News
JLL: Rents Expected to Keep Rising at U.S. Skyscrapers
Rents are rising and vacancy rates are falling at America’s trophy skyscrapers, spurred by aggressive investors, tightening supplies and the growing technology, energy and healthcare sectors.
SCA Signs Lease with Hines for 73 KSF of Office Space in Paris
International manufacturer SCA signed a nine-year lease with Hines European Core Fund (HECF) to occupy 73,000 square feet across three floors at the Eurosquare building in the Saint-Ouen business district in Paris.
Economy Watch: Job Openings Remain Stable; Federal Deficit Continues to Shrink
There were 4 million job openings on the last business day of January, little changed from December. The federal budget deficit went down by $115 billion compared to last year.
Property Asset Management Affiliates Purchase Property, Files Loan in Memphis Market
Collier Village Apartments, a 100-unit Class C multifamily property in Collierville has sold for $4.4 million
Economy Watch Weekly: Jobs Numbers Picked up in February, but Still Not Stellar
CPE’s economic analyst, Dees Stribling, gives his update for the week ending March 7.
Starwood’s Big Plans for Sheraton in 2014
Starwood Hotels & Resorts Worldwide expects the next 12 months to reach record growth for its Sheraton Hotels brand, with 35 new hotels expected to open in emerging markets.
Meridian Capital Arranges $142M for Acquisition of Brooklyn Office Property
Meridian Capital Group arranged a $142 million mortgage for the purchase of an office property in Brooklyn’s Fort Greene neighborhood on behalf of RXR Realty and American Landmark Properties.
Economy Watch: FRBNY Chief Less Than Sanguine About Unemployment; White House Predicts Stronger Growth in ’14
Federal Reserve Bank of New York chief Bill Dudley said that the “decline of the unemployment rate significantly overstates the degree of improvement in the labor market.” The White House released its forecast for U.S. economic growth in 2014, predicting better growth than during last year, and an even better year in 2015.
New Development Breaks Ground in Historic Leon Springs
Three firms have joined forces to keep a promise to “do something special” between Leon Creek and historic Leon Springs, fronting Interstate Highway 10. San Antonio-based Embrey Partners, New York City-based Case Pomeroy Properties, and San Antonio-based Leon Creek, Ltd. have broken ground on a 15-acre, 320-unit, multi-family community as part of a larger, mixed-use development.
Starwood Announces Addition of Aloft Brand in CBD Adaptive-Reuse Project
Starwood Hotels & Resorts Worldwide, Inc. has announced it will be opening a 188-key Aloft hotel in the New Orleans Central Business District, converting a historic office building.
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