News
Kohl’s Buys 970K SF Gateway South in Southern California
In one of the larger recent sales in Southern California over the last year, Kohl’s Department Stores has purchased Gateway South, a 970,000 square-foot distribution center at 825 East Central Avenue in San Bernadino, Calif. Financial terms were not disclosed.
Transwestern Inks 21K SF Lease at LA’s AT&T Center
The Los Angeles office of real estate and development firm Transwestern said Thursday that it has arranged a new long-term lease with Ampco System Parking for 21,031 square feet of space in the AT&T Center, located at 1150 South Olive Street in the City of Angels’ downtown area.
Economy Watch: Bernanke Tells Congress That Fed Needs to Police All Banks
Remarkably, members of the House of Representatives took time from the healthcare hubbub on Wednesday to hear testimony from Federal Reserve Chairman Ben Bernanke, or at least the House Financial Services Committee did.
With a Boost from U.S. Market Activity, Global Investment Volumes to Reach $478B
It is no secret that worldwide commercial real estate investment volumes took a nosedive in 2009. However, last year’s lackluster level of activity will be just a bad memory given the positive 2010 forecast detailed in Cushman & Wakefield’s 2010 Global Investment Atlas, which the commercial real estate services firm launched March 16th at the annual MIPIM world property market conference in Cannes, France.
Hotchkiss Named Executive Managing Director of Cushman & Wakefield U.S. Industrial Group
Cushman & Wakefield announced on Wednesday that they have tapped Dwight Hotchkiss to serve as executive managing director of its U.S. Industrial platform.
PREIT Advances Capital Plan with New $670M Credit
In the current lending climate, it’s a rare occasion that a REIT can obtain over half a billion dollars in financing, but Pennsylvania Real Estate Investment Trust has done just that. The Philadelphia-based retail REIT recently got its hands on a $670 million secured credit facility. But, according to PREIT, the coup had nothing to do with the slow thawing of the credit markets.
Investment Team of Cruz, O’Hearn Joins HFF New Jersey
With 32 years of commercial real estate experience between them, Jose Cruz and Kevin O’Hearn bring a bulwark of industry knowledge to Holliday Fenoglio Fowler New Jersey. The two join HFF from Cushman & Wakefield’s New Jersey investment sales group.
Awful ’09 Making Way for Hopeful ’10: IPD Conference Speakers
The U.S. commercial real estate market turned in the worst performance on record in 2009, posting a return of -17.1 percent for the year, according to results of IPD’s first U.S. annual index. IPD unveiled the findings and the index during a presentation Tuesday morning in Midtown Manhattan.
Economy Watch: Housing Starts Down Because of Snow — and the Economy
Housing starts nationwide stumbled in February according to the U.S. Department of Commerce on Tuesday. Some observers cited the weather for the decline, but the relentless drumbeats of unemployment, tight credit and foreclosures were probably also factors.
MGM Mirage to Bid Adieu to Atlantic City with Borgata Hotel & Casino Settlement
Atlantic City has not escaped the negative financial ramifications of the recession, but that has nothing to do with MGM Mirage’s plans to make its exit from the famous gaming town.