Continue Reading Add comment July 28th, 2008
The Senate on Saturday overwhelmingly passed a landmark housing bill that will offer up to $300 billion in loans for troubled homeowners and establish a government rescue plan for mortgage finance giants Fannie Mae and Freddie Mac.
Continue Reading Add comment July 28th, 2008
Jeff Mayer, principal at McLarand, Vasquez, Emsiek & Partners, has been appointed as chair of the Urban Land Institute’s Orange County District Council. Read more »
Continue Reading Add comment July 28th, 2008
Developments that will reshape the Manhattan skyline continue to move forward by fits and starts. A joint venture of Vornado Realty Trust and affiliates of Lawrence Ruben Co. won a six-month extension on a deadline that is central to plans for a 1.3 million-square-foot office tower that would rise above the Port Authority Bus Terminal in Midtown Manhattan. Port Authority of New York and New Jersey, granted the extension to allow the joint venture, 20 X Square Associates L.L.C., to wrap a 99-year lease for redevelopment of the terminal’s north wing. The extension will also allow for a transaction to lease, renovate and manage retail space in the terminals’ south wing. Read more »
Continue Reading Add comment July 28th, 2008
Three Cushman & Wakefield reports covering New Jersey office and industrial markets depict a state that’s for the most part mirroring the national commercial real estate scene’s uncertainties, ambiguities and contradictions. In northern New Jersey, overall office vacancy rates are currently 16.2 percent, which is up 0.2 percentage points since the first quarter. Office leasing activity is down 43 percent from the first quarter. The central New Jersey office market is broadly similar. On the industrial side, the bad news is jobs and the good news is high-tech space and the Port Region. Read more »
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