Commercial News for 7/29/14
WSJ.com: Commercial Real Estate
Condo Builders Fuel Land Rush in Miami
Cash-paying buyers from abroad are moving to snap up what remains of the city's dwindling supply of prime unbuilt sites, driving values of undeveloped plots to record levels.
Maine Hotel Raises the Bar
From the 15th floor of the new Westin hotel in Portland, Maine, the highest point in the city, the view looks pretty good for a pair of hotel investors who completely remade the nearly century-old property.
Builder Warms Up to History
A funny thing happened to Toll Brothers as the development firm prepared to market its new luxury condominiums on Park Avenue: It discovered the virtues of New York City's historic districts.
A Power Surge in the Rust Belt
General Electric cut a deal with county and city officials to move a number of operations?including human resources and finance?to a new $90 million facility in downtown Cincinnati on the banks of the Ohio River.
New Lenders Enter Property Market and Think Small
As the economy improves, lenders see loans for smaller properties as less risky. And with less competition, interest rates and potential profit can be higher.
Plots & Ploys
Money from China has been a top driver of some housing markets, especially in coastal cities such as San Francisco and Los Angeles. But that spigot may soon tighten.
Queens Project Stirs Worry That Residents Will Be Priced Out
New York City Mayor Bill de Blasio's affordable-housing ambitions are being tested by the first major project he has shaped from its early stages, a 2.2-million-square-foot development on the Queens waterfront that is raising fears of Brooklyn-style skyrocketing rents.