News
Monmouth Acquires $16.2M Industrial Facility; Mall of Memphis Site Goes Industrial
By Eliza Theiss, Associate Editor Freehold, N.J.-based Monmouth Real Estate Investment Corp. has purchased a 234,660-square-foot industrial facility in Olive Branch’s Metro Industrial Park for $16.2 million, reports the Memphis Business Journal. The Class A, built-to-suit facility located at 8644 Polk Lane is near another building owned by Monmouth that is currently under a 10-year […]
Conrad New York Hotel Opens in Lower Manhattan, Seeks LEED Gold Certification
By Veronica Grecu, Associate Editor
Conrad Hotels & Resorts, the global premium brand of Hilton Worldwide, has opened its first New York City hotel—a 16-story all-suite luxury facility located at 102 North End Avenue—in Lower Manhattan’s Battery Park neighborhood.
Designed by architects […]
Glimcher Plans to Acquire Blackstone's Interest in 1 MSF Hawaii Retail Center
In a transaction valued at approximately $289.4 million, Glimcher is looking to acquire the 80 percent indirect interest in Pearlridge Center, a 1 million-square-foot shopping mall in the community of Aiea, in metropolitan Honolulu.
JLL: Select-Service Hotels to Double Investment Volume in '12
Jones Lang LaSalle sees a continued flow of capital into the hospitality sector during 2012, but specifically sees increased investor interest in the select-service arena. Sales of those portfolios are expected to double their 2011 levels this year.
Cushman Names New CEO of EMEA
A year after being named chairman of the board of Cushman & Wakefield Inc., Carlo Barel di Sant’Albano is gearing up to take on another challenge for the world’s largest privately held commercial real estate services firm as he becomes CEO of the firm’s operations in Europe, the Middle East and Africa.
Economy Watch: Jobless Claims Down, Leading Indicators Up
During the week ending March 17, initial unemployment claims were 348,000, a decrease of 5,000 from the previous week. Home prices dropped more than 5 percent in the 12-month period ending January 19. And Wall Street ended on a down note for the day — with one exception.
Regency Centers Begins Construction on 109 KSF Retail Property Near L.A.
Marking its second California development project of the year, Regency Centers has commenced construction on South Bay Village, a 109,300-square-foot neighborhood shopping center in Torrance, 19 miles outside of downtown Los Angeles. The retail property developer will invest $30 million in the project.
Minshall Stewart Spends $62M on 10-Story D.C. Office Building
Five years after trading for $66 million, the Class A office building at 2001 L St., N.W., in Washington, D.C., has sold for nearly $62 million to Minshall Stewart Properties.
Goodrich Inks 105 KSF Office Lease in California
Aerospace company Goodrich Corp. has signed a 104,662-square-foot lease at the Brea Imperial Center in Brea, Calif., bringing the facility to 100 percent occupancy.
Transwestern Goes Global, Partners with BNP Paribas
With the strategic alliance of Houston-based Transwestern and Paris-based BNP Paribas Real Estate, the two firms have positioned themselves to focus on occupier clients and enhanced services to the firms’ customers in Europe, the Middle East, Africa, India and the United States.