Commercial Real Estate News

March 14
11:00 PM bizjournals As more of real estate market hits fan, vets offer to clean up messes A group of development and property management executives has formed a venture that will specialize in managing and reviving troubled commercial real estate. March 14
11:00 PM bizjournals Life insurance may fund real estate deals One of the concerns in the commercial real estate market, as with so many industries, has been the lack of available credit. A lesser-known financing option, however — in the form ... March 14
11:00 PM bizjournals Brinton Lake in Glen Mills is getting more office space Wynnewood Development Inc. will break ground next month on a $16 million medical office building at its Brinton Lake Corporate Center and is edging closer to finally completing ... March 14
11:00 PM bizjournals Building owners urged to renew leases before seeking a loan Commercial real estate owners with loans maturing in the next year should seriously consider getting lease extensions from tenants now, bankers say. March 14
11:00 PM bizjournals Commercial real estate deals cut in half in 2009 Commercial real estate volumes and transactions were nearly cut in half in the Birmingham market last year, as investors were held back by constraints in credit and weariness in ... March 14
11:00 PM bizjournals Have North Texas banks overindulged on commercial real estate loans? Last August, fledgling Access 1st Capital Bank of Denton lined up a deal to acquire the good parts of a nearby struggling bank. March 14
11:00 PM bizjournals Three Charlotte towers top list for downsized Crescent Crescent Resources, the local real estate firm that is preparing to emerge from bankruptcy, is looking for office space. March 14
11:00 PM bizjournals PNC has $9.5 million in real estate on the block PNC Financial Services Group Inc. is putting $9.6 million worth of strategic commercial properties up for sale as part of the final stage of its consolidation of National City ... March 14
11:00 PM bizjournals Wells Fargo rejuvenates Austin Parkway office buildings It’s a bit of a comeback story in Austin’s commercial real estate office building market. After overcoming foreclosure during the recession, the Parkway at Oak Hill, a ... March 14
11:00 PM bizjournals Smart CRE investors still making money Though commercial real estate has taken a hit in the recession, some Cincinnati-area companies have managed to stay in the black in tough times. March 14
11:00 PM bizjournals Merger planned for two Guilford real estate firms Two of the region’s major commercial real estate firms, NAI Piedmont Triad and Alliance Commercial Property Management, will merge their operations as of March 15, according to ... March 14
11:00 PM bizjournals Office building owner outsources leasing Hawaii’s largest owner of office buildings will start outsourcing its leasing activity for 1.6 million square feet of office space in Honolulu next month to a new commercial real ... March 14
11:00 PM bizjournals Choice demographics draw retail tenants to mixed-use development Stonecreek Centre While retail real estate has probably suffered the most of all commercial property types in Memphis for the past two years, areas with high traffic counts and household incomes ... March 14
11:00 PM bizjournals Investor confidence shaken by Vaughan’s real estate troubles Albuquerque real estate veteran Doug Vaughan’s bankruptcy and the subsequent investigations into his dealings with commercial real estate investors are further dampening the ... March 14
11:00 PM bizjournals ITT Technical Institute to lease office space in Northrock complex ITT Technical Institute is seeking to relocate to the Northrock office building at K-96 highway and Rock Road. March 14
11:00 PM bizjournals Real estate suitors court Pricewaterhouse PricewaterhouseCoopers LLP could be this year’s belle of the ball in commercial real estate. March 12
4:46 PM bizjournals Shidler REIT outsources leasing Hawaii’s largest owner of office buildings will start outsourcing its leasing activity for 1.6 million square feet of office space in Honolulu next month to a new commercial real ... March 12
2:44 PM nytimes Square Feet | The 30-Minute Interview: Jeffrey Katz Mr. Katz is the chief executive and principal owner of Sherwood Equities Inc., which has developed and manages more than $3 billion in commercial real estate. March 12
2:21 PM google Lehman Brothers Chapter 11 Proceedings Examiner’s Report Happy reading! March 12
12:30 PM marketwire Xemex Holdings Corp., a Commercial Real Estate Developer Merges With Envirokare Tech, Inc. BROOKLYN, NY--(Marketwire - March 12, 2010) - Envirokare Tech, Inc. ( PINKSHEETS : ENVK ) (the "Company") announced that it has acquired Xemex Holdings Corp. ("Xemex"), a ... March 12
6:18 AM wordpress Aeropostale Trumps Macy’s as a Brand? We know that Aeropostale fares well in the recession and posts impressive sales due to its kindly priced apparel that connects with its teen audience. But as a brand name is it ... March 11
11:43 PM costar Men's Wearhouse Identifies 145 Stores for Probable Closure 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 ... March 11
10:10 PM costar Updated: Pershing Square & Fairholme Capital Offer $3.925B to General Growth 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 ... March 11
4:39 PM wsj WTC Development Talks Continue Negotiations continued between developer Larry Silverstein and the Port Authority who are trying to resolve an impasse over the redevelopment of the World Trade Center site before ... March 11
4:13 PM marketwire Binswanger Named Exclusive Agent for Marketing of Magnificent, Fully Air-Conditioned Former Telect/Hendry Facility in Plano, Texas DALLAS, TX--(Marketwire - March 11, 2010) - Binswanger has been named exclusive agent by Hendry Telephone Products for the marketing of their magnificent, one-story, 218,116 sq. ... March 11
3:53 PM bizjournals Denbury Resources moves into Plano's The Campus at Legacy In a move fueled by recent acquisitions, rapidly expanding oil and gas company Denbury Resources Inc. has leased 325,000 square feet of recently redeveloped office space at The ... March 11
1:46 PM bizjournals Randy McCombs joins Grant Street Associates Randy McCombs, laid off recently as an executive vice president and managing director of GVA Oxford, has joined the leadership of Grant Street Associates, Inc., a Downtown ... March 11
10:56 AM bizjournals Foundation Realty Advisors pays $18.4M cash for Hampton Oaks park Commercial real estate investment firm Foundation Realty Advisors LLC paid $18.4 million for east Tampa’s Hampton Oaks Business Park, or about 28.5 percent less than the ... March 11
9:47 AM nreionline Rising Delinquency Rates Show Troubles Deepen for CMBS Rising Delinquency Rates Show Troubles Deepen for CMBS March 11
8:42 AM wsj Fortis Sues Lender Kennedy in Debt Case Kennedy Funding, a New Jersey lender to cash-strapped real-estate developers, has plenty of experience going after debtors who fall behind on their payments. But now it's ... March 11
6:16 AM wordpress J. Crew Stepping up Expansion Plans After taking a break in new-store growth, J. Crew will add 15 units this year and has “ambitious” expansion plans in 2011, according to management. The move comes ... March 11
12:19 AM costar American Eagle Shuttering 28 MARTIN +OSA stores 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 ... March 10
9:17 PM costar Thinning Loan Loss Coffers May Restrict CRE Lending 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 ... March 10
9:11 PM costar Investors Picking Up Unfinished Condo Projects 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 ... March 10
9:05 PM costar Bank Watch: Building a New Banking Company Out of Distress 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 ... March 10
2:24 PM bizjournals Spec building earns LEED silver HSA Commercial Real Estate’s recently constructed speculative warehouse building in the Park 94 Mount Pleasant industrial park has received a silver certification in Leadership in ... March 10
1:21 PM biggerpockets When Your Commercial Loan Comes Due Commercial real estate analysts have predicted that approximately 1.5 trillion dollars of commercial loans will be maturing between now and 2013. Most of these loans were ... March 10
12:50 PM nreionline Is the Recession Over? Rick Mattoon, a senior economist and advisor in the economic research department of the Federal Reserve Bank of Chicago, says the economy is experiencing a fairly sharp rebound ... March 10
10:31 AM marketwire West Virginia Commercial Property Auction Set for April 13 PRINCETON, WV--(Marketwire - March 10, 2010) - A commercial property auction set for April 13 will feature manufacturing and warehouse space, plus approximately 36.5 acres selling ... March 10
10:20 AM nreionline REIT Stocks Jump as Investors Bet on Recovery REIT Stocks Jump as Investors Bet on Recovery March 10
9:59 AM google NAR Immediate Past President Testifies Before Congress Charles McMillan testified before Congress today to offer that NAR stands ready help develop a responsible natural disaster policy. March 10
9:13 AM wsj Helmsley Estate Sells Manhattan Hotel The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million. March 10
9:03 AM wsj General Growth Debt Bet Pays Off A handful of investors dug to the bottom of the discount bin and snapped up General Growth's convertible bonds at three cents on the dollar. They now trade at 103 cents. March 10
8:58 AM wsj European REIT Rollout at Hand With European property markets beginning to recover from the market downturn and global recession, there are signs that the REIT revolution could be at hand. March 10
4:51 AM costar Recent Improvement in CRE Liquidity Welcomed, But Loan Maturities Loom Large 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 ... March 10
4:44 AM wsj BofA Ends Some Overdraft Fees Bank of America plans to announce that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead of a sweeping round of regulations. March 10
3:42 AM costar Lease Up/Lease Down (Mar. 7-13): UBS Renews, Postal Service Unveils 10-Year Plan 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 ... March 10
2:36 AM costar Shopping Center Execs Voice Improving Confidence Despite Major Challenges The International Council of Shopping Centers' (ICSC) latest Shopping Center Executive Survey showed that shopping center executives' confidence in the present economic situation ... March 10
12:33 AM costar NEW PLAYER: Cassidy Turley's Mark Burkhart On Launching a Major New CRE Firm 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 ... March 9
9:48 PM wsj BofA Lawyers Rebuked in Cabi Case BofA lawyers have agreed to reimburse lawyers for a Miami developer after a judge's rebuke for trying "to score a litigation point" in an ongoing foreclosure dispute.