News
Economy Watch: ADP Reports Strong Hiring
The ADP National Employment Report found that the U.S. private sector added a net of 209,000 positions in February. While economic problems in Spain have been at a simmer, indications show they may come to a boil. And retail sales in Europe dropped 0.1 percent from January to February.
Walmart Joins Oakwood Commons Lineup
By Adrian Maties, Associate Editor
On March 22, First Interstate Properties Ltd. announced the addition of a Walmart Supercenter to its proposed Oakwood Commons shopping center. In a press release, Walmart officials confirmed that when the new center is ready, they […]
Wood Partners, East West Partners Arrange $62M in Capital for Denver Multi-Family
The road has been paved for Wood Partners L.L.C. and East West Partners to commence construction of Alta City House, a luxury apartment project in Denver’s blossoming Union Station/Riverfront Park redevelopment, now that the developers have arranged capital from USAA Real Estate Company to move forward with the $62 million project.
Canadian REIT Acquires Westfield Business Park in Elgin
By Gabriel Circiog, Associate Editor Westfield Business Park, a 513,313-square-foot office complex located in Elgin, has been acquired by a newly formed Canadian real estate investment trust, Chicagorealestatedaily.com reports. In February, Commercial Property Executive reported on the intensified activities of Canadian REITs in the U.S. market after Vancouver, B.C.-based Onni Group agreed on a deal […]
Renaissance Arboretum Part of $263M Portfolio Bought by Inland
By Camelia Bulea, Associate Editor
The Renaissance Arboretum Hotel in Northwest Austin was recently bought by Inland American Lodging Group Inc. as part of a $262.5 million deal which consists of two other Marriott International Inc.-affiliated hotels in Georgia and Kentucky.
The […]
Cushman: Landlord's Market Approaches as Manhattan Office Vacancy Falls to 9%
Despite a lull in first-quarter leasing volume, Manhattan’s tightening office market is on track to give landlords the upper hand in the near future, according to projections released yesterday by Cushman & Wakefield Inc.
885 KSF UnitedHealthcare Center in Hartford Sells for $99M
CityPlace has closed on the sale of UnitedHealthcare Center in Downtown Hartford, Conn., for $99 million. Services firm Jones Lang LaSalle, which brokered the transaction, calls the property “the tallest building in Connecticut and the only office tower in Hartford greater than 30 floors.”
Clarion Picks up Seattle's 32-Story Qwest Plaza for $137M
CenturyLink has sold 1600 Seventh Ave., a 32-story, downtown Seattle office building, to Clarion Partners for $137 million. The telecommunications giant will continue to have offices in the 598,000-square-foot tower but retailer Nordstrom will be leasing most of the space.
Economy Watch: Not So Fast on That QE3
The FOMC dampened expectations of some kind of QE3 in the not-too-distant future. Mortgage delinquencies dropped 0.4 percent from January to February. And the U.S. Department of Commerce saw a 1.3 percent increase in new-equipment purchases in February.
DivcoWest Grabs 170 KSF Class A Building in San Francisco
DivcoWest continues its office property-shopping spree, picking up the 170,200-square-foot building at 701 Gateway Blvd. in South San Francisco. The real estate investment and management firm purchased the Class A property from Broadway Partners.