Commercial News for 9/20/14
WSJ.com: Commercial Real Estate
Chinese Property Investors Bet Big Overseas
A growing number of Chinese developers are launching big projects in Western cities, such as the planned $1.63 billion transformation of an abandoned dock in London into a business park.
Home-Sales Data Belie 'Lukewarm' Market
An unusually strong reading for U.S. new-home sales in August might not be enough to kick the market into higher gear.
New York Builder Takes Vertical Leap
Related Cos. is planning a $6.5 billion project in the city of Santa Clara. Taken with two planned skyscraper projects in San Francisco and a mixed-use project in Los Angeles, the ventures show how Related is betting California is ready for denser urban development.
Plots & Ploys: News Digest
An Asian real-estate investor is acquiring the site of one of New York's most infamous diplomatic incidents. Hong Kong-listed Keck Seng Investments agreed to buy the Sofitel hotel for $272 million.
A Luxe Revival for Temple Court
The long-hidden, glass-and-iron atrium of a landmark 1880s building at 5 Beekman St. in lower Manhattan is being restored, as the office building and an adjacent lot are transformed into a hotel and condominium tower.
Gherkin Building Gets a Big Apple Push
Savills Studley and Deloitte have a team in New York marketing 30 St. Mary Axe., a London office tower known as the Gherkin for its pickle-like shape and expected to fetch around $1.1 billion.
What's the Deal: News Digest
A roundup of commercial property transactions from across the tri-state region.