Regions
Economy Watch: Homebuilders Haven’t Lost Confidence Yet
Builder expectations are modest but holding steady; investor relief over Greek election is short-lived.
Savanna Sells $158M Senior Note Secured by D.C. Office Properties
Savanna wrapped up the sale to Apollo Global Real Estate of a majority interest in a $157.7 million note collateralized by a 1.4 million-square-foot office portfolio in Rosslyn, Va.
St. John Properties Acquires 1 MSF Pennsylvania Shopping Mall
St. John acquired a 1 million-square-foot distressed regional retail center in Harrisburg, Pa., from TD Bank, with plans to redevelop the mall.
Skanska Gets $148M Slice of Moynihan Station’s First Phase
Skanska has signed a $148 million contract with the Moynihan Station Development Corp. for work on phase one of the expansion of New York City’s Pennsylvania Station.
Cushman Arranges 1.1 MSF Industrial Lease Re-Up in California
Conopco Inc., a subsidiary of Unilever, has decided to stay put in its 1.1 million-square-foot home at 305 W. Resource Dr. in Rialto, Calif., and has renewed its contract with property owner Prologis.
ULI: Real Estate Recovery Comes Amid Rebounding Investment; Worries Abound About Debt Capital Shortfall, Europe
Although investment capital is again flowing for CRE, speakers at the Urban Land Institute’s Real Estate Capital Markets Conference are concerned with relative dearth of debt capital, possible refinancing difficulties ahead and the current European economic crisis.
AREA Property Partners, Commonwealth Ventures Plan $225M Office Project in Boston
An 11-story Class A office building along the South Boston waterfront is moving closer to construction now that the Boston Redevelopment Authority has approved the approximately 500,000-square-foot, $225 million project planned by AREA Property Partners and Commonwealth Ventures.
Nine-Property Net-Leased Walgreens Portfolio Sells for $69M
Investors can’t seem to get enough of the net-lease market: An unidentified institutional investment firm beat eight others in a bidding war, acquiring a 117,600-square-foot portfolio of nine Walgreens stores on the East Coast for $68.7 million.
$65M Mixed-Use Dover Landing Project in New Hampshire Moves Forward
Dickinson Development Corp.’s Dover Landing, an upscale mixed-use project that will sit along the Cocheco River in Dover, N.H., has been given the thumbs-up on the revised plans for the $65 million endeavor.
Indianapolis Sees Construction Kick Off for 81 KSF Spec Office Space
Sourwine Real Estate Services is preparing for construction on Indianapolis’ first spec office project since 2008, an 80,699-square-foot, Class A property in the city’s Keystone area.