News
Economy Watch: Modest Gains for CRE Predicted in '12, Autos Have a Strong '11
Grubb & Ellis is predicting a banner year for multi-family, but isn’t so optimistic for office. U.S. manufacturing was a bright spot at year’s end, with cars leading the way. And Wall Street is appearing to wait on the week’s employment numbers before making a move.
The Industry Remembers Sale-Leaseback Pioneer William Polk Carey
After the passing of sale-leaseback trailblazer William Polk Carey, his legacy was remembered by industry professionals who knew him as “fearless” and “a pioneer.”
A’s Wolff Makes Triple Play with 3rd San Jose Hotel Buy
By Alex Girda, Associate Editor
Wolff Urban Development L.L.C. is widening its footprint in San Jose through the acquisition of a third high-profile hotel. The privately held investment firm, which is controlled by Oakland A’s owner Lew Wolff, acquired the l71-key […]
Digital Realty Trust Spends $148M on Data Centers in San Francisco, Atlanta
For a purchase price of $85 million, Digital Realty Trust Inc. has become the new owner of San Francisco’s 360 Spear St., and for an additional $63 million, the company picked up a data-center facility next to Atlanta’s Hartsfield-Jackson Airport.
Construction on Sweetwater Development Under Way; Cedar Park Development to Break Ground in Late January
By Camelia Bulea, Associate Editor
In 2010, Wheelock Street Capital purchased a 1,400-acre site located near Lake Travis ISD’s bus depot. One year later, in October 2011, it began construction of Phase One of the Sweetwater residential development.
According to Community Impact […]
LaSalle Hotel Properties Buys Park Central Hotel
Six months after announcing plans to purchase the Park Central Hotel in Midtown Manhattan, LaSalle Hotel Properties has wrapped up the acquisition of the 934-room property in a transaction valued at $396.2 million.
Vornado Nets $126M in 11 Penn Plaza Refi
Vornado Realty Trust rang out the old year by completing a $330 million refinance for 11 Penn Plaza, a 1.1-million square-foot office building in Manhattan.
Economy Watch: FOMC to Start Publishing Predictions
Going forward, the Fed plans to start publishing predictions of board members regarding interest rates. The value of U.S. construction projects edged up 1.2 percent in November. And Wall Street had an up day, as did the price of crude oil.
Building and Land Technology Picks up 614 KSF Stamford Office Complex
Building and Land Technology, one of the largest property owners in Connecticut’s Fairfield County, has just acquired 695 E. Main St. in Stamford. The new owners will be renaming the 614,000-square-foot office complex the BLT Financial Center.
Bill Carey's Legacy
When Wm. Polk Carey passed away yesterday, he left behind a legacy. The 81-year-old founder & chairman of multibillion-dollar investment management company W. P. Carey & Co. was a trailblazer in the sale-leaseback arena.