CoStar’s Retail News Roundup: Nov. 15-21, 2009
November 16th, 2009This week in the Retail Roundup, CoStar reports on expansions or new concepts at Apple and Urban Outfitters; closings, cutbacks, defaults, or bankruptcy news at Trans World, InkStop, and Hacketts; acquisition, merger, loan, sale, or IPO activity at…
UPDATE: Chapter 7 Liquidation Follows InkStop’s Abrupt Close of All 152 Stores
November 15th, 2009In Chapter 7, InkStop Retail Chain to Liquidate, published 11/15/09
Warrensville Heights, OH-based printer ink and toner chain, InkStop, abruptly closed all of its 152 stores on October 1, 2009. At the time, the company said the closures were temporary…
Hotels Risk Losing Holiday Inn Brand
November 13th, 2009InterContinental Hotels is ready to strip its Holiday Inn brand from as many as 300 hotels owned by franchisees in North America if those properties don’t renovate.
William Blair Extends 324,700-SF Lease Through 2017
November 13th, 2009In one of the largest office leases in Chicago this year, William Blair & Co., an investment firm, inked a 324,700-square-foot lease extension that will keep it at the Franklin Center through August 2017.
A joint venture that includes the Australia…
Las Vegas Sands to Resume Macau Plans
November 12th, 2009A casino-and-hotel building boom on Macau’s once-barren Cotai area stalled by the global financial crisis is back on track, bringing the dream of recreating the Las Vegas Strip in mainland China’s backyard closer to reality.
Players Shun Faded Pontiac Silverdome
November 12th, 2009The empty Pontiac Silverdome, an 80,000-seat municipal stadium that once was home to the Detroit Lions, is up for auction — and it is possible no one will bite.
$84M Gets Volkswagen the Potamkin General Motors Building in Manhattan
November 12th, 2009The Volkswagen Group of America has closed on its acquisition of the Potamkin General Motors building and car dealership, located at 798-804 11th Avenue in Manhattan, for $84 million, according to CB Richard Ellis.
According to CoStar Property, the…
Employment Demand Outlook: Need To Survive the Next Three Months
November 11th, 2009If landlords across the country can make it through the coming layoff season, (November – January), they may begin to see some stabilization in demand from commercial tenants for space. Looking out 12 to 24 months, business owners say they expect their…
CIT Group’s Care Investment Trust Considering Sale or Merger
November 11th, 2009Care Investment Trust Inc., a New York-based health care REIT managed by CIT Healthcare, a subsidiary of CIT Group Inc., is nearing completion of a review of its strategic alternatives and expects to make a decision regarding its future over the next…
Worst May Be Over for Hotels
November 11th, 2009While occupancy levels and average daily rates (ADR) in the last quarter of 2009 are expected to remain below levels from one year ago, resulting in a 16.4% decrease in room revenue per available room (RevPAR) in 2009, PricewaterhouseCoopers expects hotel…
