In the News

In the News

Hawaii Adopts CRE Appraisal Law

July 31, 2011    

Hawaii Senate Bill 975, which introduces new stipulations concerning the way in which leasehold land rent negotiations are determined, was passed into law on July 12. The bill was originally vetoed by former Gov. Linda Lingle, but current Gov. Neil Abercrombie let the bill through, as expected...

Roundtable Forum Plans Greener Tomorrow for Retailers

June 30, 2011    

Commercial real estate owners and developers and retail tenants collaborated on solutions to overcome barriers to building sustainable retail projects, at a recent retail roundtable forum in the nation's capital.

Bronx Gets Unexpected Benefits from Corporate Park in Progress

June 30, 2011    

In 2001, Joseph Simone, the president of New Rochelle, N.Y.'s Simone Development Companies, bid $3.7 million at a state auction for an undeveloped 18.5-acre tract in the Bronx—surprising many who thought of Simone, whose business is family owned, as a wise businessman. The tract was...

Seasonal Stores Threaten Summer Spots' Local Tenants

June 30, 2011    

Summer resort communities have a challenge when it comes to maintaining a vibrant town: how to retain their local character when tourists arrive for the high season. An influx of visitors may be good for sales during the summer, but when they leave, busy summer spots can turn into ghost towns...

Tenant Off Hook for Roof Replacement

May 31, 2011    

If a commercial building owner expects its tenant to replace a roof, the owner needs to specify it in the lease, the Arizona Court of Appeals recently ruled. With 16 months remaining on the lease, strip mall owners asked their restaurant tenant to replace the mall's roof, even though it had...

CRE Industry Not Prepared for Lease Accounting Shift

March 19, 2011    

As early as June 2011, the draft of new lease accounting standards proposed by the Financial Accounting Standards Board (FASB) could be finalized—requiring commercial property owners and tenants to fundamentally change how they account for real estate and equipment leasing transactions....

Post Office Cutting Locations to Close Deficit

February 11, 2011    

One of the country's largest commercial real estate tenants is considering a plan to close about 2,000 of its branches. The United States Postal Service (USPS) hopes that the closures will help it reduce the $9 billion annual deficit of its operating costs.

The proposed new closures...

Rising Vacancies to Benefit St. Louis Tenants

February 8, 2011    

An absence of new construction in 2011 will help the St. Louis region's office market begin to recover from its deep recession, according to a forecast of market behavior in major cities that was released by Calif.-based commercial real estate company Grubb & Ellis. The annual report for...

Tenants Take Bite Out of Big Apple Office Market

February 2, 2011    

New York CRE experts say that tenants are gaining the upper hand when it comes to leasing space in the city's most exclusive office towers. Tenants that were fighting both rising rents and competition for sought-after buildings in the first half of 2011 are now increasingly being offered...

A&P Stores to Remain Open Despite Bankruptcy

December 27, 2010    

The U.S. Bankruptcy Court for the Southern District of New York granted The Great Atlantic & Pacific Tea Company, Inc.'s (A&P's) request for “first day orders” that would allow the bankrupt grocery chain the authority to pay its employees’ salaries and wages and...

Doctor Offices Drift from Hospitals to Malls

November 17, 2010    

Shopping centers could be the new doctor's offices, according to predictions made by commercial real estate experts at a medical office buildings event in Scottsdale, Ariz. The event was filled with references to how the medical office sector will soon look a lot more like the retail real...

Dine-In Theater Could Become Main Attraction

October 31, 2010    

AMC Entertainment Inc. is expanding its successful dine-in movie concept on the West Coast—through outsourcing. The second largest movie theater chain in North America has hired Jones Lang LaSalle (JLL) Corporate Retail Solutions to choose its new AMC theater sites in California and...