Georgia State University might buy the iconic Equitable Building in downtown Atlanta, a skyscraper that helped shape the city's skyline since the 1960s—but in the modern era became an emblem of the metro area's commercial real estate woes. The Equitable Building was acquired by an...
The commercial real estate market continues a slow pace toward recovery, with occupancy rates rising in office properties in most major U.S. cities. The progress is supported by rising employment and restocking of wholesale inventory, according to National Association of Realtors (NAR) Chief...
New York City Mayor Michael R. Bloomberg recently joined law firm WilmerHale's co-managing partner William J. Perlstein and World Trade Center developer Larry A. Silverstein at the signing of WilmerHale's 7 World Trade Center lease - the nation's first to incorporate groundbreaking...
Realty Income Corp., a REIT that specializes in net lease investments, has signed purchase agreements to acquire up to 33 single-tenant, retail, distribution, office, and manufacturing properties under long-term net leases—for approximately $544 million. The portfolio has approximately $...
Office building and retail property values are rising, defying predictions of a collapse that would drag the U.S. economy back into recession. Last February, the Troubled Asset Relief Program (TARP) Congressional Oversight Panel said that a deteriorating commercial real estate market had the...
The Chicago City Council has approved seven ordinances that aim to increase economic opportunities for communities across the Windy City. The ordinances are enabling the construction of new retail and office building properties, the rehabilitation of industrial properties, and neighborhood...
A PwC Real Estate Investor Survey of 31 commercial real estate markets showed that average overall capitalization rates have decreased in 27 of them. The decrease has sparked interest in secondary locations, Class-B properties, and value-added Class-A plays, suggesting that both investors and...
Bright forecasts for holiday season consumer spending are prompting some owners of retail properties in high-traffic Manhattan corridors, like Times Square, to raise tenants' rent. The latest biannual retail report from the Real Estate Board of New York (REBNY) indicates that many tourist-...
The U.S. office sector continues to rebound, according to a new report from commercial real estate services provider Cassidy Turley. And Washington, D.C., is leading the pack, having overtaken New York City for the highest office rents in the country in the third quarter of 2010.
An inspector with the Philadelphia Department of Licenses and Inspection (LandI) has been charged with extortion under the Hobbs Act. U.S. Attorney Zane David Memeger announced the indictment, which alleges that Kenneth Gassman used his position with LandI in an effort to compel a commercial...
A June 2010 study, “Opening the Door to Green Building,” revealed a major discrepancy between the actual cost of building green and the perceived cost of building green among commercial property owners and developers.
Rep. Walt Minnick's (D., Idaho) plan to introduce legislation that would authorize the U.S. Treasury to provide as much as $15 billion to $25 billion in guarantees on new loans to the commercial real estate sector is gaining momentum in both chambers of Congress.
