News
JLL Inks Lease Renewal on 980 Madison Ave.
The Gagosian Gallery signed a 10-year agreement on slightly more than 50,000 square feet in the Class A office building.
Economy Watch: Budget Plans, Beige Book
Is President Obama’s plan to reduce the deficit through cuts in spending and increases in taxation the path to U.S. fiscal solvency? It depends on whom you ask.
CBRE Realty Trust-Duke JV Closes on 3 MSF Portfolio
The majority of assets in the entire 20-building group are located in the Midwest, a region that accounts for 72 percent of its total square footage.
SL Green Nails Down $260M Loan on 3 Columbus Circle
News of the financing comes three months after SL Green recapitalized the 83-year-old property, located at 1775 Broadway across from the AOL Time Warner Center and Central Park. With the recapitalization, SL Green became part owner of the asset through the creation of a joint venture with The Moinian Group, which had acquired a former partner’s 90 percent stake for $250 million in 2004.
Economy Watch: Discount Rate, Spending
Is the Fed planning to tighten monetary policy? Some of its member banks have been asking for a modest increase in the discount rate: 25 basis points, which would take that rate up to 1 percent. According to minutes of discount rate discussions released by the Fed, the banks of Kansas City and Dallas asked for such an increase at meetings in January, February and March.
Spring Fever Hits Boston Brokers
By Veronica Grecu, Associate Editor
Impatient investors looking for new opportunities might want to look at office properties in the Greater Boston area. It ranked third-best in a recent U.S. office report. More deals and increased rents and occupancy rates are likely […]
Record-Breaking Army Land Exchange Advances Bay Area Development
With the signing of the largest-ever Reserve Property Exchange Agreement, the U.S. Army paved the way for SunCal Co.’s development of a master-planned community, Dublin Crossing, on 180 acres at Camp Parks Reserve Forces Training Area in Dublin, Calif. In return for the land, SunCal will build 152,300 square feet of new buildings for the military.
Forest City Closes $70M Loan on Baltimore Office Property
The 278,000-square-foot Class A property at 855 N. Wolfe St. is a research office property at The Science + Technology Park at Johns Hopkins University. Its tenants include the Lieber Institute for Neuroscience Research, Champions Biotechnology, Siemens and the Johns Hopkins Brain Sciences Institute and Translational Research Laboratory.
Economy Watch: Oil Prices Increase, Fed Unlikely to Take Action
It seems that there’s some elasticity in the demand for gasoline among U.S. consumers. Exactly how much is still a matter of conjecture and a function of how much more prices spike in the summer ahead, but in any case now that the price of gas is headed skyward, demand for it is responding by dropping, just as it did in early 2008, before the most recent oil bubble burst.
L.A. Stays “Hollywood” When it Comes to Real Estate
By Alex Girda, Associate Editor
The city of Los Angeles has its own particular style when it comes to dealing with the real estate market downturn. Recent news regarding significant changes in the way downtown L.A. will look center on the […]