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Commercial Real Estate News


Commercial Real Estate News from the Wall Street Journal

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. Supermarkets Face a Growing Problem: Too Much Space
    A massive build-out by retailers has left the country piled up with grocery shelves as consumers shift from big weekly shopping trips to more snacking and to-go meals.
  6. Excuse Me, You're Blocking My Sun
    Australia’s rapid embrace of rooftop panels—now installed on one in four homes in some areas—has collided with another hot spot of investment, construction of apartments and homes.
  7. 1031 Exchange Real Estate Tax Break Faces Extinction
    A much-loved tax advantage in the commercial real-estate industry is on the chopping block even as chances dim for the passage of a broad federal tax overhaul this year.
  8. Mall Tenants Play Hardball In Lease Negotiations
    Retailers, food and beverage operators and department store chains looking to renew their leases have been asking for more allowances from mall owners.
  9. Mall Project Denied on Former Shea Stadium Site
    New York’s highest court on Tuesday blocked the development of a billion-dollar shopping mall on a Citi Field parking lot in Queens, affirming a ruling that the project needs legislative approval to proceed.
  10. New Jersey Landlords Sweeten Perks With Ride-Hailing Subsidies
    Food trucks and fitness centers are among the amenities that New Jersey office landlords have been using to attract tenants.The latest perk: Subsidies for digital ride-hailing services such as Uber and Lyft.

Commercial Property News from the Financial Times

  1. New players step into Brazil vacuum created by Petrobras scandal
    ‘Car Wash’ corruption probe opens up the market for infrastructure contracts to smaller companies
  2. China’s Zhengzhou banishes ghosts but struggles for second act
    City ambitious to become regional hub but real estate and infrastructure hold sway
  3. Spain’s construction sector rises from the ashes
    Success of Neinor IPO highlights return of an industry devastated by financial crisis
  4. Interserve shares drop 50% in under an hour after profit warning
  5. Skanska chief to step down
  6. Galliford Try hits upper end of target range for profits
  7. Balfour Beatty to sell its stake in Blackpool airport
  8. Redrow: nailing it
    Cyclical companies trading cheaply on record earnings warrant caution
  9. Carillion: fired with enthusiasm
    The turnround begins, but companies like this should be kept private
  10. Carillion shakes up top team as part of rescue plan
    Struggling construction and outsourcing group appoints ‘chief transformation officer’

Commercial Property News from Property Week

  1. Panattoni enters UK sheds market with £300m spec push
    Industrial developer Panattoni Europe will undertake an aggressive £300m spec development programme in the UK after merging with First Industrial.
  2. Developer db symmetry acquires Biggleswade site for 1m sq ft industrial space
    Logistics developer db symmetry has acquired a 50-acre site in Biggleswade capable of delivering more than 1m sq ft of logistics space and creating around 1,250 jobs.
  3. Headline tenant sought for ‘unique’ former courthouse
    A new tenant is being sought for The Old Sessions House – a former courthouse in Clerkenwell which has been redeveloped into a ‘unique headquarters building or a members’ club concept’.
  4. Cable calls for councils to be able to borrow to build
    New Liberal Democrats leader Vince Cable has called on the Government to allow local councils to borrow to build.
  5. Yarlington issues £120m bond
    Yarlington Housing Group, the south west of England affordable housebuilder, has issued a £120m 40-year bond.
  6. CBRE GI to redevelop Angel Central
    CBRE Global Investors has announced plans for an £8m refurbishment and redevelopment of its Angel Central shopping centre in Islington. 
  7. Allsop’s best-ever September auction raises a record £71m
    Last week, Allsop Residential had its best September auction ever, helped by the sale of a number of offices with permission for conversion into apartments under permitted development rights (PDR).
  8. Swedbank takes 177,500 sq ft in Sundbyberg
    Nordic-Baltic banking giant Swedbank has taken a ten-year lease at Fabege’s Sundbyberg complex to leave the office part fully let.
  9. Rare Bristol grade-A office hits market
    One Cathedral Square, the only grade A office building to be delivered in Bristol this year, has been launched to market.
  10. Two new tenants head down Watervole Way for CCP lets
    Commercial Property Partners (CPP) has signed two new tenants for a speculative developed warehouse unit at First Point Business Park on Watervole Way in Doncaster.