Panel Rebuffs Trade Center Developer
January 27th, 2010An arbitration panel denied developer Larry Silverstein’s request for rent abatements at the World Trade Center site.
Hang Lung’s Profit Soared in First Half
January 27th, 2010Hang Lung Properties said its first-half underlying profit surged to nearly five times its year-earlier level, buoyed by stronger property sales and rental income.
Hotels Change Names to Draw Business
January 27th, 2010Luxury hotels have enlisted a new tool to attract business meetings in lean times: For the sake of appearances, they are dropping the word “resort” from their names.
In Hong Kong, Cooling Trend
January 27th, 2010Hong Kong’s de facto central bank said the city’s residential property market cooled in the fourth quarter, allaying concerns a real-estate bubble may be forming.
London & Stamford Looks to Pounce
January 27th, 2010The U.K. real-estate company has a $1.62 billion war chest as it looks for acquisitions. But the market is becoming crowded with more competitors and suffers from a shortage of properties.
Lease Up/Lease Down (Jan. 24-30): Disconnecting the Landline: Verizon to Cut 13,000 Jobs
January 27th, 2010CoStar compiles news of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers in the weekly Lease Up/Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial…
Lease Up/Lease Down (Jan. 24-30): Disconnecting the Landline: Verizon to Cut 13,000 Jobs
January 27th, 2010CoStar compiles news of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers in the weekly Lease Up/Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial…
Positive Outlook for Retail Real Estate Tempered by Ongoing Market Correction
January 27th, 2010Reporting on the major trends that took place in retail real estate in 2009, and expectations for the coming year, CoStar Group recently provided clients with a detailed analysis on the retail real estate market in the latest in its series of quarterly…
Avon North America Relocating to 777 Third Ave.
January 27th, 2010Avon Products is relocating its North America unit to 777 Third Ave. in Manhattan. The global beauty products company signed 15-year lease for 246,500 square feet.
The 38-story, 525,000-square-foot office tower is in the Plaza District, near Dag Hammarskjold…
Updated: Uno Chicago Grill Files Bankruptcy, Cancelling 18 Leases
January 27th, 2010Uno Restaurant Holdings Corp. filed for bankruptcy protection on Jan. 20, 2010.
The company said it posted a $22.2 million net loss in 2009. The company’s CFO commented, “As the national economy suffered and consumers cut discretionary spending, Uno…
