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market

Philly Mayor Markets Mall Makeover

May 23, 2012

Philadelphia Mayor Michael Nutter took to the International Council of Shopping Centers’ annual leasing conference to woo retailers as the city of 1.5 million redevelops the Gallery at Market East mall.

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Betting on Vegas Comeback

April 17, 2012

MGM Resorts and Dubai World made an ill-fated bet on the Las Vegas real-estate and gambling market, launching an $8.5 billion casino resort called City Center soon before the market turned. Now, they are betting that the condo market is approaching a bottom.

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ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014

March 29, 2012

Costar… Even among the stream of positive real estate surveys and forecasts recently, the one issued this week by the Urban Land Institute (ULI) stands out. Expressing the consensus views of 38 leading real estate economists and analysts from across the U.S., ULI reported commercial real estate market conditions and the overall economy is expected to see broad improvement over at least the next two years as the recovery cycle kicks into overdrive and shifts… See original here: ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CapLease Receives 1M-SF Nestlé Renewal

March 27, 2012

Costar… CapLease, Inc. (NYSE: LSE) executed a lease renewal with Nestlé Holdings, Inc. for its 1,045,153-square-foot industrial property at 555 Nestle Way in Macungie, PA. The lease will commence on January 1, 2013 for a term of five years. Contract rent is $4.40 per square foot, increasing 3% per annum. Nestlé’s distribution building was constructed in 1994 on 86 acres in the Lehigh Valley Industrial submarket of Philadelphia. CapLease… Read more: CapLease Receives 1M-SF Nestl

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BOMA 360 Grows to 420

March 26, 2012

Costar… A total of 420 buildings in 55 markets have now received the coveted BOMA 360 designation, which recognizes commercial properties for excellence in overall building operations and management. BOMA International went on to name the top five companies, each with 20 or more commercial buildings across the country to have reached BOMA 360 status:CBRE – 59 buildingsBrookfield Properties – 31 buildingsPiedmont Office Realty Trust – 24 buildingsParmenter… Read more here: BOMA 360 Grows to 420 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 18-24)

March 23, 2012

Costar… This week’s People of Note includes the following markets: Charlotte, Chicago, Dallas/Fort Worth, New York City, Retail, San Francisco and South Florida. DALLAS/FORT WORTH Local Investment Sales Broker Moves to Cushman & Wakefield By CoStar Research Scot Farber joined Cushman & Wakefield in Dallas where he will focus on the sale of office and industrial properties as part of the firm’s investment sales group. Farber, Read more from the original source: CoStar’s People of Note (March 18-24) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CMBS Market Heats Up, So Too Do Credit Risks

March 22, 2012

Costar… The CMBS market continued to heat up this week as securitization firms rolled out four new offerings totaling more than $3 billion. Those deals are in addition to three offerings totaling $2.67 billion that sold earlier this month. The offerings are another sign of a relaxation from the extremely tight credit conditions that smothered investment activity following the Great Recession, according Moody’s Investors Service. At the same time, the newest… Read more: CMBS Market Heats Up, So Too Do Credit Risks Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 11-17)

March 16, 2012

Costar… This week’s People of Note includes the following markets: Chicago, Los Angeles, New York City and South Florida. NEW YORK CITY Horowitz Promoted to EVP at Studley By CoStar Research Longtime Studley broker Daniel O. Horowitz was recently promoted to executive vice president. Consistently one of the firm’s top-producing brokers, Horowitz has been with the New York-based real estate services firm since 1990. Over the course of his career Excerpt from: CoStar’s People of Note (March 11-17) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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PG&E’s Inks 250,000-SF Office Lease in San Ramon

March 14, 2012

Costar… Pacific Gas and Electric plans to move the majority of its gas operations to Bishop Ranch, a 585-acre business community in San Ramon, CA. The utility supplier finalized a 10-year lease for 250,000 square feet of office space at 6121 Bollinger Canyon Road. Built in 2003, Building Z is a five-story, 250,000-square-foot office building in in the East Bay/Oakland market. Sunset Development Co. owns the LEED Gold certified property. Bishop Ranch… Read more here: PG&E’s Inks 250,000-SF Office Lease in San Ramon Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Banks Returning to CRE Lending via Multifamily, Owner-Occupied Properties

March 8, 2012

Costar… It’s not a big hook to hang a hat on, but the small increase in some commercial real estate loan balances on bank books at the end of the year serves as yet another indication of thawing lending markets for property investors. Overall loan balances on bank books posted their largest real growth in four years, according to year-end numbers released this past week by the Federal Deposit Insurance Corp. (FDIC). As far as CRE lending goes, it was… Excerpt from: Banks Returning to CRE Lending via Multifamily, Owner-Occupied Properties Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff

March 8, 2012

Costar… CMBS markets are ramping up for a blast of activity that they haven’t seen since the first half of last year. In the past few days, three new deals totaling $2.67 billion have priced or hit the streets, part of an expected larger volume of spring deals to come. “The roughly $11 billion of CMBS deals lined up through April puts the market on pace for PPR’s prediction of $35 billion in 2012,” says John O’Callahan, capital market strategist for CoStar… See original here: As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CBRE Taps Durburg To Oversee All Leasing and Sales Transaction Services

March 7, 2012

Costar… CBRE Group promoted one of its division presidents to the newly created position of Global President, Transaction Services. In his new role, Jack Durburg, formerly president of CBRE’s U.S. Central Division based in Chicago, will be charged with expanding the firm’s position in leasing, capital markets and transaction management services globally across all property types, working closely with the regional and business line leaders. Durburg… Follow this link: CBRE Taps Durburg To Oversee All Leasing and Sales Transaction Services Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Macys.com Leases 242,573 SF in San Francisco

March 1, 2012

Costar… Macys.com, the e-commerce business for mega retailer Macy’s Inc., leased 242,573 square feet at the 14-story mid-rise at 680 Folsom St. in San Francisco. The online operation will occupy seven floors of the 476,000-square-foot, Class A office building in the South of Market district. The 15-year lease term has a January 2014 move-in date. The technology division will relocate from several local properties including 685 Market St., a 219,831-square… Continue reading here: Macys.com Leases 242,573 SF in San Francisco Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Cousins Becomes Second Major Firm To Drop Land Development

March 1, 2012

Costar… Less than one month after Forest City Enterprises announced it will reposition or divest its land holdings and refocus on apartments, office and retail developments in its core markets, Cousins Properties Inc., said it too plans to drop land from its mix of assets — and will take a $126 million charge to do so. The Atlanta-based REIT’s commercial land holdings include 475 acres, with 326 acres in Georgia, 66 in Texas, 56 in Florida and smaller… Read more from the original source: Cousins Becomes Second Major Firm To Drop Land Development Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs

February 16, 2012

Costar… The Westfield Group has formed a $4.8 billion joint venture on 12 regional shopping malls in the United States with the Canada Pension Plan Investment Board (CPPIB.) The deal is the largest real estate investment made by the institutional investor, and a big bet on the future health of U.S. shopping malls. The investment gives CPPIB ownership interests in 26 malls in major U.S. markets. It has also invested in malls in the U.K., Australia, Brazil… Read the original post: Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (Feb. 5-11)

February 10, 2012

Costar… This week’s People of Note includes the following markets: Baltimore, Chicago, New York City, Philadelphia and Washington, DC. NEW YORK CITY Carlton Hires Managing Directors Gollin & Moss By Timothy Weber Mark Gollin and William Moss joined Carlton Group as managing directors. Gollin will run the European advisory group, while Moss will run the residential strategic advisory group. Gollin has spent the last 16 years in senior pos Go here to see the original: CoStar’s People of Note (Feb. 5-11) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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China Vanke Hints at Market Weakening

November 16, 2011

China Vanke said its housing prices are set by the market, suggesting a shift in sentiment as some housing prices fall in response to government tightening measures.

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Home Builders Run Out of Lifelines

August 31, 2011

From WSJ.com… Five years into a housing meltdown, questions are arising about how long some home builders can survive without significant improvement in the market. Follow this link: Home Builders Run Out of Lifelines Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net View article: Home Builders Run Out of Lifelines

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Some Home Builders Run Out of Lifelines

August 31, 2011

Five years into a housing meltdown, questions are arising about how long some home builders can survive without significant improvement in the market.

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Market Turmoil Stings Commercial Sector

August 10, 2011

Tremors in the market for commercial-mortgage-backed securities are hindering the recovery of the commercial-property sector.

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