News
The Return of Spec: Myers Crow & Saviers Begins 135 KSF Office Project in Houston’s Energy Corridor
With nary a tenant commitment on the table, Myers Crow & Saviers Ltd. prepares to kick off construction of Mason Creek Office Center, a 135,000-square-foot building in Houston’s Energy Corridor in Katy, Tex. Ground is scheduled to break on the speculative project in the third quarter.
JLL: U.S. Hotel Transaction Volume Reaches $5.1B So Far in 2012
Jones Lang LaSalle’s hotels group has found that 2012 is shaping up to be a good year for the U.S. hospitality sector, with $5.1 billion of transaction volume moving so far this year — the second-highest volume in the past four years.
MB Real Estate Inks Leasing Deal for More Than 4 MSF of Chicago Office Space
Chicago-based MB Real Estate has landed five new office-leasing contracts in its hometown, adding more than 4 million square feet of space to the company’s portfolio.
Kilroy Makes $145M Move on Two Seattle Office Properties, Preps for $186M More
Kilroy Realty Corp. continues expanding up the West Coast, adding two Seattle-area office properties for $145 million and getting ready to close on the 24-story Skyline Tower in downtown Bellevue, Wash., for $186 million.
Economy Watch: CoreLogic Says Home Prices Inching Up; Spain Loses Access to Capital Markets
U.S. home prices, including distressed sales, increased by 1.1 percent on a year-over-year basis in April. The non-manufacturing index rose slightly in May from April, remaining in positive, expanding territory. And Spain’s budget minister reported that the country has lost access to capital markets because the costs of borrowing are too high.
NGKF Appoints Two Senior Managing Directors
Global brokerage company BGC Partners Inc. continues to build up its BGC Real Estate Capital Markets division with the recent appointment of two senior managing directors, Garett Stoffels and Jonathan Falik, who are joining Newmark Grubb Knight Frank.
CommonWealth Buys Trophy D.C. Building from Shorenstein for $198M
Hamilton Square, a former department store repurposed into an office building situated only a block from the White House, has been purchased by CommonWealth Partners from Shorenstein Properties for $198 million.
Fountain Residential Breaks Ground on Luxury Student Housing at University of North Texas
Work has gotten underway on 33 North, a premier 427-bed student housing community just a stone’s throw from the University of North Texas in Denton. Fountain Residential Partners, in conjunction with Crosswind Development Partners, is behind the project.
Invesco Spends $141M on NYC’s 130 Prince St.
Waterman Interests has turned a nearly $30 million profit on its asset at 130 Prince St. in New York City, selling the building for $140.5 million to Invesco after purchasing the property in 2007 for $112 million.
Economy Watch: A Long, Hot Summer for the Euro Zone; Gas Prices Continue to Slide
On Wednesday, the European Central Bank’s governing body is going to meet to consider a rate cut from the current 1 percent – and Greek and U.K. changes will happen in the upcoming months. The Employment Trends Index showed some growth in May. And the rocky road to recovery at least comes with a silver lining in lower gas prices.