U.S. Office Market Enters Early Recovery as Absorption, Demand, Vacancy All Point Up
October 13th, 2010The office market recovery has begun — although it may not feel that way yet in every market across the country.
The theme of CoStar Group’s 2010 Third Quarter Office Review and Outlook released this week was both simple and direct: “We are in early…
Retail Watch: Vornado Realty Buys 9.9% Stake in JCPenney
October 13th, 2010Vornado Realty Trust, through its subsidiaries, has acquired beneficial ownership of approximately 9.9% of the common stock of J.C. Penney Company Inc., a major retailer that operates 1,108 department stores nationwide, of which 416 are owned, including…
Hines, Antarctica Capital Win Bidding on 7.3 Mil-SF Calif. Office Portfolio
October 13th, 2010California First LLC, a consortium led by Hines and international private equity firm Antarctica Capital Real Estate (ACRE), were selected as the winning bidder by the State of California to purchase and leaseback 11 of the state’s office buildings following…
“Emerging Trends” Survey Finds Investors, CRE Execs Adjusting to New ‘Era of Less’
October 13th, 2010Investors have tamped down their expectations for over-sized returns in 2011, adopting a back-to-basics approach as debt markets continue to thaw and value-add and distressed sales opportunities gradually build momentum next year, according to respondents…
Presidential Bldg. in DC Goes for $220M
October 13th, 2010Invesco acquired the Presidential Building at 111 Pennsylvania Ave. NW in Washington, DC, from Shorenstein Realty Services and 601 West Associates LLC for $220 million, or about $664 per square foot.
The property is 98 percent leased to Morgan Lewis…
Lease Down: Look for More City Layoffs and Project Cuts
October 13th, 2010City finances continue to weaken under the strain of the recession, resulting in cities being less able to meet their fiscal needs in 2011 and beyond. According to the National League of Cities’ annual report on cities’ fiscal conditions, financial officers…
Land Bet Besets D.E. Shaw
October 13th, 2010Known for its obsession with computer-driven investing, D.E. Shaw surprised many real-estate deal makers in late 2006 by teaming up on a New Mexico development project. Now the hedge-fund firm is facing a roughly $100 million loss.
LGS Innovations Inks 133,352-SF Office Deal
October 13th, 2010LGS Innovations, a subsidiary of Alcatel-Lucent, signed a 10-year lease for 133,352 square feet at 11300 Westmoor Circle in Westminster, CO.
The three-story, 133,352-square-foot, Class A office building was built in June 2001 at Westmoor Technology…
Two Indexes on Commercial Real Estate
October 12th, 2010Green Street Advisors says the commercial-real-estate market hit bottom in mid-2009. Moody’s says not so fast. What are investors to do?
Blackstone in Hotel Hunt
October 12th, 2010Blackstone is taking aim at 14 hotels owned by Columbia Sussex in the latest case of the investment firm buying at the trough of the market a hotel asset that it sold at the peak.
