Commercial News for 10/1/14
WSJ.com: Commercial Real Estate
U.S. Office Sector Plods Ahead
U.S. office rents and occupancies inched higher in the third quarter, as a gradual improvement in the overall economy is translating into a sluggish recovery in the office sector.
News Corp to Buy Move Inc.
News Corp agreed to buy online real-estate listings business Move Inc. in an all-cash deal valued at about $950 million, expanding the media company's presence in the U.S. real-estate market.
Expectations for Rise in Rates Pummel REITs
Real-estate investment trusts posted their worst quarterly performance in a year and lagged behind the broader stock market in the third quarter as investors bet interest rates would rise over the next year.
Microsoft to Open Fifth Avenue Store
Microsoft Corp.'s first Manhattan flagship store is coming to Fifth Avenue.
Delicate Deal: One Buyer, Many Sellers
A half a century after a group of men bought real estate at the corner of Sixth Avenue and West 30th Street in Manhattan, their descendants wrestled with what to do with the property. Enter Alchemy Properties.
Sizing Up a Downtown Sale
The sale of 180 Maiden Lane surprised some analysts, but the deal for the downtown office tower makes sense for the sellers, a venture of SL Green Realty and the Moinian Group, and the buyers, a group including Murray Hill Properties and Clarion Partners.
Higher Land Prices Test Affordable-Housing Plan
In May, Mayor Bill de Blasio's administration announced that East New York would be the first neighborhood targeted for new residential towers and affordable housing. Now the area has become the subject of intense interest by developers.