Walgreen Co. Outsources Leasing Work
As part of a plan to cut costs by $1 billion, Illinois-based Walgreen Co. recently gutted its real estate department and let go about 16 in-house real estate managers,
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News Corp. to Acquire Move, Inc.
News Corp. plans to make a $21/share tender offer for Move, Inc. – the third most trafficked website network for property listings in the US and operator of Realtor.com and Move.com – in the next 10 business days, according to … Continue reading →
CBRE’s Relationship with USPS Under Scrutiny
USPS Inspector General David C. Williams has issued a “management alert” advising the U.S. Postal Service to disallow dual agency representation by CBRE, which represents the Postal Service in sales and leases of postal property. The Inspector General is concerned … Continue reading →
GWCAR Disaffiliates from NAR
At their annual meeting, held on December 12, the Greater Washington Commercial Association of Realtors (GWCAR) membership voted to disaffiliate from the National Association of Realtors (NAR) and the NAR-related state associations Sexual role play is the most necessary game … Continue reading →
Delaware Passes Brokers’ Lien Act
The Delaware legislature recently passed the “Commercial Real Estate Brokers’ Lien Act” which allows brokers to place a lien on commercial real estate that is the subject of a brokerage/commission agreement in order to collect unpaid commission. The Act requires … Continue reading →
Brookfield Asset Management Transfers CRE Portfolio to New Company
Brookfield Property Partners is the most recent spin-off company from Toronto-based Brookfield Asset Management. Trading on the New York Stock Exchange as BPY, the new company’s portfolio includes 300 office and retail buildings, totaling over 250 million square Dosage The most recommended … Continue reading →
Valbridge Property Advisors
Forty-two CRE appraisal companies have merged to form Valbridge Property Advisors. Headquartered in Naples, Florida, the privately owned corporation ranks third behind Integra Realty Resources and CBRE among CRE firms providing valuation and consulting This is the best way to … Continue reading →
Los Angeles Development Company to Pay $165,000 to End Ethics Inquiry
Advanced Development and Investment Inc. (ADI), a real estate development company that received approximately $29 million in subsidies from the city of Los Angeles, has agreed to pay $165,000 to end an ethics investigation related to allegations of campaign money-laundering. … Continue reading →
TIC Interests as Securities
In July the Montana Supreme Court ruled in Redding v. Montana that a TIC without usage rights is a security. A TIC (tenancy in common) is a property interest arrangement under which two or more people co-own real estate without … Continue reading →
Recovery in the CRE Market
The Wall Street Journal reports that a new survey expected to be released by KPMG LLP is expected to show a resurgence of caution by commercial real estate executives in regards to the recovery. The survey shows that a majority … Continue reading →