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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 the Financial Times

  1. Carillion’s sins of omission on pay and debt were a warning sign
    Too much crucial information remained buried and was missed for too long
  2. Carillion held just £29m in cash when it collapsed
    Document shows construction group owed £1.3bn to banks as government demands fast-track probe of directors
  3. Ministers seek fast-tracking of Carillion investigation
    Probe to be extended to include current and former board members of collapsed outsourcer
  4. Business secretary calls for “fast-track” investigation into Carillion directors
  5. Opening Quote: Carillion – counting the cost, and the jobs
  6. UK’s PPF reassures over its financial strength
    Pension Protection Fund prepares to take on thousands of members from Carillion
  7. Scramble to contain fallout of Carillion collapse
    Only 48 hrs support for private contracts as public works get priority
  8. Carillion under fire for raising dividend as pension deficit grew
    Thousands of members of multiple retirement schemes face cuts to benefits
  9. How investors failed to spot Carillion’s mounting problems
    Data deep in accounts show all was not as well as it seemed as far back as 2011
  10. Carillion collapse shakes up wider market
    Workers sent home as rivals reveal financial knock-on effect of group’s liquidation

Commercial Property News from Property Week

  1. Ridley to take over from Helsby as Savills chief exec
    Jeremy Helsby is set to retire as Savills’ group chief executive at the end of the year and will be succeeded by Savills UK chief executive Mark Ridley.
  2. Abu-Dhabi investment giant buys 'The Caley" in Edinburgh for £85m
    Hotel giant Hilton has sold the Waldorf Astoria Edinburgh – The Caledonian to Abu Dhabi-based Twenty14 Holdings for £85m, the largest regional hotel sale in the UK in a year.
  3. Former HSBC head of real estate finance comes to Cloudscraper as CFO
    Proptech firm Cloudscraper has appointed former HSBC global head of real estate finance Matthew Webster as its new CFO, stepping out of its ‘stealth’ period.
  4. Property Partner to offer shares in commercial properties
    Real estate crowdfunding platform Property Partner is to offer investors the opportunity to buy shares directly in commercial properties.
  5. LEO takes nearly 50,000 sq ft of prime London lettings
    Serviced office provider London Executive Offices (LEO) has signed more than 46,000 sq ft of leases in prime central London.
  6. Metropolitan and Thames Valley announce partnership plans
    Thames Valley Housing and Metropolitan have formed a partnership to increase their delivery of housing, improve services to the community and strengthen their financial positions.
  7. Chelsea FC to proceed with £1bn Stamford Bridge plans after injunction ruling
    Chelsea Football Club has moved a step closer to starting its £1bn stadium redevelopment after Hammersmith and Fulham Borough Council used a temporary planning loophole to overturn a High Court injunction.
  8. Stenprop targets further growth after £13.5m aquisitions
    Investment firm Stenprop has set its sights on further growth in the multi-let industrial sector after completing the aquisition of three assets.
  9. Lavanda teams with Hunters to start ‘super short-term’ lettings service
    Proptech firm Lavanda has formed a partnership with UK estate agent Hunters that will enable users of the platform to manage rentals with a minimum stay of two nights.
  10. Spaces brings coworking model to Edinburgh
    IWG brand Spaces has let 29,707 sq ft of office space at the recently refurbished One Lochrin Square in Edinburgh for its first co-working hub in the city.