News
Rezidor to Open Park Inn by Radisson Astana in Kazakhstan
The Rezidor Hotel Group, a member of the Carlson Rezidor Hotel Group, has announced plans to open the Park Inn by Radisson Astana in Kazakhstan.
C&W Sells Premier Savannah Shopping Center on Auction.com
Cushman & Wakefield’s Retail Investment Advisors, along with Auction.com, have facilitated the sale of Abercorn Common, a 185,244-square-foot community shopping center in Savannah, Ga.
Economy Watch: Case-Shiller Indexes Up Again; Sandy’s Costs Already Estimated; Wall St. Reopens
The S&P/Case-Shiller indexes, which were released on Tuesday, showed continued upward movement in U.S. home prices. Sandy is still vexing parts of the Northeast with wind and rain, but it’s already time for preliminary damage estimates. Wall Street remained closed for a second day on Tuesday, but opened once again today.
JLL Secures 811 KSF Office Lease for ExxonMobil Subsidiary in Calgary
Imperial Oil, one of Calgary’s largest corporations and an ExxonMobil subsidiary, is moving its headquarters from downtown Calgary to a 20-acre site that will be developed in the Quarry Park submarket in the Canadian city’s southeast section.
Two Connecticut M-F Properties Reel in $96M in Financing
LCOR has secured $96 million in financing for Greenwich Place and Greenwich Oaks two apartment communities offering an aggregate 396 units in Greenwich, Conn.
Cruzan|Monroe Nabs DiamondView Tower in San Diego for $121M
San Diego-based commercial real estate investor and developer Cruzan|Monroe, along with Cigna Investments Inc., have acquired DiamondView Tower, a 15-story 305,255-square-foot Class A office tower in San Diego for $121 million.
CBRE Acquires 369 KSF of Dallas-Area Buildings
Everything’s bigger in the Lone Star State, and so goes a recent transaction between Equity Office Properties Trust and a CBRE Global Investors Fund, which bought two Class A office buildings in North Dallas totaling 369,000 square feet for an undisclosed amount.
Economy Watch: Income, Spending Rise in September; Americans Feeling Better Financially; Sandy Overpowers Wall St.
Despite the inclement weather along the eastern seaboard, the Bureau of Economic Analysis published new statistics on personal income and spending on Monday, and they were better than expected. According to Gallup on Monday, 38 percent of Americans now feel better off financially than they were a year ago. It’s too soon to know the scale of the economic impact of Hurricane Sandy, but one thing is certain: it shut trading down on Wall Street on Monday, and will do so again on Tuesday.
Enders Place at Baldwin Park Trades Hands
A joint venture between affiliates of Manhattan-based Bluerock Enhanced Multifamily Trust, Inc. and Waypoint Residential has recently acquired Enders Place at Baldwin Park for an undisclosed amount.
Archstone Acquires Silicon Beach Residential Property Formerly Known as The Frank
The Frank, a Venice, CA multifamily property, was the subject of a recent deal resulting from an Archstone-sponsored partnership. The company is currently on a shopping spree that includes the acquisition of a 205-unit apartment community in Marina del Rey, as well as a 237-unit Washington D.C. residential property. Archstone paid $56.2 million for the property, and has also decided to rename the asset Archstone Venice on Rose.