News
NKF Nabs Contract to Lease Boston's Faneuil Hall
Ashkenazy Acquisition Corp., the manager of Boston’s Faneuil Hall Marketplace, has awarded Newmark Knight Frank the contract for office-positioning and leasing responsibilities for the city landmark.
Economy Watch: EU Recession Spooks Investors
The EU reported on Tuesday that the euro zone is in a “mild recession.” U.S. residential foreclosure sales were up sharply in January, some 29 percent more than in December. And Green Street Advisors’ Commercial Property Price Index didn’t budge in February.
North American Investor Optimism Leads the Way at MIPIM 2012 Despite Uncertainties
Senior industry leaders gathered at the exclusive pre-MIPIM 2012 event hosted by CREOpoint CEO J.C. Goldenstein to share both their expectations for the week and their sentiments on the global real estate environment.
The mood among participants was mostly positive. After sitting on the sidelines for several years, yield-starved investors are eager to find new opportunities. Howard Roth, global real estate leader for Ernst & Young L.P., was “cautious but positive, even in Europe, thanks to the recent stimulus,” he said. “There’s plenty of equity looking for a home this year.”
Demitrios Louziotis, senior vice president of global real estate solutions at ARGUS Software, may have best summarized the mood. “This time last year, the champagne glass was half full,” he said. “When we got to the fourth quarter, we realized the bottle was empty. Now the question is where is the next bottle coming from — and who’s bringing it.”
Bud Malone on Texas’ Multi-Family Conditions
Bud Malone, CEO of Mortgages USA, comments on the recent surge in demand in the Texas markets and how such allays concerns about overbuilding. He also sheds light on which markets in the Lone Star State are the most popular and why.
CBRE: 2012 Expected to be Strong Year for Manhattan Hotels
Last year was a good year for the Manhattan hotel market and, according to CBRE Group Inc.’s Winter 2012 Snapshot, this year will bring more of the same: solid performance and rising investment sales volume.
Mid-City L.A. Shopping Center Completes Construction
Developer CIM Group has completed construction of the 330,000-square-foot Midtown Crossing retail center in Mid-City Los Angeles, which targets the more than 1.3 million residents within a five-mile radius.
Sequoia Equities Purchases $52M California Multi-Family Complex
Institutional Property Advisors, a relatively new division of Marcus & Millichap Real Estate Investment Services Inc., has arranged the sale of River Oaks Apartments, a 318,768-square-foot luxury apartment complex in Vacaville, Calif., for $52.4 million. GID of Boston sold the property to Sequoia Equities.
Economy Watch: China Drops Growth Estimate, Wants Stronger Consumer Economy
China lowered its GDP target from 8 percent to 7.5 percent and plans a stronger emphasis on consumption. The ISM’s Non-Manufacturing Index rose 0.5 percent in February to 57.3. And the G8 summit, originally slated for Chicago, will instead be held in Camp David, Md.
Commercial Developments Gain Momentum in the Back Bay and South End Areas
By Veronica Grecu, Associate Editor
With construction picking up in the Back Bay neighborhood, signs of economic recovery are becoming more and more visible in this Boston area. In addition to a number of residential projects that broke ground last year, […]
Macy's Signs 243 KSF Office Lease in San Francisco
Macys.com, the e-commerce-division of Macy’s Inc. department store, has just signed a lease with a joint venture involving TMG Partners and Rockwood Capital to occupy 242,600 square feet at 680 Folsom St. in San Francisco.