News
BBPC Hunts for Financing while Empire State Building Turns 80
By Veronica Grecu, Associate Editor
The completion of the 85-acre Brooklyn Bridge Park might be delayed until 2013 for financial reasons. After $233 million spent and more than 20 years of planning, the park is far from being finished. And only […]
Logitech Inks 263,500-SF Lease
The firm, which works in Internet communications, digital music, home entertainment and wireless devices, will occupy the Pacific Research Center in Newark, Calif., through at least February 2023.
Woods Joins Red Capital as Director
Gary Woods has three decades of experience in mortgage finance and acquisitions. His background includes stints with Bridger Commercial Funding, NorthStar Realty Finance and Washington Mutual.
Economy Watch: Deutsche Bank Suit, Debt Drivers
The U.S. government is taking Deutsche Bank AG to court over the matter of bum loans made by a part of the German bank–loans that happened to be guaranteed by the Department of Housing and Urban Development.
Miami Residents Take ’Green’ Building into Their Own Hands
By Georgiana Mihaila, Associate Editor
The current U.S. focus on green building has recently been highlighted by the efforts of several Miami residents and students. A couple from Coconut Grove, for example, intend to lower utility bills by creating their own […]
Rents Grow; Homes, Commercial Developments Still Low
By Veronica Grecu, Associate Editor
A new report released by S&P/Case-Shiller Home Price Indices shows that home values for the Boston area dropped by about 1.5 percent in February, for the seventh consecutive month. That is good news for the rental […]
AMB’s Asia Portfolio Stabilizes
For companies seeking premier industrial space for lease in Asia, AMB Property Corp. is nearly fresh out for the time being. With the recent closing of four leases totaling 420,900 square feet at AMB Sendai-Tagajo Distribution Center in Sendai, Japan, the company’s entire legacy development portfolio in Asia is now stabilized.
315,900-SF Suburban D.C. Office Building Fetches $90M
Eleven years after snapping up the Class A property for nearly $59.3 million, LaSalle Investment Management Inc. sold the asset to CB Richard Ellis Investors.
Economy Watch: Construction, Debt Ceiling
U.S. construction spending rose more than expected during March, according to the U.S. Department of Commerce. The 1.4 percent gain was the largest in the construction sector since April 2010, and came on the heels of a 2.4 percent decline in the sector in February. For the 12 months ending in March 2011, however, construction spending was down 6.7 percent.
BGC Purchase of Newmark Strategic for Growth
Real estate advisory firm Newmark, which operates as Newmark Knight Frank in the U.S., has agreed to be acquired by BGC Partners Inc., a major global voice and electronic broker to the wholesale financial markets. The transaction involves 425 Newmark brokers and a majority interest in more than 25 domestic offices. Neither party has revealed the financial details of the agreement.