News
Economy Watch: Home Prices Still Moving Downward
Home prices were down 3.8 percent for the previous 12 months in the country’s 20 largest markets. The Consumer Confidence Index fell slightly in March. And the JOBS Act passed the House, with similar approval expected from both the Senate and Obama.
BGC Completes Grubb Acquisition
In a saga that began nearly a month ago, BGC Partners is about to complete its purchase of Grubb & Ellis Co. after receiving approval from the U.S. Bankruptcy Court.
Wheeler to Run JLL's Lower Manhattan Office
Jones Lang LaSalle Inc. sees big prospects blossoming in Lower Manhattan, and the commercial real estate services firm has just assigned managing director John Wheeler, a longtime JLL employee with nearly three decades of experience, the task of spearheading the office’s increasing penetration of the submarket.
GrubHub Signs 60 KSF Chicago Office Lease
Looking to expand its space along with its increasing success, GrubHub has signed a lease for nearly 59,500 square feet of office space at Burnham Center, Harbor Group International’s historic 580,000-square-foot high-rise in downtown Chicago’s Central Loop submarket.
Madison Spends $123M for 57 Percent Share in Iconic Frankfurt Office Complex
Madison International Realty of New York, together with its German subsidiary Madison Real Estate, has signed a purchase agreement for Morgan Stanley P2 Value’s 56.95 percent interest in the Trianon complex in Frankfurt — for a reported $123 million.
Post Brothers Secures $52M Loan for Philly Multi-Family
Residential developer Post Brothers has obtained a $52 million loan for Post Rittenhouse Hill L.P. to complete the redevelopment of the Rittenhouse Hill multi-family property in the Germantown section of the city. The loan was funded by an undisclosed European bank.
Verus Partners Breaks Ground on 138 KSF Indiana Industrial Facility
On the heels of industrial development nationwide, Verus Partners is breaking ground on a 137,500-square-foot new manufacturing-and-distribution facility for Helmer Inc. that will be located across 10 acres in Noblesville, Ind.
Economy Watch: Bernanke Excites Markets
In a speech to the National Association for Business Economics, Ben Bernanke talked about economic growth, but didn’t specifically mention QE3. And the Chicago Fed reported an uptick in its three-month economic average for the period ending in February.
Auto Showroom, Brewery Project Planned for Southern Texas
By Camelia Bulea, Associate Editor HOLT CAT and Alamo Beer Co. both announced projects last week in Southern Texas. HOLT CAT broke ground on a 24,000-square-foot store in the Los Lomas Industrial Park in Laredo, according to the San Antonio Business Journal. The new facility will be certified LEED Gold for efficiency. The new store […]
Isle at Watermere Sells, Turtle Creek Village Listed
By Camelia Bulea, Associate Editor
The Isle of Watermere in Southlake – a 67-acre development – was recently sold to a Chicago-based real estate investment partnership, along with an adjacent three-acre site, for a total of $50 million, according to the Dallas Business Journal.
The property includes 66 assisted-living units and 26 memory-care units, opened in 2008, according […]