$657M Settlement Reached With WTC Rescue Workers

The WTC Captive Insurance Company on Thursday announced that a settlement has been reached with attorneys on behalf of more than 10,000 plaintiffs claiming injuries related to the rescue, recovery, and debris removal operations in the wake of the 9/11 terrorist attacks.

Fitch Says Silverstein in “Imminent Default” on $325M Loan Balance

A $325 million loan balance on developer Larry Silverstein’s property, 575 Lexington Avenue in Manhattan, was transferred to special servicing earlier this week, which Fitch Ratings says is due to imminent default.

Colliers: Seaport Industrial Property Markets Face Mixed Recovery

The nation’s most active export-focused ports are enjoying stabilizing industrial occupancy rates, according to a new white paper from Colliers International.

Insights from MBA: Dave Hendrickson

Jones Lang LaSalle’s Dave Hendrickson talks from the MBA-CREF conference about the commercial and multi-family acquisitions market.

Transition Year

The office vacancy rate is nearing its peak for this cycle, but the market will remain soft in 2010, according to Josh Scoville, director of strategic research for PPR, a CoStar Group company.