News
Economy Watch: Retail Sales Rebound in February; Another Home Price Metric Up
Retail and food services sales increased by 0.3 percent from the previous month, and 1.5 percent from the previous year. The overall housing market continues to strengthen as market fundamentals and credit conditions improve.
JLL: Are Companies Overlooking the ‘X Factor’ in M&As?
Merger and acquisition activity is predicted to increase in 2014 across several industries, specifically in financial services, life sciences, energy and technology. Yet several companies often overlook the “X factor” that could make or break the success of a deal, according to JLL.
Tucson Proposes to Become Home to Tesla’s 10-Million-Sq.-Ft. Lithium Battery Factory
The city of Tucson has made it public that luring electric car maker Tesla Motors’ $5 billion investment to the area among its top priorities for the couple of months. Besides accentuating Tucson’s tech presence in the Southwest, the investment would come with the benefit of creating 6,500 jobs in the area.
Del Webb Announces Its First Community in Albuquerque
Three years ago Del Webb was opening Alegria, its first active adult community in Bernalillo, adding it to its portfolio of over 50 communities spread across 20 states throughout the Southwest, coastal regions and Midwest. Now they’re planning their first community in the heart of Albuquerque.
Blackstone to Increase Tech Footprint with Purchase of Accuvant
Acting through a fund it manages on behalf of its private equity investors, Blackstone is expanding its presence in the technology sector with the purchase of a majority stake in Accuvant, a top information security solutions and services provider.
Behringer Harvard M-F REIT Builds Property in Atlanta
Behringer Harvard Multifamily REIT I has begun construction of Cyan on Peachtree, a 23-story, 329-unit luxury apartment development in the Buckhead office and entertainment district north of downtown Atlanta.
Economy Watch: Service Sector Sees Higher Revenues; Vegas Residential Market Still on the Mend
Most service-sector businesses gained revenue between the fourth quarter of 2012 and the fourth quarter of 2013. The total number of existing residential units sold in February in greater Las Vegas was 2,518, down from 2,565 in January and down from 3,232 a year ago.
City Committee Green Lights $81M MSA Apartment Tower Project in Indianapolis
Plans are moving forward for the $81 million, 28-story apartment high-rise Flaherty & Collins Properties intends to build on a portion of the former Market Square Arena (MSA) site in downtown Indianapolis.
C&W: Global Property Investment Volumes to Hit $1.3T in 2014
The global property investment market delivered $1.2 trillion of transactions in 2013, a 23 percent increase from 2012 and the highest total since 2007, according to Cushman & Wakefield’s latest International Investment Atlas report.
NGKF Opens New Office in Colorado Springs
The Colorado Springs market is going through recovery, and Newmark Grubb Knight Frank has prepared itself for the impending turnaround with the opening of a new office in the city.