News
Phoenix to Reignite Real Estate Market?
By Alex Girda, Associate Editor
Phoenix has struggled to finish big developments that were part of the pre-recession wave in the downtown area. A series of companies have been finding it difficult to complete their goals in the challenging economic climate […]
Granite Sells 1.2 MSF Industrial Portfolio
Commercial real estate services firm Holliday Fenoglio Fowler L.P., charged with orchestrating the disposition of Granite Properties Inc.’s industrial assets, had marketed the properties as part of a larger 16-property portfolio with locations in Houston and Dallas.
Economy Watch: Single-Family Sales Rate Down, Fed Says No to B of A
New single-family home sales slid to an annualized rate of 250,000 in February, according to the U.S. Department of Commerce, down 16.9 percent from January. That’s the lowest annual rate since the government first took an interest in tracking new home sales, which was during the last year of the Kennedy administration.
Starwood Property Trust Deploys $352M in Three Transactions
Though the credit markets have not defrosted completely, there is capital out there.
Meritex Buys 306,000-SF North by Northeast
The business park came under lender control following the 2008 bankruptcy of Kobra Properties, but it is bank-owned no more.
Commerzbank Takes 173,000 SF in NYC
The firm leased space at Two World Financial Center in Lower Manhattan, which is owned by Brookfield Office Properties.
Westin Poised for Houston Debut
The 570,000-square-foot property features 267 guest rooms, including 25 suites, and 30,000 square feet of meeting and banquet space.
Hudson Pacific Inks 67,000 SF in Leases
Educational program firm Intrax signed a new long-term lease at San Francisco’s One Rincon Center, while Kimpton Hotels & Restaurants renewed and expanded its previous lease at the city’s 222 Kearny St.
Economy Watch: Shiller, Buffett Opine
MacroMarkets L.L.C., the outfit run by Robert Shiller of Case-Shiller fame, said that the the results of its March 2011 Home Price Expectations Survey were pessimistic indeed for 2011.
Fitch: Special Servicing for CMBS Loans on Downswing
As of mid-March, approximately 200 loans have transferred this year, marking a dramatic descent from the 631 loans in the first quarter of 2010.