News
Economy Watch: IMF Optimistic on Global Economy, Less So on U.S. Economy
The International Monetary Fund said on Thursday that it expects the world’s economy to grow 4.6 percent in 2010, up from a 4.2 percent projected growth that the organization posited in April. East Asia will spur much of that growth.
Guardian Life Gives Lowe Enterprises a $200M Shot in the Arm
The partnership’s investment goal centers on capitalizing on the recovering real estate market, which presents substantial opportunities for favorable acquisitions. Lowe has already begun mining the country for just the right assets to purchase.
Comcast Moves into New 106,253 SF Digs
Comcast will occupy floors one, two, three and five at Deerwood, which totals out to 80 percent of the building’s space.
Chesapeake Lodging to Buy 430-Room Boston Marriott Newton for $77.3M in Cash
Located approximately 15 miles west of Boston at 2345 Commonwealth Ave., the 41-year-old, seven-story Boston Marriott Newton occupies an 11.5-acre site fronting the Charles River. The property has undergone extensive renovations over the last two years and, in addition to its guestrooms, features 20,000 square feet of meeting space, a restaurant and a fitness center.
Trammell Tapped to Develop 146,971 SF N.J. MOB
The project will break ground in October and is slated for completion in May 2012. It will be physically connected to the new hospital structure and is owned by Partners Health Trust, Inc., a joint venture of Trammell and a public pension fund advised by Kennedy Associates.
Economy Watch: Shoppers Are Shopping Again
What’s going on? Perhaps consumers aren’t as nervous about rumbles in the international economy (Greece, et al.) as big-picture Wall Street investors. In the long run, Americans might have no appetite for austerity.
Skype Takes 90,700 SF at Stanford Research Park in Silicon Valley
Formed nearly six decades ago by Stanford University, Stanford Research Park encompasses 10 million square feet of space adjacent to the school’s campus, and is known the world over as a leading research and technology compound. The sprawling Silicon Valley property is located about 30 miles outside of San Francisco.
C&W: Manhattan Market Looking Better, Leasing Doubles Year over Year
Manhattan’s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.
Detroit’s Beleaguered Greektown Casino Emerges from Bankruptcy a Half-Billion Dollars Lighter
Greektown Holdings and its subsidiaries have emerged from bankruptcy protection just over two years after having filed for Chapter 11 protection.
Economy Watch: Service Sector Wheezes a Little in June
The jury is still out on double-dip, but the Institute for Supply Management did report a slight weakening of the services sector in June. Not a contraction, but a slower pace of growth, with ISM service index dropping to 53.8 from 55.4 in May .