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Commercial Real Estate News


Commercial Real Estate News from the Wall Street Journal

  1. 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,.
  2. 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.
  3. 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.
  4. 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.
  5. '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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.

Commercial Property News from Property Week

  1. Noé closes first deal after BMO sell-off
    Leo Noé’s new firm sells Manchester landmark to German fund for £87m
  2. Retail agents face Christmas axe in JLL restructure
    Up to a dozen retail agents at JLL are facing redundancy a week before Christmas as the property advisory group reacts to the slowdown in the high street lettings market.
  3. Arlington and Richardsons acquire Carillion stake in Milburngate
    Arlington Real Estate and The Richardson family have acquired Carillion’s joint venture share in the £150m Milburngate development on Durham City’s Riverside.
  4. KWE acquires €45m Dublin resi apartments
    Kennedy Wilson Europe (KWE) has added to its Dublin North Docks holdings with the acquisition of Northbank Apartments from Jarmar Properties for €45m (£39.6m).
  5. Penguin picks One Embassy Gardens for second London base
    Penguin Random House UK has signed an agreement with Ballymore to take 83,400 sq ft at One Embassy Gardens in the Nine Elms development.
  6. Octopus arms Ktesius with £20m fund for Brighton resi scheme
    Specialist property lender Octopus Property has provided a £20m senior debt facility to Ktesius Projects to back its development of a 70-unit residential scheme in Brighton.
  7. Record Exeter industrial deal completes
    Travis Perkins has purchased a key development site in Exeter in the city’s largest industrial property deal of the year.
  8. Tritax extends £50m Helaba debt facility
    Tritax Big Box REIT has agreed terms to extend the maturity on its existing £50.87m loan facility with Landesbank Hessen-Thüringen Girozentrale (Helaba).
  9. M&G adds to its urban logistics portfolio
    M&G Real Estate has acquired two logistics assets for a combined £17m as it grows its £2.4bn industrial portfolio
  10. Jellycat goes west with White City move
    Soft toys company Jellycat has signed a deal to occupy space at Stanhope, Mitsui Fudosan and AIMCo’s White City Place scheme in west London