News
NAI, C-III Merger Finalized, Signals Larger Trend
In a deal that took six months to finalize, C-III Capital Partners L.L.C. has completed its acquisition of NAI Global, the largest network of independent commercial real estate firms worldwide.
JLL Adds to Tenant-Rep Side with Purchase of Australian Firm
Jones Lang LaSalle has acquired Sydney-based tenant advisory firm MPS Properties, adding approximately 43 million square feet of Australian office space to the company’s management rolls.
Studley, Boyd Execs Form D.C. Tenant-Representation Firm
Three real estate industry veterans have joined forces on the launching of a new services firm, Serten Advisors, designed to provide commercial real estate services exclusively to tenants in metropolitan Washington, D.C.
Economy Watch: Low Rates for a Long Time, Fed Says
The Fed maintained that interest rates will continue to stay low through late 2013. The Pending Home Sales Index was down 3.5 points in December. And the Federal Housing Finance Agency noted that foreclosures still hold back home valuations.
Latham & Watkins to Relocate from Willis Tower to 330 North Wabash Avenue
By Gabriel Circiog, Associate Editor
Prime Group Realty Trust announced that Latham & Watkins, LLP has executed a lease agreement and will relocate its Chicago headquarters to 330 North Wabash Avenue in or around April 2014. The law firm will occupy […]
Lucescu Closes Phase Two of $166M Scottsdale Promenade Sale
In a $66 million deal that completes the second phase of the Scottsdale Promenade sale, Lucescu Realty has sold the Promenade Corporate Center to Excel Trust, a publicly traded REIT.
Marriott Buys NYC's Clock Tower for $165M, Plans New Luxury Hotel Brand
After acquiring New York City’s Clock Tower building at 5 Madison Ave. in 2007 for $200 million, Africa Israel USA has sold the property to Marriott International for $165 million.
Will 3 WTC Be 80 Stories, or Just Seven? Yes!
While there’s been speculation as to whether 3 World Trade Center will cap at seven stories, rather than its planned 80, the project’s goal is still very much alive, according to Silverstein Properties’ CEO Larry Silverstein.
Economy Watch: President Devotes Most of State of the Union to the Economy
As expected, President Obama laid out numerous elements of his economic program in Tuesday’s State of the Union address. And the Bureau of Labor Statistics reported that in December, 37 states and the District of Columbia recorded unemployment-rate decreases.
New Hotel Project Shapes Up in Downtown; 156,000-square-foot Office Building Sold
By Camelia Bulea, Associate Editor
A 137-room Hampton Inn & Suites is planned to be built in downtown Austin near the University of Texas campus and the Capitol. The eight-story building will be built on the site that was once meant […]