Retail
Vornado Sells Washington Properties
By Adrian Maties, Associate Editor Vornado Realty Trust (NYSE:VNO) announced on July 5 it will sell its office building located at 409 Third St., S.W., in Washington, D.C. The price is $200 million and will result in net proceeds of $186 million and a net gain of $120 million. On the same day, Vornado also […]
Colliers Adds Birmingham Office
Colliers International continued its expansion with a new Southeast office in Birmingham, Ala. The 15th office added in two years, Colliers Birmingham, formerly Sandner Commercial Real Estate, represents “a significant growth opportunity” for Colliers in the Southeast.
Premier Miami Beach Retail Center Trades for $132M
A 167,000-square-foot retail property in Miami Beach, Fla., has sold for a cool $132 million just nine years after being acquired for $43 million by joint venture partners RFR Holding L.L.C. and Greenstreet Real Estate Partners L.P.
DreamWorks to Design Theme Park for $3.7B N.J. Meadowlands Project
The DreamWorks indoor theme park will be a major attraction for American Dream at Meadowlands, the 7.5 million-square-foot project that Triple Five is developing in East Rutherford, N.J.
Simon Obtains Restructuring on $291M Retail Malls Loan
With Talmage L.L.C. acting as special servicer, the $291 million loan on the Cadillac Mills Portfolio has been modified and restructured. The portfolio encompasses three regional malls totaling 2.8 million square feet.
Vornado Buys, Sells–and Pulls Back Its Veil
Vornado had a busy 4th of July week, with nearly $1.3 billion in deals. But in announcing its array of purchases and dispositions, it has also been pursuing a new “transparency” strategy. What remains to be seen is how the market will react to everything it’s doing.
Economy Watch: Most Industries Create Few Jobs in June, but Retail Vacancies Drop, Rail Shipments Mixed
June’s weak employment numbers capped a weak quarter overall for U.S. job growth. The Association of American Railroads measured the number of U.S. rail carloads originated in June 2012 at about 1.14 million, down 1.3 percent, but the intermodal volume at just over 996,000 containers and trailers, up 5.2 percent. And Reis Inc. reported the vacancy rate for regional U.S. malls dropped to 8.9 percent in the second quarter.
Air Force Opens Dental School; Contractor Selected to Build Helotes Walmart
By Camelia Bulea, Associate Editor The U.S. Air Force opened a $38 million dental school in San Antonio. The dental school and clinic consists of 56,000 square feet of space and has 69 treatment rooms, 5,400 square feet of lab space and 125 assigned personnel, according to the San Antonio Express-News. The San Antonio Business […]
$34M of Financing in Place for NYC Office and Retail Portfolio
With the assistance of Meridian Capital Group L.L.C., Pi Capital Partners has obtained a loan for the refinancing of an office and retail portfolio in Manhattan and Queens.
CoStar Q2 Report: Slow Improvement in Office; Retail Slides
Fundamentals in most commercial real estate sectors improved or held steady during the second quarter, as per CoStar Group’s upcoming national report. But there’s always a surprise and the last three months were no exception.