Tuesday, May 14, 2013

Office Towers Rising Again In New York, San Francisco




National Commercial Real Estate News From CoStar Group





Office Towers Rising Again In New York, San Francisco



The recent emotion-filled topping off of One World Trade Center with a 408-foot silver spire provided a visceral reminder for New Yorkers and others around the world of the pending rebirth of the iconic building in 2014.

1 WTC, under development by the Port Authority of New York and New Jersey on behalf of the Durst Organization, is now a symbolic 1,776 feet tall, preleased to tenants such as the U.S. General Services Administration, Conde Nast...









CoStar's People of Note (May 5 - 11)



This week's People of Note includes the following markets: Los Angeles, Minneapolis, Washington DC, New Jersey, Chicago, New York, and Indianapolis.

LOS ANGELES
Diaz Returns to Cushman & Wakefield
By Allison Smith

Lalo Diaz has returned to Cushman & Wakefield, Inc. as a market leader for the Downtown Los Angeles market. In his new role Diaz will be responsible for overseeing day-to-day activities, recruitment goals, an









ConocoPhillips Strikes Deal To Lease 850,000 SF In Pair of New Energy Corridor Office Buildings



ConocoPhillips has committed to the biggest office lease signed in Houston so far this year, agreeing to occupy 850,000 square feet in a pair of new office buildings to be built in Houston's booming Energy Corridor by Trammell Crow Co. (TCC) and its financial partner, Principal Real Estate Investors.

The oil and gas exploration firm agreed to fully occupy Energy Center Three, a 550,000-square-foot office tower currently under construction and scheduled...









Industrial Real Estate Investors Lining Up to Tap Improving Warehouse Market



With demand expected to outpace supply through 2014 and rents finally beginning to rise again, commercial real estate investors are increasingly interested in placing capital in the U.S warehouse sector.

"If you look at which sector will be the next for capital to flow, industrial is a very good bet," said Rene Circ, director of industrial research for CoStar's Property and Portfolio Research (PPR) who with Senior Economist Shaw Lupton presented...









Colony American Home Files IPO To Roll-Up Ownership of Single-Family Homes



Having stoked a strongbox with about $2.2 billion in privately raised funds, fast-growing Colony American Homes Inc., is planning an initial public offering of common stock to raise at least $100 million more.

The Santa Monica, CA-based owner of single-family rental property is being spun-off into a real estate investment trust by Thomas Barrack's Colony Capital.

Colony American was one of the earliest entrants into the single-family residential...









Multifamily GSE Lending Reform: Potentially Disruptive and Inherently Valueless



Without some form of government guarantees, the multifamily lending businesses of Fannie Mae and Freddie Mac have little inherent value, so conclude Fannie Mae and Freddie Mac in reports prepared for their conservator, the Federal Housing Finance Agency (FHFA) and released this week.

The reports further conclude that the sale of these businesses would return little or no value to the U.S. Treasury or taxpayers, while potentially being highly disruptive...






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