A Bradenton, Fla., 41-year-old shopping mall was on the online auction block recently, with the winning bid ultimately reaching $33.75 million. Empty storefronts have plagued DeSoto Square Mall for years, but a new owner isn’t necessarily the answer—and there will still be...
On July 17, the Senate passed the Terrorism Risk Insurance Program Reauthorization Act of 2014, extending the original Terrorism Risk Insurance Act (TRIA)—enacted in 2002 following the events of 9/11—for an additional seven years. Many CRE industry participants have been advocating...
The world’s largest real estate investor has kicked off a trend that’s being picked up in the CRE world. Blackstone Group LP has led a wave of investors in Indian commercial property. Blackstone representatives said that there has been rental growth in almost all markets, and tenants...
The e-commerce purveyor of vintage and handmade goods, Etsy, has signed a lease for a substantial amount of space in Brooklyn to set up its headquarters. The company, which was founded in New York, has chosen to set up shop in the former Jehovah’s Witnesses’ Bible-printing plants...
A new U.S. real estate forecast based on a survey of 39 of the industry’s leading economists and analysts shows that commercial property transactions are expected to rise over the next two years to levels not seen since before the recession—exceeding the volumes hit in 2006. The...
Lawmakers in California and New York are drawing attention to the Terrorism Risk Insurance Act (TRIA), which was enacted in 2002 because the private insurance marketplace was failing to provide adequate terrorism insurance coverage following the events of 9/11.
Technology and media are benefitting Broadway in a big way, as Facebook expands its office space in Manhattan’s Midtown South neighborhood—exercising a lease option that will give it 60 percent more room to spread out.
The social networking firm initially leased 100,000 square...
The Real Estate Roundtable’s latest quarterly Sentiment Survey has some good news for CRE owners and investors: U.S. commercial real estate markets continue their gradual recovery from recession—as reflected by improving fundamentals, transaction volumes, and capital flows—and...
In some good news for New York City commercial real estate, an overwhelming majority of survey participants have changed their outlook on the fate of Lower Manhattan real estate post-Hurricane Sandy. Of more than 100 executives surveyed by accounting firm Marks Paneth & Shron LLP, only 6...
The findings from a recent CIT Group Inc. survey may make 2014 a little brighter for the CRE industry. That’s because middle-market commercial real estate executives are expressing cautious optimism toward the market and are looking to take advantage of long-term investment opportunities,...
Governor Andrew Cuomo has announced that New York State is increasing its support for Steiner Studios’ media campus project in north Brooklyn, bringing its total financial assistance to $11.3 million. The contributions will enable the largest film company outside of Hollywood to finance...
A former shopping mall will be the new site of Google, Inc. after what has been described as the year’s biggest commercial real estate lease deal so far in Silicon Valley. The mall, which is being revamped into office space, is in Mountain View, Calif.
