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Commercial Real Estate News


Commercial Real Estate News from the Wall Street Journal

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

Commercial Property News from the Financial Times

  1. US homebuilder confidence unexpectedly dips on higher lumber costs
  2. China’s Belt and Road plans dismay Pakistan’s poorest province
    Protests reveal anxieties about the true terms of massive infrastructure project
  3. Proxy battle looms over Greek conglomerate Ellaktor
    Unusual governance structure has resulted in ‘management deadlock’ says former chairman
  4. Crest Nicholson pulls back from faltering London market
    Housebuilder ‘less likely’ to buy land in the capital as it focuses on regions
  5. USG Corp agrees to $7bn deal from Germany’s Knauf
  6. Confusion and inertia block progress over tower fire safety
    Thousands still live in unsafe buildings a year after Grenfell
  7. Carillion accounting practices gave Whitehall no sense of urgency
    Civil servants can’t be blamed for failing to see through outsourcer’s opaque methods
  8. UK construction stutters despite better weather
    PMI data show activity steadied in May but orders fell again and underlying trend looks weak
  9. Why the cracks are showing in Britain’s construction industry
    Outsourcing system risks lack of responsibility for ‘disasters like Grenfell’
  10. CRH: constructive effort
    Acquisition deals have exposed the building materials group to fast-growing markets in the US

Commercial Property News from Property Week

  1. McCarthy boss Fenton quits after issuing profit warning
    McCarthy & Stone boss Clive Fenton has revealed he is to quit, after the retirement home developer issued a profit warning following a “noticeable decline” in reservations.
  2. Countryside and Sigma to develop 5,000 PRS homes
    Countryside Properties has revealed an expansion of its strategic partnership with Sigma Capital Group that will see the two companies target the delivery of a further 5,000 private rental sector homes over the next three years.
  3. Aviva sells 20 Soho Square for £117m
    Aviva Investors has sold 20 Soho Square in London’s West End to a private European investor for a price believed to be £117m.
  4. Singapore group buys AXA’s Ropemaker for £650m
    AXA Investment Managers-Real Assets has sold Ropemaker Place, in the City of London, to a subsidiary of Singapore’s Ho Bee Land for £650m.
  5. Trio of Old Oak schemes get green light to kickstart £26bn development
    Planning permission has been granted for three developments in Old Oak that represent the first major private sector schemes approved within London’s largest designated ‘Opportunity Area’.
  6. LaSalle IM secures £95m industrial parks for GMPF
    LaSalle Investment Management has purchased two new distribution parks in the South East for £95m on behalf of Greater Manchester Pension Fund.
  7. WeWork takes major Dublin pre-let
    US investor Hines and Hong Kong-based Peterson Group have agreed a full pre-let of the office space at its new One Central Plaza scheme in Dublin to WeWork.
  8. Croydon council clashes with CNM Estates over "nonsense" affordable housing targets
    Croydon council’s head of planning Heather Cheesbrough clashed with CNM Estates chairman Wahid Samady over the London mayor’s housing policy after he said the 50% affordable homes target on public land was “a nonsense” during a panel debate at The London Real Estate Forum.
  9. Revetas & Goldman Sachs acquire TPG's €450m TriGranit portfolio
    TPG Real Estate has sold a €450m (£394.5m) portfolio of central and eastern European office assets to specialist investor Revetas in partnership with Goldman Sachs Asset Management’s vintage funds.
  10. KWE and NAMA to develop 68,400 sq ft at Capital Docks Campus
    Kennedy Wilson has secured planning permission for 68,400 sq ft of new office space at Hanover Quay in Dublin in a joint venture with the National Asset Management Agency (NAMA).