Business Specialties Leasing
GM Filing Affects Industrial Sector, Local Economies
June 03, 2009
A major part of bankrupt carmaker General Motors' plans to fast track its reopening as a new, sleeker firm in 60 to 90 days, are a number of real estate-related decisions that could have an effect on commercial property industry, especially the industrial sector.
Economic Update - Seismic Shifts in Auto Industry Have CRE Implications
June 02, 2009
Monday was an historic day in Detroit, and arguably for the entire U.S. manufacturing sector, even though GM's formal announcement of bankruptcy, along with President Obama's promise for more than $30 billion for a company in which the U.S. Government will soon own a controlling interest, weren’t surprises. A little more surprising (only a little) was the quick approval by Chrysler's bankruptcy judge of the sale of most of its assets to a group led by Fiat SpA, meaning that the Detroit automaker will continue to exist in one form or another, albeit with Italian bosses. But the fact that both events happened the same day is an unusual coincidence indeed.
C&W: Industrial Market Continues Downward Spiral in Q1
May 26, 2009
It was a grim quarter for the industrial real estate market. The first three months of 2009 saw the sector's average vacancy rate climb up to 9 percent from 8.3 percent in the fourth quarter of 2008 and 7.2 percent one year ago, marking a four-year high. That is just some of the discouraging news from real estate services firm Cushman & Wakefield Inc.'s latest quarterly MarketBeat report.
Boston, Philly, San Fran Ranked as Top Life Science Clusters
May 22, 2009
Boston, Greater Philadelphia and Greater San Francisco are the three most successful regions at sustaining and building value in the life sciences area, according to a newly released study by the Milken Institute. These cities' healthy life science sectors are to a large extent buoying the markets in the midst of the current economic turmoil.
YRC Logistics Leases 120,800 SF at Turnpike Distribution Center
May 18, 2009
YRC Logistics has signed a 120,800-square-foot, long-term lease at Turnpike Distribution Center, 1750 Shenango Road in New Galilee, Pa. Global Logistics Group facilitated the transaction on behalf of the lessor, Turnpike Distribution L.P. Grubb & Ellis Co. represented YRC Logistics in the transaction.
Despite Spring Thaw, Harsh Forecasts Continue for Retail
May 18, 2009
The retail sector’s current distress will eventually provide ample opportunities for investors and retailers. But the slight spring thaw in consumer attitudes about retail will not be enough to prevent harsh conditions for the rest of the year, according to multiple national assessments of the retail sector published during the past week.
Lowe Signs 310,202-SF Lease Renewal in Arlington
May 13, 2009
Lowe Enterprises has signed a five-year lease renewal with the U.S. General Services Administration for 310,202 square feet of office space at Jefferson Plaza in the Crystal City area of Arlington, Va.
Infinite Dimensions Leases 102,882 SF in Georgia
May 13, 2009
On behalf of the landlord, Cobalt Capital Partners, Transwestern’s Atlanta office has completed a 102,882- square-foot lease at Button Gwinnett Distribution Center, located at 2375 Button Gwinnett in the Peachtree Corners area of Norcross, Ga.
Sizable Manhattan Office Lease May Indicate Impending Uptick
May 13, 2009
The New York City office market has taken its hits with the tanking of the economy, but accounting firm Marcum & Kliegman L.L.P.'s new lease agreement for nearly 67,200 square feet at 750 Third Ave., the largest tenant relocation lease in Midtown Manhattan this year, is sparking hope that the worst will be over sooner rather than later.
First Potomac Executes 97,400 SF of Renewal, Expansion Leases in Virginia
May 06, 2009
Two long-term tenants in First Potomac Realty Trust's Southern Virginia portfolio have renewed leases totaling approximately 97,400 square feet. Corinthian Colleges Inc., a tenant at Greenbrier Circle Corporate Center in Chesapeake, Va., since 1999, has renewed its 26,900-square-foot lease and will also expand into an additional 12,300 square feet in August.
Duke Leases 104,700 SF in Maryland Heights
May 04, 2009
ESSENCE Healthcare has leased 104,700 square feet in Duke Realty Corp.'s office building located at 13900 Riverport Drive in its Riverport Business Park in Maryland Heights, a northwest St. Louis, Mo., submarket.
SunTrust Leases 252,800 SF in Atlanta
May 04, 2009
America’s Capital Partners has leased 252,822 square feet to locally based SunTrust Bank at the Marquis II building in ACP’s Peachtree Center mixed-use development in Atlanta, Ga.
Net Lease Deals Surge in Q1 as Prices Slide: Boulder
May 04, 2009
At least one category of commercial real estate investment is enjoying a surge in activity, though not in pricing. Net lease transactions rose several hundred percent for all three major net lease property sectors during the first quarter compared to the last three months of 2008, according to a study by Boulder Net Lease Funds L.L.C.
Location Key as Pennsylvania Retail Project Bucks Slow Economy
May 01, 2009
While projects across the country stall or delay until the economy turns a corner, a half-million square foot Pennsylvania retail development dubbed Exeter Commons is bucking the trend with 94 percent of its space pre-leased as a late summer opening approaches.
Economic Update - Sublease, Shadow Space Vex Office Owners
April 30, 2009
Office landlords have a lot on their minds these days. As companies contract, demand for space drops, and landlords are being pressured to lower rents--which no one wants to do--or increase incentives for tenants to stay, which is only a little more palatable. Sublease space, which bothered office property owners in the early 2000s, has also returned.
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