Regions
EY Taps Grinis to Lead Real Estate Practice
A 30-year veteran of the global consulting firm, Grinis will oversee a 15,000-member team that serves some 6,000 clients. He succeeds Howard Roth, who will retire on June 30.
Newmark Unveils New Name, Eyes IPO
Dropping “Grubb” from its corporate handle, the services firm has rebranded as Newmark Knight Frank. Its parent company, BGC Partners, is planning to spin off the real estate services unit in an IPO in the fall.
Don’t Count the Regional Mall Out: Transwestern
A new report aims to debunk the supposed demise of the regional mall, and sheds light on strategies for both reinventing retail assets and boosting traditional brick-and-mortar.
Paramount Lands $300M Refi for Manhattan Asset
The REIT engaged Eastdil Secured to arrange the financing for 712 Fifth Ave., a 52-story, 543,000-square-foot Class A office tower in the Plaza District.
McSam’s Chelsea Hotel Breaks Ground
The 45-story building will be one of the tallest towers in Manhattan’s Chelsea neighborhood and it marks another collaboration between developer McSam Hotel Group and designer Gene Kaufman Architect.
JLL to Oversee Renovation at Nashville-Area Office Asset
JLL will oversee planning, design and construction services for the renovation of MAPCO Express Inc.’s headquarters, located within the Corporate Center office park.
ASB Names New VP
Brian Chen joined the company in 2014 and holds more than nine years of commercial real estate experience under his belt. Prior to joining the company, he worked at Tishman Speyer and Booz Allen Hamilton.
JLL to Lease NJ Class A Office Building
The firm will handle the marketing and leasing services for Independence Place, a 120,528-square-foot prime office building located in Warren, N.J. The owner plans to renovate the property’s lobby, restrooms, common areas and elevators.
Economy Watch: Retail Sales Dip in May
By Dees Stribling U.S. retail and food service sales dropped 0.3 percent in May compared with April, the Census Bureau reported on Wednesday. That’s the weakest monthly report for retail sales in more than a year and a half. Compared with the same month last year, however, retail sales were still up by 3.8 percent. As usual, some retail categories fared better than others. A handful of categories experienced month-over-month sales gains in May, such as furniture, up 0.4 percent, and apparel, up 0.3 percent. Grocery stores, as well as health and personal care stores, both eked out 0.1 percent…
Looking Back – and Ahead
Thirty years. That’s how long CPE has been reporting on commercial real estate.