California puts 11 office buildings up for sale

2010-02-26T16:00:14Z

<div id="subtitle">Cash-strapped Calif. puts 11 state office buildings up for sale to help close budget deficit</div><div><p>California has put the "for sale" sign on 11 state office buildings, including the San Francisco Civic Center and the Ronald Reagan State Building in

CB Richard Ellis pushes back due dates on debt

2010-02-22T10:20:18Z

<div id="subtitle">CB Richard Ellis extends due dates on $156.6 million of debt by swapping loan facilities</div><div><p>CB Richard Ellis Group Inc. said its lenders have agreed to push back due dates on about $156.6 million worth of debt by two years, allowing the commercial real estate company to preserve cash and strengthen its balance sheet.</p&...

Silicon Valley 'Bloodbath' Leaves Entire Office Buildings Empty

2010-02-22T20:44:10Z

<div><p> By Dan Levy </p><p> [Bloomberg] -- Silicon Valley is beset by the biggest office property glut since the dot-com bust, leaving the U.S. technology hub with empty high-rises and office parks that make it impossible for landlords to sustain average rents. </p&am...

2 former NH Circuit City properties sold

2010-02-24T06:49:18Z

<div id="subtitle">Former NH Circuit City properties sold in Manchester and Portsmouth</div><div><p>Two former Circuit City stores in southern New Hampshire have new owners.</p><p&a...

CB Richard Ellis to sell stock worth up to $300M

2010-02-24T09:51:45Z

<div id="subtitle">CB Richard Ellis files plan to sell up to $300 million worth of stock</div><div><p>Commercial real estate firm CB Richard Ellis Group Inc. on Wednesday filed plans to sell stock worth up to $300 million in a program using Bank of America SOHO China said it has agreed to buy a top Shanghai office building from US investment bank Morgan Stanley for around 2.45 billion yuan (358.7 million dollars).</p><p>The 52-storey office a...

THE MOST MEANINGFUL MEASURE: WHO HAS CASH?

2010-03-03T03:06:01Z

<div><h1> THE MOST MEANINGFUL MEASURE: WHO HAS CASH? </h1><p>The method you used to pick "The BusinessWeek 50" (Cover Story, Apr. 6)--measuring growth and return on capital--was relevant 24 months ago. Today it reads like a manual on how to succeed in selling black-and-white televisions. You left out the only meaningful measure an investor should be looking at: how...

London's Commercial Real Estate Freeze

2010-03-01T08:27:43Z

<div><p> This was the year London's skyline was supposed to be transformed by the construction of yet more signature skyscrapers. But with funding increasingly hard to come by and fears that demand for office space will continue to drop, many such projects have now been delayed or shelved. Commercial property values fell by 3.5% in January, on top of a 27% decline in 2008, according to global property adv...

CBRE on the Prowl for CBRE

2010-03-01T17:10:57Z

<div><p>CB Richard Ellis will soon begin scouring the market for office space on behalf of … CB Richard Ellis. </p><p>The mega-brokerage is looking for “something over 100,000 square feet” in which to house its midtown offices, since its current lease at 200 Park Avenue expires sometime in the next couple of years, according to

CBRE Joins Cushman, Newmark in Cutting Compensation

2010-03-01T21:18:18Z

<div><p>Dana Rubinstein in this week's print Observer broke the news that brokerage powerhouses Cushman &amp; Wakefield and Newmark Knight Frank would cut certain compensations because of the faltering economy and the dismal commercial market. It was speculated, too, that CB Richard Ellis would soon follow its ri...

'08 Greatest Hits: The Dearth of Powerful Women

2009-03-24T23:45:09Z

<div><p>We're running down some of our memorable stories from '08 today. </p><p>August 5 </p><p>Ladies of the Field: 'You Must Never Cry' </p><p>To cover commercial real estate in the year 2008 is to experience the distinct sensation that you’ve stumbled into the 1950s, or onto Staten Island. It’s a world in which men joke about “broads” at the male-mostly conference table, where spotting a ...

For strapped casino giant, sale provides sure cash

2010-03-01T02:04:29Z

<div id="subtitle">MGM Mirage’s deal to sell Treasure Island will help it pay debt, fund CityCenter</div><div><p> For some casino operators, this downturn is a fight for survival.</p><p>For a select group of entrepreneurs, it’s the chance of a lifetime.</p><p>One of them, <...

Montana Elected Chairman of REBNY's Commercial Board

2010-03-01T03:56:24Z

<div><p>William Montana of Studley got the nod as the new chairman of the Real Estate Board of New York's Commercial Board of Directors. He succeeeds Paul Massey, who has chaired the board for 10 years. </p><p&...

Henrico-based S&K Famous Brands closing 58 retail stores

2010-03-01T04:10:15Z

<div><p><p>S&amp;K Famous Brands Inc. is closing 30 percent of its 196 stores and has put its West Broad Street headquarters up for sale as it works to restructure its store base and operations.</p> <p>The Henrico County-based men's clothier would not say how many store employees would lose th...

In This Week's Observer...

2010-03-01T04:48:17Z

<div><p>Where will Manhattan's first mega-home sale of 2009 come from? We predict. </p><p>Those Corcoran-going-under rumors? Started by rivals! (Maybe.) </p><p>But Edward Lee Cave is, in all seriousness, retooling a bit. </p><p>Diddy...

CBRE, Hearst To Host Retail Holiday Party

2010-03-01T05:15:00Z

<div><p>Score! </p><p>CB Richard Ellis brokers have secured a victory in the fight to save holiday reveling from the Scrooge-like belt-tighteners atop New York City brokerages. </p><p>The firm's retail group has gotten the CB Richard Ellis announced this morning that it will join the rush of brokerages vying for the growing advisory business surrounding just what the hell to do with all of these distressed assets likely to be flooding the market sometime soon. </p><p>CBRE has dubbed its team the CB Richard Ellis report, Fifth Avenue remains the world's most expensive retail destination, with rents reaching $2,200 a square foot annually, more than 75 percent higher than in Hong Kong, the secon...

Queen Beatrix Leases Space in Rockefeller Center

2010-02-27T18:47:48Z

<div><p>The Consulate General of the Netherlands has renewed its lease in Tishman Speyer's One Rockefeller Plaza, taking 17,156 square feet on the 11th floor for 10 years, according to

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