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Updated: 6 hours 14 min ago
August 8, 2010 - 22:10
In one of the largest retail redevelopments of recent years, The Macerich Co. (NYSE: MAC) Aug. 6 officially reopened Santa Monica Place as a 524,000-square-foot open-air retail center in Santa Monica, CA, anchored by Bloomingdale's and Nordstrom.
Following...
August 8, 2010 - 02:38
Brandywine Realty Trust said last week that it has acquired the leasehold interest in 1717 Arch St. in Philadelphia. The Blackstone Group sold the 1 million-square-foot office skyscraper for $129 million, or about $125 per square foot.
The 53-story...
August 5, 2010 - 19:41
This week's People of Note includes the following markets: Houston, Jacksonville, Kansas City, Los Angeles, New York City, Orange County, Orlando, South Bay, SW Florida and Tampa/St. Petersburg.
LOS ANGELES, SOUTH BAY
Colliers Hires 25-Year Veteran...
August 4, 2010 - 20:15
Commercial real estate pricing has been a tale of two worlds, with the largest metropolitan markets attracting significant institutional capital and forcing prices upward over the first two quarters of 2010, while the broader market has continued to soften...
August 4, 2010 - 20:15
Nearly 90% of the top apartment markets in the U.S. experienced demand growth during a solid performance for multifamily leasing in the first half of 2010. The first six months also brought an uptick in investment sales, particularly in the number of...
August 4, 2010 - 20:15
CB Richard Ellis (NYSE: CBG) and Jones Lang LaSalle (NYSE: JLL), two of the largest publicly traded global commercial property brokerage firms, posted double-digit increases in revenues for the second consecutive quarter, with rebounding investment sales...
August 4, 2010 - 20:14
The commercial real estate recovery has become dependent on, and stands precariously linked to, the re-pricing and deleveraging of property positions, according to the CCIM Institute and the Real Estate Research Corp. (RERC). That is a change from being...
August 4, 2010 - 20:11
Second-quarter 2010 commercial and multifamily mortgage loan originations were 1% higher than during the same period last year and 35% higher than during the first quarter, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial...
August 4, 2010 - 20:10
The cumulative default rate on fixed-rate conduit U.S. commercial mortgage-backed securities rose to 9.48% through June 2010 and is on track to reach 11% by the end of the year, according to Fitch Ratings. Delinquencies for commercial loans with collateralized...
August 4, 2010 - 20:05
Centro NP LLC and its parent company Super LLC and its joint venture Centro NP Residual Holding LLC completed a series of financing transactions that improves the debt maturity profiles across all three entities. The transactions address the bulk of the...
August 3, 2010 - 22:17
An entity of Fairmont Hotels & Resorts agreed to sell The Fairmont Copley Plaza hotel in Boston’s Back Bay to FelCor Lodging Trust for $98.5 million, or approximately $257,180 per room. The sale is scheduled to close in the third quarter.
FelCor is...
August 3, 2010 - 04:02
CoStar compiles news of consolidations, closures, layoffs and lease cancellations in the weekly Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on corporate expansions...
August 2, 2010 - 21:16
In the Long Island Market's largest multifamily transaction this year, Eagle Rock Management LLC acquired seven apartment communities totaling 1666 units in Carle Place, Hicksville, Mineola, Nesconset and Woodbury. Fairhaven Properties Inc. sold the properties...
August 2, 2010 - 05:20
In this week's Pipeline, Gov. Arnold Schwarzenegger speaks at a ceremony to launch the massive $3.3 billion construction project to build a "health-care city" at an Air Reserve Base near Moreno Valley, CA; in more health-care construction news, BremnerDuke...
August 2, 2010 - 03:09
CoStar compiles news of corporate expansions, relocations and lease extensions in the weekly Lease Up news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on consolidatations and lease...
August 1, 2010 - 22:59
Last week, United States Cellular Corp. (U.S. Cellular) signed an early renewal and expansion at Citicorp Plaza in Chicago. The wireless network provider will occupy a total of 212,000 square feet through October 31, 2017.
Located in the O'Hare submarket...
August 1, 2010 - 21:41
The United Nations Population Fund (UNFPA) has agreed to a 130,740-square-foot lease at 605 Third Ave. in Manhattan, following a complex negotiation involving four separate parties.
The UNFPA, a humanitarian organization that works to reduce poverty...
August 1, 2010 - 20:17
Microsoft is expanding its New England Research & Development (NERD) Center in the Kendall Square neighborhood of Cambridge, MA. Boston Properties signed the software leader to a long-term, 113,000-square-foot lease at One Cambridge Center. Occupancy...
July 30, 2010 - 00:23
In Chicago's largest commercial real estate transaction this year, KBS REIT II has acquired 300 N LaSalle St. for $655 million, or $503 per square foot, according to an SEC filing.
KBS primarily financed the purchase with proceeds from a five-year...
July 29, 2010 - 22:41
By Finereve Holder and Brooke Fienman
Dividend Capital Total Realty Trust Inc., a Denver-based REIT, acquired a portfolio of 39 office and industrial properties for $1.3 billion from iStar Financial Inc. The portfolio is 99% occupied and consists...