News
Economy Watch: New Home Sales Up
New home sales in December increased an unexpected 17.5 percent compared with the previous month, but it wasn’t enough to rescue the homebuilding industry from its worst year since the U.S. Department of Commerce started keeping track of the industry — during the Kennedy administration.
Tishman Takes Former Hilton HQ
The Class A Beverly Hills property is the firm’s latest acquisition in the area.
Wilton Purchases Vintage Chicago Building
The REIT’s first purchase, 65 E. Wacker Place, culminates a more than two-year search for a value-added area property.
Economy Watch: Index Confirms Sinking Feeling
The latest Standard & Poors Case-Shiller indexes are out, painting a picture of the poor state of the housing market at the end of 2010. The index of 10 major metro areas fell 0.8 percent from October to November, while the 20-city index fell 1 percent between the same months. Only one metro area eked out a gain month-over-month: San Diego, up 0.1 percent.
Wisconsin Industrial Recovery Continues
A national presort services firm signed a long-term lease agreement for most of the space at 9053 N. Deerwood, a 154,400-square-foot warehouse/distribution facility within the 40-acre Brown Deer Business Park, which is owned by HSA in a joint venture with Morgan Realty Partners. The 10-building industrial and office complex sits approximately 10 miles north of downtown Milwaukee.
Parkway Closes $167.3M Purchase
Located in the heart of Atlanta’s Buckhead district, Parkway’s new purchase is comprised of the commercial segment–470,000 square feet of office space and 20,000 square feet of retail–of the 50-story building that is also home to Sovereign, the 82-unit luxury residential condominium component occupying 23 floors of the skyscraper.
11 Times Square’s 400,000-SF Anchor Tenant Moves In
International law firm Proskauer Rose L.L.P. has taken space at the newly constructed 1.1 million-square-foot office and retail building developed by SJP Properties in Midtown Manhattan.
Economy Watch: CRE Prices Up Again
Commercial property prices edged up 0.6 percent in November from October, according to the latest Moody’s/REAL Commercial Property Price Index. The increase represented the third month in a row that prices advanced.
CoreSite to Expand Project
With development rights secured for the Santa Clara campus, three new data centers and an electrical substation will join the firm’s existing 50,000-square-foot data center at 2901 Coronado Drive, a 10-month-old facility leased in its entirety to a single tenant.
Humboldt Joins Forces with LW Hospitality Advisors
LW, which launched earlier this month, will provide lodging valuation and consulting services to the hotelier, which was founded in May 2010.