NEW YORK CITY-While industry watchers question the wisdom of CB Richard Ellis' ongoing negotiations to acquire Grubb & Ellis, overly zealous CBRE brokers may be monkeywrenching the job their bosses are trying so hard to complete. Sources say the firm's rumor mill has been working overtime following publication last week of an internal memo telling CBRE staff that the deal is in the bag.
NEW YORK CITY-The three city-owned parcels include 13 loft buildings and three vacant lots. The lofts will be renovated and new construction will retain the character of the historic neighborhood.
NEW YORK CITY-In its third cinematic outing, a JV of One Liberty Properties and Deutsche Bank acquires a 20-screen theater in suburban Dayton, OH for $9.7 million.
NEW YORK CITY-LMDC and the Port Authority short-list their candidates and expect to pick a winner before the first public forum on Lower Manhattan redevelopment, scheduled for Thursday evening.
NEW YORK CITY-The appraisal firm has new offices in Seattle and San Francisco up and running and is readying two locations in Mexico. The Ensenadas and Mexico City operations are the result of a partnership with a Mexico-based consulting firm.
NEW YORK CITY-One block away from a 10-acre parcel currently under development by MBD as a grocery-anchored shopping center, CBC Associates plans to construct a 12-screen movie complex and at least three retail buildings.
BEDMINSTER, NJ-The world's eighth-largest pharmaceuticals manufacturer puts its current headquarters space on the market less than three weeks after confirming reports that it has agreed to buy AT&T's sprawling Basking Ridge, NJ campus.
NEW YORK CITY-One of the largest properties in the King of Prussia, PA market is bought by sitting tenant PFPC, a subsidiary of PNC bank. The seller is O'Neil properties, also located in King of Prussia. PFPC occupies all but 30,000 sf of the building, the remainder of which is leased to ITT Technical Institute.
NEW YORK CITY-Thomas Properties purchases the 29-story Center City Philadelphia asset on behalf of the California teachers' pension fund. Ohio State Teachers Retirement System is the seller with CBRE acting as broker.
NEW YORK CITY-While the multifamily sector has weathered past economic storms with minimal damage, the recent recession has caused a supply/demand disconnect that has analysts predicting a choppy 2002 for the sector.
