News
Chariot Unveils $1B Revitalization Plan for Philadelphia
The local developer is eyeing a technology-centered business hub and a 1,050-unit residential community.
Economy Watch: Lukewarm Jobs Report; Uptick in Construction Spending
The unemployment rate dipped slightly to 7.2 percent as businesses added 148,000 new jobs.
Data Center Gallery
One of the most sophisticated property specialties, data centers are proliferating around the country. This slideshow illustrates the range of ground-up projects and adapted properties currently going up. For more about data centers, see “Power Surge” in the November 2013 issue of CPE.
Reingold Files Gender, Age Discrimination Lawsuit Against C&W
Suzy Reingold, New York Tri-State Chief Operating Officer with Cushman & Wakefield, is suing the global commercial real estate services firm for $20 million in damages.
CoreNet Special Report: Keys to Establishing Good Internal Partnerships for Corporate RE Execs
Speaking at the CoreNet Global North American Summit being held this week in Las Vegas, Mark Gorman of Ciena Corp. gave advice for corporate RE executives on establishing and maintaining relationships with other departments within a company.
Brookfield Multiplex Completes $137M Green Office Development in Melbourne
Global contractor Brookfield Multiplex just finished building 171 Collins St., the city’s first premium-grade commercial development in 20 years, for $137 million.
SunGard Appoints NGKF Global as CRE Advisor
NGKF will manage real estate transactions for all of SunGard AS’s facilities, including sales offices, operations centers and data center expansions in the United States and Canada, and will also provide global lease administration.
Economy Watch: Economy Created 148,000 Jobs in September; Existing Homes Sales Drop; NMHC: Apartment Market Weakens
The economy created a modest 148,000 jobs during September. Total existing-home sales declined 1.9 percent to an annualized rate of 5.29 million units in September from 5.39 million units in August. And The National Multi Housing Council reported that all four indexes of its October Survey of Apartment Market Conditions dipped below 50 for the first time since July 2009.
Rockland Trust Provides $20M for Renaissance Marriott Deal
Rockland Trust has provided $20 million in financing for The Procaccianti Group’s purchase of the Renaissance Marriott Downtown Hotel in Providence. The loan marks the third financing project the Procaccianti Group has completed with Rockland Trust.
IPA Arranges Sale of The Ridge at Bandera Apartment Community
The apartment community at the intersection of Loop 1604 and Bandera Highway, at 10950 Biering Lane, has changed owners. Institutional Property Advisors (IPA), a multifamily division of Marcus & Millichap, has overseen the transaction, without releasing any details.