1101 Ocean Asbury Park

1101 Ocean, Asbury Park

10 Must Reads from the CRE Industry Today (August 20, 2015)

 

  1. iStar Sends Greetings from Asbury Park “iStar, a New York City-based real estate investment, finance and development firm is planning to transform the waterfront in Asbury Park, N.J., with a long-awaited multi-billion redevelopment that will feature new hotels and residential units.” (Commercial Property Executive)
  2. Office Vacancy Rate in Downtown Brooklyn is Insanely LowDowntown Brooklyn’s commercial office market continues to be tight, with 17 million square feet of office space occupied for a vacancy rate of 3.4 percent, according to a new report from the Downtown Brooklyn Partnership. Like the borough at large, Downtown Brooklyn continues to benefit from increased office demand.” (The Real Deal)
  3. Starbucks to Expand Puerto Rican Presence “Puerto Rico calls to many with warm weather, beautiful beaches and friendly people. The U.S. island territory is also calling to Starbucks Corp., who is answering with a new franchise deal that will significantly expand its Puerto Rican presence.” (Chain Store Age)
  4. The 10 Biggest Private Equity-Backed IPOs of the Past Decade “Petco's IPO announcement may be evidence that the private equity exit boom isn't over just yet.” (The Street)
  5. Target's Latest e-Commerce Weapon? More Precise Delivery Windows “It’s super frustrating to order something online and then be told you’ll get the item in 7 to 11 days, a pretty wide time window, not to mention a long one.” (Fortune)
  6. How American Eagle Is Moving In On Victoria's Secret: Wholesome Bras For Teens “On Wednesday, teen clothing chain American Eagle Outfitters reported record sales for the second quarter: revenues up 12% to $797 million, with profits up 17 cents a share to $33.3 million.” (Forbes)
  7. More Takeovers Seen for Small U.S. Banks as Rates Stay Low “Consolidation among U.S. banks, particularly capital-squeezed small- and mid-cap lenders, is set to rise in the next year or two due to persistently low interest rates, RBC banking analyst Gerard Cassidy said.” (Reuters)
  8. U.S. Top Country for Asian Outbound Property Investment, London Top City “Of the $19 billion of outbound property investment coming out of Asia in the first half of 2015, China leads as the largest source of Asian outbound capital, followed by Singapore and Hong Kong.” (World Property Journal)
  9. First Riverside Center Condo Complex on the Upper West Side Is a Hit “The first luxury condominiums up for grabs in the long-planned Riverside Center on the Upper West Side are selling at a rapid clip—37% of the units at One West End have been sold in less than two months, developers of the 42-story tower announced Thursday.” (Crain’s New York Business)
  10. Staples: Office Depot Acquisition Will Likely Close on Time “Staples Chairman and CEO Ronald Sargent affirmed Wednesday that the company's $6.3 billion acquisition of Office Depot is on track to close by the end of 2015.” (South Florida Business Journal)

 

 

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