News
I.CON Special Report: Robust Industrial Market Ahead for Much of North America
The North American industrial sector offers much to cheer and a few reasons for caution, said experts at NAIOP’s international conference in Jersey City, N.J. on Thursday.
Hospitality Ventures Adds 42nd Hotel to Portfolio, Enters Multiple Strategic Partnerships
Hospitality Ventures Management Group has enhanced its portfolio with the addition of three hotels, and it’s laid the groundwork for future growth with two new strategic partnerships.
Marcus & Millichap Sells 8-Property Self-Storage Portfolio for $91M
An eight-property portfolio of Best Florida Storage locations in Broward County, Fla., totaling 854,800 rentable square feet has sold for $91 million, or $106 per square foot.
Economy Watch: S&P Affirms U.S. Rating, Mulls Raising It; Economic Worries a Drag on Housing
Standard & Poor’s affirmed its current AA+/A-1+ rating for the U.S. sovereign debt, noting that the outlook for such debt is now “stable.” Americans’ reluctance to enter the market for buying or selling residential property has restrained activity below typical seasonal trends.
Keystone, Mack-Cali JV Buys Curtis Center in Philadelphia for $125M
In a joint venture, affiliates of Keystone Property Group and Mack-Cali Realty Corp. have bought Curtis Center, a Class A office and retail property nearby Independence Hall and Washington Square Park in Center City of Philadelphia.
New York City Spotlight: Sales Slowdown
By Georgiana Mihaila 2014 kicked off with a rather sluggish sales pace for the commercial real estate sector, with sales dropping by more than half compared to the first quarter of 2013. The overall sales volume for the first quarter accounted for slightly over $6.6 billion, com- pared to an impressive $16 billion recorded within the same timeframe last year. While the numbers might seem gloomy, the slowdown can be partially credited to a limited number of transactions over $50 million. In the first quarter of 2013, there were 62 high-profile transactions above $50 million, whereas in the first quarter…
Numbers Game
(employed and unemployed persons by occupation; not seasonally adjusted; numbers in thousands)