News
Discount Retail on the Rise
Today’s announcement that Dollar General plans to open 600 new stores nationwide underscores the strong showing that discount stores have made in today’s turbulent market.
Economy Watch: Retailers See Modest January Uptick
Retailers did reasonably well in January, with retail same-store sales up 3.3 percent compared with the same month a year earlier, according to a Thomson Reuters’ survey of 29 major chain stores.
SPECIAL REPORT: MBA Makes Predictions for Economy, Interest Rates, Unemployment, Commercial Real Estate
Commercial real estate market conditions are not likely to ever return to levels last seen at the peak of the market in 2007, according to Jay Brinkmann, chief economist and senior vice president, research and economist, of the Mortgage Bankers Association (MBA).
Calpine to Build First U.S. Power Plant with Emissions Limits
The power company Calpine said Thursday that it has gotten the go-ahead to build the country’s first plant with a federal limit on greenhouse gas emissions.
Deloitte Appoints New U.S. Real Estate Leader
The newly appointed leader of international accounting and consulting firm Deloitte’s U.S. real estate practice is looking to distressed asset funds, REITs, and international capital as three major components of the commercial real estate market in 2010.
Economy Watch: CBRE Profits From Asian Rebound
Los Angeles-based CB Richard Ellis Group Inc. has reported net income of $64.3 million, or 21 cents a share, for 4Q09. That compares quite favorably with the same quarter in 2008, when the multinational brokerage lost $1.1 billion, or $4.70 a share.
NHI Wraps Up $67M Purchase of Six Florida Nursing Facilities, Plans to Purchase More
Murfreesboro, Tenn.-based National Health Investors Inc. has added six skilled nursing facilities in Florida to its property portfolio via a $67 million transaction with Nashville-based Care Foundation of America Inc.
Bankrupt Opus West Files Suit Against Parent Company
Bankrupt and owing more than a billion dollars to creditors, the Phoenix-based real estate services firm Opus West Corp. is suing its parent company for $163 million.
Lenders Smile on Forest City with Closing of Half-Billion Credit Facility
While credit markets are still tight, Forest City Enterprises has managed to secure a $500 million revolving credit facility with a 15-bank group.
Voters Reject Alameda Point Development Project
Voters in the San Francisco Bay Area city of Alameda have soundly voted down Measure B, which would have provided for development on Alameda Point, a former Naval air station.