News
USAA Adds 225,610 SF to Retail Portfolio
Wampanoag Plaza was sold by New York-based Emmes Asset Management Company and is currently 97 percent leased to 11 tenants.
Fitch: U.S. CMBS Delinquencies Nearing 8 Percent on Office Defaults
Throughout the month, 44 office loans went delinquent, including 14 loans with a balance greater than $20 million.
The largest new delinquency was the $380 million Columbia Center loan, whose collateral is located in Seattle.
Chesapeake Lodging Trust Closes $46M Purchase of Ritzy Checkers Hotel in Los Angeles
In addition to its premier guestrooms, the 16-story property, which was originally developed in the 1920s, features 3,300 square feet of meeting and event space, as well as a restaurant and a fitness facility.
Economy Watch: Major Chain Stores See Sales Uptick, Unless They’re Selling to Teens
On Thursday, Thomson Reuters’ survey of 28 major U.S. chain stores found that they posted a 2.5 percent year-over-year increase in same-store sales in May.
CPE’s Digital Edition for June is Live, With All the Industry News, Information and Features Pertinent to Your Business
Check out the June issue of Commercial Property Executive, featuring interviews with Doug Frye and Charles Werhane as well as all the pertinent news and information you need. Click here.
$189M Flood Repair Price Tag for Nashville’s Gaylord Opryland Resort and Grand Ole Opry
If all goes as planned, Gaylord will reopen Gaylord Opryland on November 15 and the 4,400-seat Grand Ole Opry House on October 1 of this year.
Ground Broken on $70.4M Pharmaceutical Facility in Southern California’s Life Sciences Market
BioMed is developing the project at a cost of $400 per-square-foot, or a total of $70.4 million.
Voit Advances Distressed-Asset Mandate Via $100M Portfolio
Voit Asset Services executive managing director John Strockis said that the firm was retained based on its expertise as a real estate operator: specifically, developing, owning and managing comparable projects.
D.C. Health Department Leases 150,000 SF at Premier Office Complex
The lease transaction paves the way for DOH’s consolidation of a handful of area offices.
Economy Watch: NAR’s Pending Home Sale Index Advances
The National Association of Realtors Pending Home Sale Index rose to 110.9 based on contracts signed in April, up from 104.6 in March. Compared with April 2009, the most recent index looks even better, since a year ago it stood at an anemic 90.6.