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Men's Wearhouse Identifies 145 Stores for Probable Closure

March 11, 2010 - 23:43
During 2009, Men's apparel retail chain, Men's Wearhouse, opened 6 new, but closed 41 stores. Due to geographic overlap caused by its 2006 acquisition of the AfterHours Formalwear chain, the company has identified 145 stores that it would likely close...

Updated: Pershing Square & Fairholme Capital Offer $3.925B to General Growth

March 11, 2010 - 22:10
General Growth Properties (NYSE:GGP) announced that a joint venture between Pershing Square Capital Management and Fairholme Capital Management said they would commit $3.925 billion of new equity capital, at a value of $15.00 per share, to facilitate...

American Eagle Shuttering 28 MARTIN +OSA stores

March 11, 2010 - 00:19
Pittsburgh, PA-based specialty apparel retailer, American Eagle Outfitters (NYSE:AEO), is shuttering its MARTIN + OSA banner, including its 28 stores and online business. The company expects to conclude the liquidation of the MARTIN + OSA stores, which...

Thinning Loan Loss Coffers May Restrict CRE Lending

March 10, 2010 - 21:17
In addition to keeping an eye on declining property values, falling rents and rising vacancy rate numbers, the commercial real estate community is also concerned over ominous signs in banking industry numbers. One big area of concern is the fact that...

Investors Picking Up Unfinished Condo Projects

March 10, 2010 - 21:11
LeaseFlorida LLC in Miami Lakes, FL, foreclosed on two failed residential condominium projects. In the first deal, Cypress Bay condo project in the Sunset Harbor area of Miami Beach. Cypress Bay was a planned 20-unit with ground floor retail at 1225...

Bank Watch: Building a New Banking Company Out of Distress

March 10, 2010 - 21:05
One Main Street LLC, a New York-based investment fund, agreed to acquire tiny Liberty Bank Inc. of Salt Lake City. The transaction is subject to regulatory approval. One Main Street has filed an application to become a bank holding company with the...

Recent Improvement in CRE Liquidity Welcomed, But Loan Maturities Loom Large

March 10, 2010 - 04:51
Commercial real estate lending has tentatively started to flow, but as any building owner will attest, credit isn't easy to obtain and the onslaught of maturing commercial mortgages is chipping away at the confidence of investors. The challenges to...

Lease Up/Lease Down (Mar. 7-13): UBS Renews, Postal Service Unveils 10-Year Plan

March 10, 2010 - 03:42
CoStar 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...

Shopping Center Execs Voice Improving Confidence Despite Major Challenges

March 10, 2010 - 02:36
The International Council of Shopping Centers' (ICSC) latest Shopping Center Executive Survey showed that shopping center executives' confidence in the present economic situation and expectations for the future, while muted, are better and improving....

NEW PLAYER: Cassidy Turley's Mark Burkhart On Launching a Major New CRE Firm

March 10, 2010 - 00:33
Eight regional commercial real estate firms that teamed up to become one in January officially launched as Cassidy Turley on March 1. The firms comprising Cassidy Turley include Cassidy & Pinkard Colliers in Washington, DC, Colliers Turley Martin Tucker...

HHS Leases 114,500 SF in Quincy

March 9, 2010 - 19:46
The Executive Office of Health and Human Services for Massachusetts signed a lease for 114,451 square feet of office space at HarborSouth Tower in Quincy. MassHealth and other related divisions will occupy floors four through eight at 100 Hancock St....

In The Pipeline: CoStar Development and Construction News for March 7-13

March 8, 2010 - 05:44
In this week's edition of In The Pipeline, Forest City's Atlantic Yards mixed-use project is scheduled to finally break ground this week. Meanwhile, another long delayed development project, the Guasti Historic District in Ontario, CA,has begun with...

UBS Renews, Consolidates in Chicago

March 8, 2010 - 04:10
UBS is extending its stay at One North Wacker Drive in Chicago, also known as the UBS Tower. The Swiss financial services firm has renewed for 400,000 square feet in the office tower, a total of 13 floors. The 10-year lease, set to commence in 2012...

10-Year Plan Indicates Post Office Closures

March 7, 2010 - 23:32
Faced with a probable $238 billion shortfall over the next 10 years, the United States Postal Service has outlined a new plan to cut costs and return the agency to long-term profitability. The Postal Service's new plan outlined several additional...

CoStar's Retail News Roundup: Mar. 7 - 13, 2010

March 7, 2010 - 20:06
This week in the Retail Roundup, CoStar reports on expansions or new concepts at TJX Companies and Kohl's; closings, cutbacks, bankruptcy, default, receivership or foreclosure news at Swoozie's and the Northgate Mall; acquisition, merger, loan, sale...

Elbit Plaza USA Aims to Invest up to $1B in U.S. Retail Real Estate

March 5, 2010 - 03:54
Elbit Plaza USA, a new real estate investment venture jointly formed by Elbit Imaging and Plaza Centers N.V., has entered into a co-investment agreement with Eastgate Property, an affiliate of international real estate fund manager, NCH Capital. Specifically...

CBRE Names CFO; Turns Over Reins of Private Client Group

March 4, 2010 - 23:17
Gil Borok was promoted to chief financial officer of CB Richard Ellis Group Inc. He takes over from Bob Sulentic who will continue as CBRE’s president running day-to-day operations and principal business activities worldwide. Both will report to CEO Brett...

Inland Acquires 16-Center Portfolio for $424M

March 4, 2010 - 21:15
Oakbrook, IL-based Inland Real Estate Acquisitions, Inc., the purchasing arm of The Inland Real Estate Group of Companies, Inc., completed the acquisition of a portfolio of 16 shopping centers totaling 3.5 million square feet. The REIT acquired the portfolio...

General Growth Granted Extension to File Reorganization Plan

March 4, 2010 - 06:00
U.S. Bankruptcy Court Judge Allan Gropper granted General Growth Properties an additional 120-day exclusive window to file its bankruptcy reorganization plan. The four-month extension is less than the 180 days that General Growth requested, but is significantly...

Signs of Hope Seen in Investment Sales Activity

March 3, 2010 - 21:17
Large dollar property sales seem to be emitting faint sparks of hope for the commercial real estate outlook so far in 2010, particularly in the multifamily and hospitality sectors. To be certain, the number of property sales with price tags of $5 million...

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