News
Economy Watch: Another Positive Employment Index
Everyone’s U.S. employment index is looking up these days.
Cousins Recaps Struggling $177M Terminus 200 Office Building in Atlanta via New JV
Cousins Properties Inc. has traded one joint venture partner for another in the recapitalization of Terminus 200, its brand new $177.3 million Class A office tower in Atlanta’s Buckhead submarket.
Apartment Realty Advisors Oversees $43M Orlando Sale
Atlanta-based real estate advisory service firm Apartment Realty Advisors said Monday that it has represented an institutional fund advised by Prudential Real Estate Advisors in the $43.3 million sale of The Estates at Park Avenue in Orlando.
Voit Named Asset Manager on $150M Distressed Sacramento Portfolio
In these still-stinging-from-recession days, distressed assets continue to provide a major buzzword in commercial real estate. As part of this trend, Voit Real Estate Services has been named asset manager on a $150 million, 12-asset portfolio in the greater Sacramento area.
Kearny, Morgan Stanley Sell 1.4M SF Business Center in $40M Deal
In a $40 million deal, 1.4 million square feet of industrial and manufacturing space within the Century Business Center in Hawthorne, Calif., was sold by a partnership of Kearny Real Estate Company and Morgan Stanley Real Estate Fund V.
Economy Watch: General Growth Says No Thanks, Simon
Simon Property Group’s “best and final” offer apparently was just that, or at least just its final offer, since the prize–a portfolio of 200 or so malls under the General Growth Properties banner–didn’t go to Simon on Friday after GGP’s board said no thanks and the bankruptcy judge went along with that decision.
Jobs Report: Hiring on the Rise, but So Is Unemployment
Today’s employment data from the U.S. Labor Department contains a seeming contradiction: jobs are more plentiful and yet the unemployment rate is up.
$190M Mixed-Use Residential Project to Be Tallest Building in Newark, N.J.
In an effort to further the revitalization of downtown Newark, N.J., a partnership involving Dranoff Properties, the New Jersey Performing Arts Center (NJPAC) and the city of Newark have revealed plans for the development of One Theater Square, a $190 million mixed-use residential project.
Simon Makes ‘Best and Final’ Offer
Simon Property Group has issued what it says is a final offer to acquire bankrupt retail REIT General Growth Properties. Simon now says it will pay $6.5 billion for the company, which translates to $20 per share.
IKEA Enters Colorado with Groundbreaking on 415,000-SF Denver-Area Store
There are signs of life in Denver’s retail market and Swedish affordable home furnishings retailer IKEA is expected to further improve conditions as it breaks ground on a 415,000-square-foot store in Centennial, Colo.