News
Churchill Becomes Latest Player in Casino Business
The company has spread its wings with the $138 million purchase of Harlow’s Casino in Mississippi.
Tishman Acquires Cap de Seine Building in Paris
The purchase adds 327,000 square feet to the firm’s portfolio and is Tishman’s second transaction in Paris this year.
KBS Closes on Denver’s Granite Tower
The 31-story Class A office tower was bought for $149 million, or $265 per square foot. The transaction is one of Colorado’s largest deals this year, according to KBS.
First Tenant Signs on at SoCal Spec Development
Cast & Crew Entertainment Services L.L.C. has inked a 51,064-square-foot office lease at the newly completed 2300 Empire. The office property is located in the Media Studios North/Burbank Airport submarket in Burbank, Calif.
Economy Watch: States Sue Over Modifications
Arizona and Nevada are hauling Bank of America to court, accusing it of routinely lying to consumers about mortgage modifications. That is, promising action on modifying mortgages but not quite getting around to it, leaving thousands of borrowers in an unenviable state of limbo.
Hudson Pacific Boosts San Francisco Portfolio by 1.6 MSF
Since it entered the commercial real estate market as a REIT in June, Hudson Pacific Properties Inc. has had its eye on San Francisco. The company has just snapped up a pair of office properties in the area.
Economy Watch Weekly: Top News of the Week
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending Dec. 18 and what to watch out for in the coming week in this newly launched weekly feature on CPE Radio and MHN Radio.
Prep Work Begins on Manhattan’s Hudson Yards
Hudson Yards is the largest single undeveloped piece of property in the borough. It is slated for a mixed-use, master-planned community consisting of 13 million square feet of commercial and residential development with 5,000 residences in nine buildings, as many as four corporate-headquarters sites, a retail complex, a 300-room hotel and a new 750-seat public school. It will also include 12 acres of public open space.
Marcus & Millichap Promotes Strauss
Marc Strauss has been tapped as first vice president of investments. He most recently held the title of vice president of investments and first joined the firm as an associate in February 1997.
Economy Watch: Foreclosures On ‘Pause’
RealtyTrac, which follows the U.S. residential foreclosure market, said that foreclosure filings — the grim spectrum of default notices, scheduled auctions and bank repossessions — were reported on more than 262,300 properties in November, a 21 percent decrease from the previous month and a 14 percent decrease from November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.