“Expect victory and you make victory.”
– Preston Bradley
May 6, 2015 Elaine Misonzhnik and Susan Piperato
- RXR Realty Buys NYC’s Helmsley Building for $1.2 Billion“Developer Scott Rechler’s RXR Realty purchased the Helmsley Building, a landmark office tower on Park Avenue just north of Grand Central Terminal in Manhattan, for $1.2 billion. RXR bought the 1.4 million-square-foot (130,000-square-meter) skyscraper from a joint venture of Invesco Ltd. and Monday Properties, Rechler said in a telephone interview Tuesday.” (Bloomberg)
- Host Hotels Struggles with Aging Properties“Host owns many older, full-service hotels and is light on popular limited-service and boutique properties, which tend to be especially design-conscious and appeal to younger travelers, says Ryan Meliker, a hotel analyst for investment bank MLV & Co.” (The Wall Street Journal)
- Proposed Grand Central Tower Clears Final Major Hurdle“SL Green Realty Corp.’s 1,400-foot-tall commercial tower proposed for an entire city block across the street from Grand Central Terminal was approved with some modifications Tuesday by a key City Council subcommittee, which also gave the green light to double the maximum size of buildings on four other blocks to the west of the transit hub.” (Crain’s New York Business)
- Wall Street Sway over Rental Boom Makes Landlords Prey“A pioneer in the U.S. home-rental boom that grew out of the housing bust is becoming a takeover target. American Residential Properties Inc. built up a portfolio of about 9,000 houses worth $1.3 billion over seven years. Now, the Scottsdale, Arizona-based landlord is running out of options to raise money for more purchases.” (Bloomberg)
- Hide and Seek“Institutional lenders have taken careful steps to protect themselves against developments and acquisitions gone wrong, especially when dealing with offshore guarantors. But one aspect of the global real estate exchange remains a gamble: How to deal with guarantors who stash money in foreign property when their construction projects or acquisitions come up short?” (Commercial Observer)
- In Stinging Defeat for Google, LinkedIn Scores Lion’s Share of Real Estate Capacity in Mountain View’s North Bayshore“LinkedIn Corp. came away the clear victor late Tuesday in a pitched battle with neighbor Google Inc. and real estate developers for building rights in Mountain View’s North Bayshore district. The question now: What does Google do next?” (Silicon Valley Business Journal)
- Platinum Plan: New York’s Hospitals’ Evolving Real Estate Portfolios“On Manhattan’s East Side, NYU Langone Medical Center is undertaking an exacting project by any measure; the hospital is building a state-of-the-art care pavilion and energy building that will provide primary electric service to the campus. It is also renovating its existing Tisch Hospital, all at a cost that exceeds $2 billion.” (Commercial Observer)
- Tech Firm Stripe Signs Largest San Francisco Market Lease of 2015“Stripe, Inc., a web and mobile payment software developer, has signed the San Francisco market’s largest lease of the year, taking all 300,000 square feet in a project under development by Alexandria Real Estate Equities (NYSE: ARE) at 510 Townsend St.” (CoStar News)
- Freddie and Fannie to Review CEO Salaries“The Federal Housing Finance Agency, which oversees Freddie Mac and Fannie Mae,will allow the two companies to review the compensation of their chief executives, Donald Layton and Timothy Mayopoulos. Both CEOs last year earned $600K excluding bonuses, a pay level that some fear isn’t competitive enough to attract and keep the best and the brightest.” (Bisnow)
- Big Names in New York Real Estate Figure into Skelos and Silver Cases“Real estate executives have long said that they contribute heavily to state and city legislators’ election campaigns in the hopes of gaining access to those who make policy in a state where tenants hold considerable voting power. But the criminal cases describe behavior that goes beyond mere campaign donations and lobbying.” (The New York Times)
I am actively looking to build relationships with Real Estate Investors and Owner / Users for Phoenix – Scottsdale – Tucson – Maricopa County – Pima County – Pinal County – Cochise County – Santa Cruz County –Yavapai County – Gila County – Arizona , USA
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
1
Timeline of Phoenix, Arizona history
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
2
http://en.wikipedia.org/wiki/Phoenix,_Arizona
3
Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix.
1-520-975-5207
View my listings and my profile at:
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Investors and owner/users need to really know the market before making a move in commercial investment properties as the market has a lot of moving parts today. What’s going on socio-economically, what’s going on demographically, what’s going on with location, with competing businesses, with public policy in general — all of these things affect the quality of your commercial properties/investment properties. Therefore, you need a broker who understands commercial properties. Please go to my web-site and get all the newsflashes and updates in Commercial Real Estate.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554
Thank You
Walter
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Cell: 520-975-5207
Office : 480-948-5554
Fax: (480-658-1172
View my listings and my profile at:
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a little about me and my expertise – video
commercial-investment real estate adviser-land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
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