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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. Lack of political support doomed Carillion
    Bankruptcy of UK’s second-biggest construction group could push subcontractors to fail
  2. Private equity investors circle collapsed Carillion
    UK construction group attracts interest from bidders seeking cheap distressed assets
  3. Carillion collapse offers warning to dividend fetishists
    Payouts on its own are not a sign of good management or corporate health 
  4. Carillion’s collapse: risk and failure
    The construction company’s failure will be felt beyond Britain. What signs were missed?
  5. Carillion begged UK government for £150m loan
    Collapsed contractor argued short-term financing would secure new investors
  6. Banks to set up funds to help businesses hit by Carillion collapse
    HSBC, RBS and Lloyds to set up funds worth a combined £225m
  7. Opening Quote: Shh, don’t tell Jeremy – private-sector company actually delivers
  8. Skanska warns on profits and looks to axe 3,000 jobs
    New chief announces shake-up to tackle troubles at Swedish construction group
  9. Opening Quote: Outsourcing concerns spread to Interserve
  10. Interserve under government watch over financial health fears
    Collapse of Carillion raises concerns on UK outsourcing industry

Commercial Property News from Property Week

  1. GVA separates from Apleona as Mottram is appointed chairman
    GVA has separated from facility management firm Apleona and Andy Mottram, a former member of JLL’s EMEA board, has been appointed chairman.
  2. British Land poaches new CFO from Logicor
    British Land has appointed Simon Carter chief financial officer (CFO).
  3. DWP signs at Atlantic Quay
    Moorfield and Resonance Capital have completed their 85,000 sq ft letting to the Department for Work and Pensions (DWP) at 1 Atlantic Quay in Glasgow.
  4. BidX1 enters UK market with Andrews & Robertson acquisition
    Irish auction house BidX1 has acquired property auctioneers Andrews & Robertson in a deal which will see the company’s online platform offered to UK clients.
  5. Royal London buys East Grinstead trading estate for £65m
    The Royal London Pension Property Fund has bought The Birches Trading Estate in West Sussex from Ropemaker Properties for £65m, reflecting an initial yield of 4.66%.
  6. Salamanca Group appoints head of real estate
    Simon Heilpern has been appointed by Salamanca Group to lead its real estate team, advising clients across the UK and Europe.
  7. Strong final quarter for Glasgow office deals
    Glasgow’s office market saw a bumper final quarter of 2017, with a flurry of deals pushing annual take-up to 631,814 sq ft, according to research by CBRE Scotland.
  8. Wallace Cotton to pop-up in Covent Garden
    Kiwi interiors brand Wallace Cotton is to make its first foray into the UK with a pop-up store at 7-8 Langley Court in London’s Covent Garden.
  9. Ealing gives go ahead to 283 homes
    A2Dominion has secured planning permission for a £130m residential development in west London.
  10. Countrywide shares plummet on profit warning
    Shares in estate agent Countrywide plummeted more than 18% to 110.4p on Thursday following a profit warning from the UK’s largest estate agent group.