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Study: Costs Linked To Proposed Lease Accounting Changes Could Harm Economy, CRE Values

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Real estate businesses and property values could be adversely affected by the new accounting standards -- and the cost of complying with them -- according to a report backed by a coalition of real estate and business groups.

As international rule makers prepare to release another draft of proposed accounting changes that would require companies to capitalize real estate and equipment leases, a report warns that current proposals would impose huge...

Social Media in CRE No Longer Just for Socializing

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Commercial real estate brokers and companies are slowly shrugging off their skepticism to social media as suitable platforms for business use and are engaging more frequently in online marketing, information gathering and client building.

While late to the social networking scene, and still in a fledgling state of using websites such as LinkedIn, Facebook and Twitter, many in the CRE industry have started trying to harness their reach in hopes...

Social Media in CRE No Longer Just for Socializing

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Commercial real estate brokers and companies are slowly shrugging off their skepticism to social media as suitable platforms for business use and are engaging more frequently in online marketing, information gathering and client building.

While late to the social networking scene, and still in a fledgling state of using websites such as LinkedIn, Facebook and Twitter, many in the CRE industry have started trying to harness their reach in hopes...

Retail Market Purges Fear of Double Dip

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Retail properties went through a see-saw swing last year with strong leasing during the first half of the year surging upward only to deflate later in the year as several economic shocks threatened to derail the economic recovery. However, the industry is starting to regain some momentum as 2012 progresses, according to new retail outlooks from Marcus & Millichap, Savills US and Colliers International retail groups.

With retail sales now exceeding...

Retail Market Purges Fear of Double Dip

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Retail properties went through a see-saw swing last year with strong leasing during the first half of the year surging upward only to deflate later in the year as several economic shocks threatened to derail the economic recovery. However, the industry is starting to regain some momentum as 2012 progresses, according to new retail outlooks from Marcus & Millichap, Savills US and Colliers International retail groups.

With retail sales now exceeding...

W.P. Carey Converting to a Public REIT

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Investment firm W.P. Carey & Co. LLC (NYSE:WPC) plans to convert into a publicly traded real estate investment trust (REIT) and, in doing so, will acquire its non-traded REIT affiliate, Corporate Property Associates 15 Inc.

The firm said it expects the change in structure will help increase its market share and improve access to capital. The transaction values CPA 15 at $2.6 billion, including the assumption of debt of $1.2 billion, as of Dec....

W.P. Carey Converting to a Public REIT

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Investment firm W.P. Carey & Co. LLC (NYSE:WPC) plans to convert into a publicly traded real estate investment trust (REIT) and, in doing so, will acquire its non-traded REIT affiliate, Corporate Property Associates 15 Inc.

The firm said it expects the change in structure will help increase its market share and improve access to capital. The transaction values CPA 15 at $2.6 billion, including the assumption of debt of $1.2 billion, as of Dec....

High-Rise Breaks Ground, Signals New Construction Cycle

Wed, 02/22/2012 - 23:30 - Building The News | |
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SEATTLE-An outside source tells GlobeSt.com that strong rent growth, in urban neighborhoods like this one, enables developers like Vulcan Real Estate to bring new, ground-up product to the market.

Foreclosure Activity Increases 3% in January

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IRVINE, CA-Even though there was an increase this month, according to RealtyTrac, that number is still down 19% from January 2011.

Rubber & Gasket Stays Put, Renews 15,000-SF Industrial Space

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FORT WORTH-The Arkansas company decides to remain in its original industrial property at Carter Business Center. Also: Other southwest commercial real estate news.

Christie Continues Plan for Income Tax Cuts in 2012 Budget

Wed, 02/22/2012 - 23:30 - Building The News | |
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TRENTON-The governor has proposed a 10% across-the-board income tax cut as part of his $32.1-billion budget. Democrats contend that property tax cuts would be a better boost for the middle and working class.

TCC Secures Construction Finance for Sentinel Square II

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WASHINGTON, DC-The company closed on $181 million in financing, which was provided by Landesbank Hessen-Thüringen Girozentrale and Norddeutsche Landesbank Girozentrale.

Meeting Planning To Hold Static in 2012

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ATLANTA-PKF's Meeting Planners Survey results show that while most respondents don’t expect to decrease the amount of events planned, they don’t expect a dramatic increase either.

Pan American Hotel Still Up For Grabs

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NEW YORK CITY-Located between LaGuardia and JFK Airports, the seven-story, 86,500-square-foot hotel could command a hefty price, Thomas Donovan of Massey Knakal tells GlobeSt.com’s Jacqueline Hlavenka.

Chelsea Parking Lot Becomes Prime Development Site

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NEW YORK CITY-Marcus & Millichap arranged the sale of 140-144 W. 28th St., a 75,000-square-foot parcel that could be the home of a new hotel or retail space, sources say. It traded for $20.5 million.

Marcus & Millichap Hired to Sell $1B Kelly Park Crossings

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ORLANDO-The mixed-use development spans 900 acres and includes nearly every type of commercial real estate type, including a college campus.

CNL Healthcare Trust Spends $84M on Five Senior Housing Properties

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ORLANDO-CNL's Steve Maudlin tells GlobeSt.com's Jennifer LeClaire the assets are newer, fully stabilized assets and in attractive markets.

Rouse Takes Over Discounted Note for Grand Traverse Mall

Wed, 02/22/2012 - 23:30 - Building The News | |
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TRAVERSE CITY, MI-This is the first purchase for the new REIT, spun off from Chicago-based General Growth Properties in January.

Early Positive Reaction for Foreclosure Relief Plan

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TRENTON-Commercial real estate leaders are liking a proposal for turning foreclosures into affordable housing. Federal and state funds would fund the new program.

Beech Street Provides $28M to Refinance an L.A. Portfolio

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LOS ANGELES-L’Abri Management Inc., the borrower, had some close timelines to pay attention to. One of the six properties faces a maturity deadline sooner than the others.