Updates in the world of Commercial Real Estate
U.S. commercial real estate prices climbed 4.3 percent in September from the previous month, according to the Moody’s/REAL Commercial Property Price Indices (CPPI). That’s the largest one-month gain in the index’s nine-year history, and is encouraging for a market that has wrestled with deflated property values for nearly three years now. Yet experts debate whether […]
Miami Lakes-based LeaseFlorida had the winning bid to purchase a downtown Miami office building for $2.5 million. The 84,382-square-foot building, at 28 W. Flagler St., was previously owned by Brooklyn-based Mihato Realty, which lost a $5.1 million foreclosure in September. Clearwater-based Intervest National Bank had a $4.4 million mortgage on the property. Alan I. Waserstein, […]
With much of the hotel industry misfiring like Mark Sanchez under the Monday night lights, the Westin Copley Place’s relative financial strength is worth noting. The hotel was highlighted in a recent Moody’s Investors Service report on a $1.9 billion portfolio of commercial mortgage-backed securities (CMBS) arranged by a Bear Stearns affiliate in 2005. As […]
Atlantic Wharf, with its stunning 31-story glass tower on Congress Street opposite the Federal Reserve building, is nearing completion – and a sneak peek inside reveals that it’s been worth the wait. The $500 million office and residential complex offers 550,000 square feet of waterfront space. Floor-to-ceiling windows throughout the mixed-use project offer sweeping views […]
The local outlook on the beat-up commercial real estate sector may have improved slightly, according to a new survey devised by the University of St. Thomas. The index, based on a poll of 50 commercial real estate leaders in the area, registered 54.1, up slightly from 53.5 last spring when the index was first released. […]
CAMBRIDGE, MA—A prominent 65,000-sf office/retail building has changed hands for $18.9 million. Owned for the past decade by Paradigm Properties, 1030 Massachusetts Ave. is located on the edge of Harvard Square in the city’s tight mid-Cambridge district. Calls to Paradigm principals were not returned by press deadline, while efforts to contact the buyers were also […]
Accounting firm MarcumRachlin has leased 7,000 square feet at CityPlace Office Tower in downtown West Palm Beach. The firm’s West Palm Beach office will relocate in August from Phillips Point to its new seventh-floor CityPlace digs. “We feel there’s great value to the office tower’s central location and direct access to CityPlace,” said Larry Blum, […]
The Town of Westwood is suing Commonfund Realty Investors and the former development entities overseeing the massive Westwood Station project, accusing the group of ignoring its financial obligations in the repair and restoration of public roadways damaged during preliminary construction. But there are questions as to whether Commonfund Realty Investors, a real estate fund run […]
BOSTON – Skanska USA Commercial Development in Boston announced that it has closed on the development rights to build an already permitted 120,000-square-foot lab/R&D project in Cambridge. The project at 150 Second Street (www.150second.com) is located in the heart of the Kendall Square’s world-leading biotech cluster and will consist of a three-story building with underground […]
