News
Economy Watch: Retail Sales Eke Out December Gain
The Census Bureau reported on Thursday that U.S. retail sales in December edged up only slightly compared with November. Americans are planning to travel more in 2012 and spend more doing it. And on Thursday, investors bought more than 10 billion euro of Spanish bonds.
Cushman: Manhattan Office Vacancies at Lowest Rate in Two Years
New York City’s year-over-year office-leasing activity for 2011 exceeded 2010’s volume by more than 16 percent, according to a new report by services firm Cushman & Wakefield.
Canadian REIT CANMARC Buys Three Properties for $213M
Less than two years after CANMARC Real Estate Investment Trust completed its initial public offering, there appears to be no end in sight to its shopping spree. The REIT has committed to the purchase of three commercial properties across Canada for a total $213 million investment.
MetLife Spends $125M on Chicago Luxury Multi-Family Tower
Amid a flurry of multi-family trades in Chicago, MetLife has bought EnV, a luxury high-rise tower, from LYND Development Partners for an estimated $125 million.
CBRE Grabs Office Building in Atlanta's Atlantic Station Mixed-Use Development
CBRE Global Investors has acquired 201 17th St., a 349,400-square-foot, 17-story, Class A, LEED Gold–certified office tower built in 2007. The Atlanta offices of CBRE will manage and lease the building, which is currently 48 percent leased.
Former Grubb CEO Arnitz Joins American Realty Capital
American Realty Capital continues to incorporate the magic produced by top executives at the former Grubb & Ellis Capital Corp. into its broker dealer subsidiary, Realty Capital Securities, with the hiring of Richard Arnitz.
Economy Watch: Euro-Nervousness Ahead of Debt Sales
The world doesn’t seem to have confidence in the euro zone ahead of the next European Central Bank meeting. And the Beige Book offered some optimism on the economy’s direction, but not much.
Swig Co. Purchases 12-Story Downtown L.A. Office Tower
The Swig Co. has just added a downtown Los Angeles office building to its portfolio with the acquisition of 617 W. 7th St. from a joint venture sponsored by Alliance Commercial Partners.
Hearn Co. Acquires 55 W. Monroe St. Office Tower; John O’Donnell Plans New Office Building
By Gabriel Circiog, Associate Editor
The 803,000-square-foot office high-rise at 55 W. Monroe St. has been purchased by Hearn Co. for $136 million, ChicagoRealEstateDaily.com reports. The deal was brokered by Chicago-based Jones Lang LaSalle Inc., which announced Hearn financed the acquisition […]
Austin Awarded $3M Grant for Colony Park Project; 370-Unit Apartment Complex to Break Ground
By Camelia Bulea, Associate Editor
Austin was recently awarded a $3 million grant from the U.S. Department of Housing and Urban Development (HUD), in order to fund a public-private mixed-use development in Colony Park. The grant will finance a master plan […]