Commercial News for 5/30/15
WSJ.com: Commercial Real Estate
Calgary's Office Boom Skids on Oil Slump
When crude prices were high, the commercial real-estate market in Canada?s oil capital rivaled that of Houston. Now energy companies are cutting back, vacating a record amount of space even as construction of nine major buildings is under way.
Below the Surface Lies Retail
Construction should start in about a month on a $14.5 million retail concourse named Turnstyle, two underground blocks on the corridor leading to the 59th Street-Columbus Circle subway station.
California Ruling Could Dent Building
California, a state notorious for strict environmental reviews and aggressive community activist groups, may have just gotten even tougher for developers.
Brookfield Moves Ahead With $2 Billion Tower
Brookfield Property Partners is plowing ahead with a giant $2 billion glass tower on New York City?s West Side.
In Real Estate, Branded Content Is News
Big-name real estate services firms are joining the rush of businesses into new types of marketing that blur the lines between journalism and branding.
New Luxury Projects Add to Rent Squeeze
A shift in focus by developers from moderately priced to luxury apartments in markets across the U.S. partly explains why apartment rents are climbing at a rapid pace.
Property Dynasties Team Up to Fund Miami Project
Two prominent families are digging into their pockets to finance the initial stages of a $4 billion project in North Miami. Lenders these days are remaining picky when it comes to backing land acquisition and improvement, the riskiest part of development.