- International Beat
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Scotland’s Big Deal LaSalle Investment Management Kapitalanlagegesellschaft mbH recently purchased two retail properties in Scotland for a total of £58.6 million or more than $91 million. What do they have in common? Long term leases. One store, in Glasgow’s Style
- Market Trends
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Libor – What Is It? The recent debacle involving manipulation of the London Interbank Offered Rate caused many to wonder what exactly it is. This benchmark interest rate used throughout the world’s financial systems is determined by the British Bankers
- Regional Outlook
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East D.C.’s Big Deal The next fast food trend coming your way conveyor belt sushi. London based Yo Sushi opened its first U.S. franchise location in Washington, D.C.’s Union Station, with two more D.C. locations planned for this year. The
- International Beat
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Finland’s Big Deal Stockholm based private equity firm NIAM is confident about the future of Helsinki’s office market. The firm purchased a portfolio comprised of 15 office and two retail properties in the city totaling more than 100,000 sm at
- Regional Outlook
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West San Diego’s Big Deal The aptly named DiamondView Tower — whose 15th floor skybox overlooks the San Diego Padres field — sold for $121 million, the area’s largest single office building sale for 2012, according to CBRE, which handled
- Market Trends
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Briefly Noted Hospitality — "The gates are opening for eager private equity and institutional buyers to take calculated risks in primary and secondary markets, says Arthur Adler, managing director and CEO Americas for Jones Lang LaSalle Hotels. He adds that
- Regional Outlook
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SouthBig Deal in Texas Warren Buffett’s favorite furniture store plans to enter the Texas market in a big way Nebraska Furniture Mart — owned by Buffett’s Berkshire Hathaway — has announced a $1.5 billion development anchored by a 546,000 sf
- International Beat
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Hong Kong’s Biggest DealIn what Jones Lang LaSalle calls “the largest deal ever recorded in Hong Kong’s history,” Mapletree Investments purchased Festival Walk shopping center from Swire Pacific for $2.4 billion, as its first Hong Kong acquisition. Analysts predict it
- Market Trends
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2013 Construction Uptick Although nonresidential construction was subdued in 2012, commercial construction spending will accelerate by 5.2 percent this year, according to Associated Builders and Contractors. Office construction spending is expected to rise 10 percent, with lodging up 8 percent,
- Regional Outlook
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Midwest Chicago’s Big Deal Here’s a classic value add deal in the Windy City Berkley Properties LLC purchased the 1929 Civic Opera Building for $125.8 million from Tishman Speyer, which bought it for $185 million in 2007. The 44 story
- Market Trends
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Banks Take It Slow Banks will continue their slow deleveraging act for at least another year, according to Emerging Trends in Real Estate 2013, holding troubled assets while waiting for values to inch up. “As long as loans are current,
- Regional Outlook
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South Miami’s Big Deal Lincoln Road Mall was one of the top acquisitions in 1H 2012, as Vornado Realty Trust JV paid $1,039 psf, or $132 million total, according to Real Capital Analytics, purchasing the 13 year old center from
- International Beat
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Australia’s Big DealHouston based Hines Global REIT purchased its first Australian property in Brisbane an unassuming 158,682 sf, six story office building for $91.6 million. The attraction? It’s fully leased through 2021 as the headquarters of global engineering firm Ausenco.
- Regional Outlook
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South Miami’s Big DealMiami’s hotel transaction volume rose 154 percent in 2011, according to Jones Lang LaSalle, the strongest deal volume since the peak year of 2005. Last year $557 million in hotel sales closed. The largest, at $130 million,
- Market Trends
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High Tech on a High Tear High tech job growth is fueling office absorption in more markets than expected, according to Jones Lang LaSalle. Access to talent is the No. 1 location driver, along with creative space requirements large open
- International Beat
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Russia's Big Deal More proof that a well located retail center can always command top dollar A Morgan Stanley real estate fund has agreed to buy the largest mall in St. Petersburg, Russia, for $1.1 billion, from Meridian Capital, according
- Market Trends
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Developers Get Ready While new multifamily construction may not be out of the ground yet, developers are busy with “land acquisition, lining up financing, and getting building permits,” according to the 1Q12 Quarterly Survey of Apartment Market Conditions, conducted by
- Regional Outlook
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West California's Big Deal The state of California accounted for 29 or close to a quarter of 2011's top single asset hotel deals, including the $137 million sale of the Mondrian Los Angeles, which was the second highest U.S. price
- International Beat
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Canada’s Big Deal The Bank of Nova Scotia sold its landmark Toronto tower for $1.27 billion, the largest price ever paid for a Canadian office property. Dundee and H&R REITs partnered to buy the 68 story, 22 msf Scotia Plaza,
- Market Trends
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2012 Niche Investment Prospects1. Medical office 2. Urban mixed use 3. Data centers 4. Self storage 5. Mixed–use town centers Source Emerging Trends in Real Estate 2012 survey Briefly NotedHospitality — Up to a 100 day wait for visas is
- Calculating the Overbuilding Equation
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During the dismal first half of the 1990s, new commercial real estate development ground to a halt. Construction was absent from the industry for so many years that developers began to think of themselves as property managers. But mid decade,
- Cajun Country Puts Spice in Markets
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Down south in Louisiana, "Our economy is basically tied to the oil industry," explains Gary P. Tilley, CCIM, of Stirling Properties, Inc., in Covington, Louisiana. While others contend that the economy has become more diversified and note the impact of
- Companies Focus on Real Estate Strategies for the New Economy
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As new e businesses emerge and existing companies reinvent themselves by converting current operations to adapt to the new economy, their real estate strategies increasingly focus on off balance sheet alternatives. Many companies seek to alleviate earnings pressures, improve net
- CMBS Market Turmoil Opens Door for Commercial Banks
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Tumultuous world financial markets sent the commercial mortgage backed securities market into a tailspin in September and October 1998. Spreads for AAA rated CMBS to 10 year Treasuries spiked to 200 basis points in October from less than 100 basis
- Chicago a Sweet Home to Many Real Estate Markets
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Chicago is a commercial real estate kind of town. Home to just under eight million people, the Windy City’s metropolitan area has seen myriad activity lately in all of its major property types. "The Chicago area economy is strong due