News
Marcus & Millichap Files for IPO
Citing improvement in the commercial real estate industry, Marcus & Millichap has filed plans for an initial public offering as much as $103.5 million with the U.S. Securities and Exchange Commission.
Economy Watch Weekly: Fed Says No Tapering for Now
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Sept. 20.
One WTC Launches Build-to-Suit Leasing Program
The Durst Organization, co-developer of One WTC along with the Port Authority of New York and New Jersey, recently launched its pre-build/build-to-suit program, earmarking a total of 94,000 square feet for units ranging in size from 2,000 to 20,000 square feet to accommodate as many as 18 tenants.
Inland Buys 2 Andaz Hotels in California, Georgia for $115M
Inland American Lodging Group has acquired two Andaz hotels from Hyatt Hotels Corp. for $115 million. A Hyatt affiliate will continue to manage both properties.
Jackson Walker Leases 104 KSF at KPMG Plaza in Dallas Arts District
CBRE has been keeping busy this week in Dallas, announcing its role in the completion of a 104,064-square-foot lease on behalf of Jackson Walker in the future Hall Arts office building, in the heart of the Dallas Arts District; and in a separate deal, it arranged the sale of 100 East Royal, a Class A office asset in Irving.
Economy Watch: NY Fed President Talks Tapering; LPS: Home Prices Still Rising
The NY Fed president addressed the postponement of tapering question yesterday, stating that there is still not enough evidence that the economy is headed for complete success. And according to Lender Processing Services, home prices nationwide were up 0.6 percent month over month in July.
Kilroy Buys 220 KSF Office Campus in San Diego Suburb for $126M
The Heights at Del Mar, a 219,000-square-foot office and life science campus in the coveted Del Mar Heights submarket of San Diego, is now part of Kilroy Realty Corp.’s portfolio. The REIT acquired the premier two-building, 15-acre asset from Prudential for $126 million.
Cassidy Turley Incorporates Western Region Affiliates into Firm
Following a trajectory it set for itself three years ago when the firm first launched, Cassidy Turley has merged its former affiliates in Arizona, Colorado, Northern California and San Diego into the firm, and all are now fully owned by the commercial real estate service provider.
V&A Waterfront Gives South Africa’s Oldest Port a ‘Green’ Facelift
The rejuvenation of Cape Town’s Victoria and Alfred Waterfront, South Africa’s oldest working port reached a poignant milestone with the completion of the project’s first phase, the No.1 Silo.
Economy Watch: State Unemployment Rates Stuck in Neutral; RE Billionaires Well Represented on Forbes List
Employment didn’t make much of a move along the States in August. And Forbes published the latest version of its Forbes 400 list, tracking the 400 wealthiest Americans, which included seven real estate moguls on the list, including Donald Trump.
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