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Commercial Real Estate News


Commercial Real Estate News from the Wall Street Journal

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

Commercial Property News from the Financial Times

  1. Galliford Try to raise £150m as it takes hit after Carillion collapse
    UK construction group seeks to soothe investors after shares plunge 20%
  2. Carillion collapse prompts Galliford Try to cut dividend and raise capital
    Shares plunge 16% in early London trading
  3. Carillion boss says board should have asked more questions
    Keith Cochrane quizzed by MPs over collapse of UK’s second-biggest construction group
  4. Ex-Carillion chief admits board should have asked ‘more probing questions’
    Keith Cochrane says he ‘absolutely’ wishes ‘we’d done something sooner’
  5. Private equity designs on Carillion expose uncomfortable parallels
    The buyout approach to business is not hugely different to that of many outsourcers
  6. Opening Quote: Monarch owner circles Carillion, Tesco’s new co-pilot 
  7. Greybull circles Carillion assets
    Former Monarch Airlines owner looks at potential acquisitions from collapsed outsourcer
  8. UK construction activity slows in January, PMI survey shows
    Reduction in projects combines with Brexit uncertainty in difficult start to 2018
  9. Redundancy for 377 Carillion staff after collapse
    Over 900 jobs saved after workers transferred to other contractors
  10. SIG shares drop after discovery of ‘intentional’ accounting misstatements
    Whistleblower reports irregularity in core UK business

Commercial Property News from Property Week

  1. M&G closes first value-add fund at £125m
    M&G Real Estate has completed an initial close of its first value add fund – the M&G UK Enhanced Value Fund (UKEV) – with investor commitments totalling £125m.
  2. Hammerson set to crash out of FTSE 100
    Retail giant Hammerson is set to fall out of the FTSE 100, following a sharp fall in its share price in the wake of its agreed takeover of rival Intu in December.
  3. Ex-HSBC quartet launch new firm with $550m backing
    Four former leading members of the real estate team at HSBC Alternative Investments have set up a new property investment company with $550m (£391m) of assets and new capital from Woodman Group.
  4. Patrizia doubles AUM after successful 2017
    Patrizia Immobilien has reported strong results for 2017 after exceeding its earnings forecast.
  5. TH Real Estate provides debt for £315m City deal
    TH Real Estate has provided financing to Korean investor Samsung SRA Investment Management for the £315m acquisition of 200 Aldersgate in the City of London.
  6. Green light for Dar's eco-friendly debut combined UK HQ
    International consultancy Dar Group has received the green light to build a new 185,000 sq ft mixed use eco building at 150 Holborn as the company looks to grow its business in the UK.
  7. Escape Hunt signs in Bristol and Birmingham
    Leisure operator Escape Hunt has signed up for new sites at Hammerson’s Cabot Circus in Bristol and Martineau Galleries in Birmingham.
  8. Hughes joins iQ as chair
    Student accommodation specialist iQ has appointed former Coca-Cola Great Britain and Ireland president Penny Hughes as non-executive chair.
  9. Watkins Jones acquires Bath office site for £26.5m
    Europa Capital and Ediston Real Estate have sold the Pinesgate office redevelopment site in Bath to Watkin Jones & Son for £26.5m.
  10. Deka makes €190m office buy for record Finnish deal
    Fund manager Deka Immobilien has acquired a multi-let office building in Helsinki from Finnish pension-insurer Ilmarinen for €190m (£168m) in the largest ever office transaction in the Finnish market.