Paulo Santos makes the case that Sears real estate is carried on the books at or above market values, dispelling the notion that Sears has a lot of undervalued real estate. Santos notes that Sears wrote up its real estate … Continue reading →
Property Magazine reports that UK commercial property values were weaker in February. All property total returns were 0.1 percent with capital values down 0.4 percent. The retail sector had a total return of -0.1 percent. Office space was at 0.2 … Continue reading →
A new mixed-use development at 3336 Wisconsin Avenue NW will bring new retail, a renovated Giant supermarket, residential units and covered parking to the Cleveland Park neighborhood of Washington. The efforts to replace the current structures began in 2000. The … Continue reading →
The Bradenton Herald reports that Avison Young – Canada’s largest independently-owned commercial real estate services company – has acquired Bethesda-based Realty Management Company expanding further in the Washington DC metropolitan area. The acquisition brings an additional 37 employees and a … Continue reading →
Bloomberg, citing analysis from Chandan Economics, reports that in the fourth quarter of 2011, US banks increased funding for commercial real estate for the first time in almost two years. Loan balances for properties including office buildings and shopping malls … Continue reading →
Stuyvesant Town/Peter Cooper Village apartments (StuyTown) is a sprawling collection of 56 buildings 11,250 apartments and more than 25,000 residents. It is located on the East Side of Manhattan. Metlife sold the complex to Tishman Speyer Properties for $5.4 billion … Continue reading →
Santa Ana, CA – based Grubb and Ellis filed for Chapter 11 bankruptcy on February 20. BCG Partners, Inc. holds the bulk of Grubb and Ellis’s debt and is looking to buy out the company for $30 million in a … Continue reading →
A new $320 million project is moving forward on 53 acres of coveted commercial property in upscale North Bethesda, MD. Rock Spring Centre will have 210,000sf of retail, 550,000sf of offices, a hotel and 90,000sf of entertainment, possibly including a … Continue reading →
Lawrence Yun, NAR (National Association of Realtors) chief economist reports vacancy rate improvements across all commercial real estate sectors. NAR forecasts commercial vacancy rates over the next year to decline 0.4 percent in the office sector, 0.8 percent in industrial … Continue reading →
Bill Small of Frias Commercial Real Estate argues that in Aspen, a 7.0 percent CAP rate is a reasonable mean from which to determine a property’s current value and adjust up or down based on location, quality of tenants and … Continue reading →