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Commercial Real Estate News

Commercial Real Estate News from the Wall Street Journal

  1. New York's Commercial Property Slump Shows Signs of Slowing
    After a two-year plunge, brokers are optimistic that more deals will take place in 2018.
  2. NYC Council Stops Midtown Tower Construction
    Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area,.
  3. Malls Never Wanted Gyms. Now They Court Them
    Mall owners long treated gyms, massage parlors, and billiards halls as unwanted tenants that attracted lower-rent visitors who were unlikely to shop. Now they’re giving health clubs some of their best real estate.
  4. New Jersey Office Rents Near Records
    Asking rents for New Jersey office space are nearing records as landlords undertake extensive renovations and fill older properties with top-notch amenities.
  5. Brookfield Property Makes $14.8 Billion Offer to Acquire Rest of GGP
    Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn’t already own, according to people familiar with the matter.
  6. 'Little India' Thrives in Central New Jersey
    Oak Tree Road, known as “Little India,” has been transformed from a rundown and desolate area to a booming ethnic business district that attracts South Asian customers from Maine to Maryland.
  7. NYC's Pearl River Mart Will Expand to Chelsea Market
    Pearl River Mart, once a casualty of skyrocketing retail rents, is planning to open another 3,500 square-foot store at Chelsea Market in Manhattan.
  8. Office Spaces Focusing More on Communal Areas
    Businesses are beginning to design offices spaces that are increasing the amount of square footage per employee when shared work settings are taken into account.
  9. Chocolate Giant Ferrero to Look for Innovation at Cornell Tech
    Ferrero, Italian manufacturer of sweets and chocolates, is setting up an innovation outpost at Cornell University’s technology campus on Roosevelt Island in New York City.
  10. Shortage of Industrial Space on Long Island Squeezes Tenants
    Long Island’s shrinking industrial space has placed expanding tenants in a tough spot, forcing them to look east to Suffolk County and off the island entirely, according to real-estate services firm JLL.

Commercial Property News from the Financial Times

  1. Big UK housebuilders increase land holdings
    Plots held with planning permission have risen by a fifth over past decade
  2. Galliford Try to raise £150m as it takes hit after Carillion collapse
    UK construction group seeks to soothe investors after shares plunge 20%
  3. Carillion collapse prompts Galliford Try to cut dividend and raise capital
    Shares plunge 16% in early London trading
  4. Carillion boss says board should have asked more questions
    Keith Cochrane quizzed by MPs over collapse of UK’s second-biggest construction group
  5. Ex-Carillion chief admits board should have asked ‘more probing questions’
    Keith Cochrane says he ‘absolutely’ wishes ‘we’d done something sooner’
  6. Private equity designs on Carillion expose uncomfortable parallels
    The buyout approach to business is not hugely different to that of many outsourcers
  7. Opening Quote: Monarch owner circles Carillion, Tesco’s new co-pilot 
  8. Greybull circles Carillion assets
    Former Monarch Airlines owner looks at potential acquisitions from collapsed outsourcer
  9. UK construction activity slows in January, PMI survey shows
    Reduction in projects combines with Brexit uncertainty in difficult start to 2018
  10. Redundancy for 377 Carillion staff after collapse
    Over 900 jobs saved after workers transferred to other contractors

Commercial Property News from Property Week

  1. Capco reveals Earls Court loses another £100m in value
    Capital & Counties (Capco) has revealed another fall in the value of its controversial scheme in Earls Court, blaming political and macroeconomic factors for the writedown.
  2. Unite posts robust annual results and reveals £170m fund raising
    Student digs giant Unite has posted a 12% rise in earnings for the year to the end of 2017, and is seeking to raise £170m in a move that heralds the group’s return to London development.
  3. Barratt post record first half figures
    Barratt Developments has revealed a record first-half profit as demand for new homes across the UK continues to be strong.
  4. UK commercial property deals up 66% in January
    Investment in UK commercial property rose 66% in January compared to the same month last year, according to Savills.
  5. Telford Plaza secures record letting to HMRC
    HM Revenue and Customs has taken 112,256 sq ft across 13 floors of One and Two Telford Plaza in the largest commercial letting to take place in Telford in more than a decade.
  6. Invesco forward funds £86m Liverpool BTR scheme
    Invesco Real Estate has partnered with Patten Properties and Panacea Property Development to deliver 383 build-to-rent (BTR) units in Liverpool City Centre.
  7. PRS REIT raises £250m
    The PRS REIT has successfully raised £250m following the early close of its share placing on Monday.
  8. Tart London takes flagship restaurant space at Grosvenor's Eccleston Yard
    Grosvenor has signed caterer Tart London to create its flagship restaurant at its Eccleston Yards development.
  9. Lok'nStore increases bank loan to £50m
    Lok’nStore has increased its bank loan by £10m to £50m, providing funding for site acquisitions and working capital to support the group’s growth plans.
  10. London Mayor and L&Q agree £500m investment in Barking Riverside
    Mayor of London Sadiq Khan has announced a partnership with developer L&Q to invest £500m in a residential-led regeneration in east London.