News
Economy Watch: S&P, Homebuilders Negative
Standard & Poor’s had a little surprise in store for the global economy when the rating agency said that its outlook on the United States — as in the debt of the United States — was changing from “stable” to “negative.”
Economy Watch: Budget Wars Begin, Consumers Feeling Better
The House of Representatives voted for a symbolic federal budget on Friday afternoon, one which purports to cut the deficit by $6 trillion or so over the next decade and upend Medicare and Medicaid, previously considered (with Social Security) the third-rail of federal spending.
Kidder Matthews Gets 3.8 MSF Assignment
The King County portfolio that is now in Kidder Mathews’ care includes Northwest Corporate Park-Kent, which, with offerings totaling 2.7 million square feet, holds the distinction of being the largest industrial park in the Kent Valley submarket. Kent North Corporate Park is also part of the package, and features approximately 1 million square feet of Class A distribution and warehouse accommodations.
Record Broken
Totaling approximately 827,300 square feet, the trophy buildings at 70 and 90 Hudson St. in Jersey City, N.J., fetched $310 million in Hartz Mountain Industries’ sale of the assets to CB Richard Ellis Realty Trust.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending April 15 and what to watch out for in the coming week.
General Growth Refinances Seven Malls to the Tune of $1.7B
The move is in accord with the REIT’s post-bankruptcy goal of reducing outstanding debt.
Economy Watch: CPI, Food Prices on Rise
The U.S. Consumer Price Index jumped 0.5 percent from February to March, according to the Bureau of Labor Statistics, and was up 2.7 percent compared with March 2010. The monthly increase was twice as much as in both January and February, when the CPI was up 0.5 percent.
Industrial Firm NFI Inks Massachusetts Lease
The supply chain solutions firm took 135,000 square feet at the Devans Industrial Park.
Lehman-Seized Office Asset Fetches $60.3M
Some investors may shun an office property burdened by a sizable mortgage that is soon to expire. However, a debt-laden property with a full tenant roster such as One Fair Oaks in Fairfax, Va., is nothing to sneeze at, according to First Potomac Realty Trust.
CBRE: N.J. Industrial Market Appears Robust
There’s fertile field in the Garden State, at least when it comes to the industrial market. According to CB Richard Ellis Group Inc., the industry has turned the corner toward recovery, with a progressively more optimistic outlook.