month’s data does not a trend make, but two reports on Wednesday by the Bureau of Labor Statistics evoked the specter of higher inflation, something that hasn’t vexed the U.S. economy much since the early 1980s. Should inflation pick up while wages stay stagnant or worse, the impact on consumer spending might be significant. The BLS first reported that the U.S. Consumer Price Index increased 0.5 percent in January. Moreover, price increases were broad-based, unlike upward blips in recent years based on volatile energy prices. There were price increases in gasoline, shelter, apparel, medical care,…
Morning Calm Acquires Baltimore Office Asset
TIER REIT Inc. sold the 280,000-square-foot building at 500 East Pratt St., which marks the buyer’s third acquisition in the metro in just over a year.
Hyatt Regency Bethesda Completes $37M Transformation
Gensler collaborated on the renovation, which brought upgrades to the hotel’s 390 guestrooms, lobby, facade, event and meeting spaces, as well as a new rooftop lounge.
Equity Office Secures New Tenant at Chicago Office Building
Gartner Inc. will be moving its Midwest operations to one of Equity’s River North Point’s assets in order to accommodate its business expansion.
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