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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. London’s property ‘flippers’ forced to sell at a loss
    A growing number of investors who bought new homes to sell on for a profit have got their fingers burnt
  2. Banks’ Brexit costs are one-off, but asset relocation is one-way
    BofA has spent $400m on shifting employees and operations to Dublin and Paris
  3. Skanska warns of ‘increasing uncertainties’ and proposes dividend cut
    Shares fall as builder suggests trim would help it expand project development business
  4. Interserve needs to avoid government’s ‘no-deal’ Brexit mindset 
    Time is running out but signs are emerging that deadlock for outsourcer may be broken
  5. UK construction growth at 10-month low
    Brexit uncertainty bites as business activity slows, poll of industry executives shows
  6. Opening Quote: Royal Mail — still waiting for delivery
  7. Jupiter seeks to profit from long/short trade on chief executives
    The Slendebroek-for-Formica swap was not expected though it has a clear rationale
  8. Kier chief to step down with ‘immediate effect’
    Haydn Mursell had led the troubled UK construction group since 2014
  9. Why Paris airports are the big prize for Vinci
    After snapping up Gatwick, the group is looking to French hubs to boost revenue streams
  10. US homebuilder confidence comes off over 3-year lows

Commercial Property News from Property Week

  1. Agents Smith Price and Reid Rose Gregory join forces
    Specialist retail and leisure agencies Smith Price and Reid Rose Gregory are merging, Property Week can reveal.
  2. Staycity snaps up Pretique to kickstart development push
    The serviced apartment operator says it plans to eventually develop around 20% of its properties in-house
  3. HCLC urges government to reform business rates and planning to save high streets
    A Parliamentary committee has urged the government to reform business rates which it says are stacking the odds against high street retailers.
  4. Allsop and Auction House’s first 2019 sales down year on year
    Two of the UK’s largest residential auction houses saw a year-on-year dip in sales at their first auctions of the year last week.
  5. Insurer agrees deal to take floor at AXA IM’s Twentytwo Bishopsgate
    US insurance business the Reinsurance Group of America is under offer to take a floor of AXA Investment Management’s Twentytwo Bishopsgate.
  6. First non-London loan for Mayfair
    Mayfair Capital has raised additional equity for its residential debt fund and undertaken its first loan outside London to support Ktesius’s redevelopment of the Astoria Cinema in Brighton.
  7. Funding partner sought for £1bn South Bank scheme
    Black Pearl has appointed agents to find a funding partner to bring forward a £1bn mixed-use scheme on London’s South Bank.
  8. TeamSport signs for Stockton-On-Tees go-karting track
    Indoor go-karting company TeamSport is on track to open a new branch in Stockton-On-Tees on a 20-year lease.
  9. Knotel signs close to 60,000 sq ft of new leases
    Knotel has signed close to 60,000 sq ft worth of new leases across six properties in central London since November last year.
  10. Court rules in favour of Canary Wharf in Brexit ‘frustration’ case
    The High Court has ruled in favour of Canary Wharf Group over its claim that Brexit did not amount to ‘frustration’ of the European Medicines Agency’s 25-year, £500m lease.