News
ASA Leases 160 KSF at JEMB’s Herald Center in NYC
JEMB Realty has signed existing tenant ASA College to a lease extension and expansion that will see the higher-education institution more than double its space at JEMB’s Herald Center, a 10-story, 250,000-square-foot retail and office property at the southwest corner of 34th Street and Broadway.
CBRE Global Investors Fund Buys Hotel in San Jose
CBRE Strategic Partners U.S. Value 6 fund is making its first hotel acquisition with the purchase of the San Jose Marriott, a 506-room, full-service hotel attached to the San Jose Convention Center.
Economy Watch: Federal Deficit, Consumer Debt Shrink; Small Biz Owners More Optimistic
The federal budget deficit is projected to shrink in fiscal 2013 to $642 billion, the smallest shortfall since 2008. Outstanding household debt also dropped by about $110 billion from the previous quarter. And according to the National Federation of Independent Business, its Index of Small Business Optimism was up in April by 2.6 points to 92.1, which is just above the recovery average of 90.7.
Joint Venture Holds Feng Shui Groundbreaking Ceremony for Sunset District Development
A new residential community is set to debut later this year in San Francisco after a joint venture recently held a groundbreaking for its new housing development located in the Lake Merced area. The joint venture, consisting of Maracor Development and Comstock Homes, is constructing a suburban-style residential project known as Summit 800 in a submarket that hasn’t seen new housing for quite some time. The development will cater to homebuyers interested in new projects in the San Francisco Bay Area.
Regency Centers Corporation Breaks Ground on $50M First Phase of Shops on Main
Regency Centers Corporation has broken ground on the first phase of Shops on Main, a 147,851-square-foot community shopping center in Schererville, Ind.
Gaylord Aurora 1,500-Room Hotel Project Finds Developer
The Gaylord Aurora convention hotel project, which was abandoned by the company that proposed it, has a new lease on life. Aurora officials told the Colorado Economic Development Commission that New York-based Area Property Partners will arrange financing for the $824 million project and Houston-based Rida Development Corp. will develop the hotel.
Roxul Breaks Ground on $160M Manufacturing Facility
Milton, Canada-headquartered Roxul, Inc. has officially broken ground on its first United States manufacturing facility.
Economy Watch Weekly: Some Good Weekly News Without Too Much News
CPE’s economic analyst, Dees Stribling, gives his update for the week ending May 10.
HFF Secures $75M Financing for Realogy’s HQ in Madison, NJ
The Hampshire Cos., owner of the newly redeveloped office building at 175 Park Ave. in Madison, N.J., has obtained financing to the tune of $75 million for the fully leased, 270,000-square-foot property.
Tech Co. Buys 760 KSF Office Campus from Harvard
Athenahealth has acquired the historic 11-building, 760,000-square-foot Arsenal on the Charles office campus in Watertown, Mass., from Harvard University for $169 million.
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