News
Economy Watch: New Home Sales Jump in October; Beige Book: Moderate & Modest Growth, Again; ADP: Strong Employment Gains
New home sales spiked by 25.4 percent month over month in October. Economic growth was described as moderate and modest in the latest Federal Reserve Beige Book. And according to ADP, the private sector created a relatively strong 215,000 jobs.
Medical Development and Investment Growing Profile in San Francisco Bay Area
As 2013 draws to a close, developers and investors are scrambling to get their ventures going before the end of Q4, increased activity is seen in most sectors of the real estate market. The San Francisco Bay Area has seen an escalation in the health care sector with Meridian Property Co. announcing the development of four medical clinics in California, three of which are located near San Francisco. The three facilities are going to be built in Fairfield, Walnut Creek and Modesto, with the fourth one taking shape in Pomona, in the L.A. metro area.
Stirling Properties Expands Holdings in United Plaza Office Park
Stirling Properties has led a group of local investors in purchasing United Plaza VIII, a three-story Class A office building located in the United Plaza Office Park in Baton Rouge.
Zurich North America Reveals Team to Develop and Design New North American Headquarters in Schaumburg
By Gabriel Circiog, Associate Editor Zurich North America recently announced it has entered into agreements with Clayco, Goettsch Partners and CannonDesign for the development and design of their North American headquarters in Schaumburg. “We want our new, state-of-the-art campus in Schaumburg to be a source of pride for both the community and our employees,” says […]
RiverRock Real Estate Group Awarded 630,000 SF Portfolio to Manage; ARA Reports Sale of Elliot Apartments
West Coast-based commercial real estate management and leasing firm RiverRock Real Estate Group recently announced that the firm has been awarded the management of a 630,000-square-foot portfolio by AEW Capital Management. The portfolio features office and industrial spaces in Denver and surrounding communities.
Paramount Lodging Advisors Closes Sale of 118-Key Memphis Hotel
Paramount Lodging Advisors (PLA) completed the sale of the 118-key Drury Inn & Suites Northeast Memphis on behalf of DSW Inns, LLC, announced the hospitality industry-centric brokerage and advisory firm.
Skanska Scores $95M on Sale of Cambridge Life Sciences Building
One year after completing the approximately $70 million development of 150 Second St., a laboratory and office property in the bustling life sciences hub that is Cambridge, Mass., Skanska has sold the property to Alexandria Real Estate Equities for $95 million.
Al Futtaim Group to Open 2 MSF Cairo City Mall
Al Futtaim’s real estate development and operations division is set to develop Cairo Festival City Mall, Egypt’s first-ever indoor-outdoor shopping center.
Obama Administration Expands Better Buildings Challenge to M-F Housing
Nearly three years after President Obama launched the Better Buildings Challenge to help American commercial and industrial buildings become at least 20 percent more energy efficient by 2020, the administration has expanded the program to the multi-family sector.
Economy Watch: Home Price Increases Slowing Down; New Car Sales Robust in November; Restaurants Did Better in October
The increase in home prices nationally slowed down in October, rising only 0.2 percent compared with September. New light vehicle sales increased by 8.3 percent in November, compared to the previous month. And the Restaurant Performance Index rose to a four-month high in October.