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Commercial Real Estate News


Commercial Real Estate News from the Wall Street Journal

  1. CBRE Global Investors Buys Stake in Three GGP Malls
    One of the world’s largest real-estate asset managers has purchased a 49% stake in three malls in a deal that values them at more than $1 billion and shows that investors still have an appetite for top-tier retail property.
  2. FAO Schwarz Is Returning to New York
    A dominant presence in Midtown Manhattan for decades before its closure in 2015, the toy store is coming to life again with a new, 20,000-square-foot Rockefeller Center location.
  3. Sportswear-Maker Puma to Open New York Flagship
    Germany’s Puma has signed a lease deal to creating a marquee location on Fifth Avenue that will be the first of its kind for the company in North America.
  4. Kushner Cos., Brookfield Near a Deal for Stake in 666 Fifth Ave.
    The real estate arm of Brookfield Asset Management is in advanced talks with Kushner Cos. to buy roughly a 50% stake in 666 Fifth Ave. and invest hundreds of millions of dollars in the Manhattan office tower, which has been at the center of a controversy over possible conflicts of interest involving Jared Kushner, President Donald Trump’s son-in-law and adviser.
  5. Sign of the Times: New Office Space Created in Retail's Tumult
    Normandy Real Estate Partners’ $133 million deal for the upper portion of ABC Carpet’s flagship store is an example of office space edging into territory that once was retail’s domain.
  6. Want to Buy a Luxury Hotel in the U.S.? Try China's Insurance Regulator
    When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U.S. hotels. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago.
  7. 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.
  8. 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,.
  9. 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.
  10. 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.

Commercial Property News from the Financial Times

  1. Bovis increases use of part exchange as market slows
    In 15% of sales group has taken buyer’s existing property as part payment towards new home
  2. Taylor Wimpey on track for the year but uncertainty ahead
    The housebuilder said it expected sales to be flat in 2019
  3. LafargeHolcim announces sale of Indonesian subsidiary
  4. Interserve tumbles as investors bet on trouble ahead
    Disclosed short positions represent 6.16% of contractor’s stock
  5. Persimmon boss at centre of pay storm to leave
    Jeff Fairburn had originally been in line for £110m bonus under 2012 bonus plan
  6. Turkish Airlines: flying the flag for Erdogan
    As Istanbul’s new airport nears completion, will political and economic pressures stall the carrier’s growth?
  7. UK construction activity rises but confidence dips
    October purchasing managers’ index data show new orders slowing as Brexit fears intensify
  8. Intu identifies sites for 5,000 homes
    Retail landlord eyes alternative uses as asset values slide on negative sector sentiment
  9. UK rail industry woes blamed on ‘boom and bust’ funding
    Inconsistent spending hits hiring and investment, senior executives say
  10. Is the UK construction industry having its ‘Uber moment’?
    Off-site modular manufacturing seen as the solution to sector’s productivity problem

Commercial Property News from Property Week

  1. Singaporean fund buys DWP-let office portfolio for £280m
    Singaporean investor Elite Partners Capital has completed a £280m deal to buy Telereal Trillium’s Hayhill Portfolio, which comprises 98 regional offices let to the Department for Work and Pensions (DWP), Property Week can reveal.
  2. Weston Group posts profit hike
    Weston Group, the housebuilder, serviced offices and logistics group, has revealed a 54.5% leap in annual profit.
  3. LondonMetric continues exit from retail assets
    LondonMetric has sold its retail park in Martlesham Heath, Ipswich, for £22m, reflecting a net initial yield of 5.2%.
  4. Target buys East Sussex care home
    Target Healthcare has paid £13.8m for a 62-bed care home in East Sussex.
  5. IWG's Spaces to double in size next year
    IWG-owned co-working provider Spaces has set out ambitious plans to double its portfolio in 2019 to more than 400 offices globally.
  6. Reuben brothers and Shiva to develop new hotel in Soho
    David and Simon Reuben have entered into a joint venture with Shiva Hotels to develop a new hotel across two separate sites they have recently acquired in Soho.
  7. Unilever's Bedford base hits market for £66m
    Palmer Capital and Wrenbridge have put Colworth Park, home to one of Unilever’s global research and development campuses, on the market for £66m.
  8. JLL’s Evans to head up Cushman’s industrial team
    Cushman & Wakefield has appointed Richard Evans from JLL to head up its UK logistics and industrial team.
  9. Aviva puts £30m One City Square building on market
    Aviva Investors has put Leeds city centre office building One City Square on the market for £30m.
  10. South Korean consortium secures Frankfurt skyscraper for €670m
    A South Korean consortium comprised of IGIS and Hana Financial Investment has acquired the 45-storey Trianon skyscraper in Frankfurt from NorthStar Realty Europe for €670m (£595m).