Denver-based ProLogis has leased additional space at ProLogis Park 70-Etna–in development near Columbus, Ohio–to current customers at the site. The tenants are California-based Menlo Worldwide Logistics and Texas-based SpeedFC. SpeedFC will add another 158,000 square feet to arrive at a total rental of 318,000 square feet. Menlo Worldwide will expand its current rental of 311,000 [...]

Investment in commercial real estate across the globe rose $59 billion in 2007 to $759 billion, making it a record year for activity despite the dragging effect the credit crunch had on the market in the second half of the year, according to a report today from Jones Lang LaSalle. “2007 was a year of [...]

Recession? Market correction? What’s that? Starwood Hotels & Resorts Worldwide’s just-released summary of their current expansion plans shows anything but pessimism. The chain, owner of such high-profile brands as Sheraton, Westin, St. Regis and Le Meridien, currently has in the pipeline 500 hotels totaling 120,000 rooms. Its 900th hotel will open this year, and [...]

Tribune Company is making some bold moves with its real estate. In a like-kind exchange, the media conglomerate will acquire eight office properties it currently leases from TMCT L.L.C. for $175 million, relying on funds it will gain from the sale of its Tribune Studios (pictured) in Los Angeles to Hudson Capital L.L.C. for $125 [...]

The hotel industry is very likely to see declining fundamentals, but the influx of institutional investors to the sector and strong inbound international travel to the U.S. are two reasons the slowdown is unlikely to be as severe as the last industry slump, concluded a panel held at the Americas Lodging and Investment Summit that [...]

Even experts continue to disagree about the depth of the American economy’s troubles and its impact on commercial real estate. That was clear during the lively opening panel discussion this morning at CPN’s annual Philadelphia Property Opportunities conference. “I think we’re facing the abyss, and it’s principally driven by the home building sector,” [...]

NYLO Hotels, a hotel brand that saw its initial hotel opening recently in Plano, Texas, will focus its growth ambitions on secondary and tertiary markets. Expanding into major, gateway cities is just “too expensive,” John Russell, CEO of NYLO Hotels, told CPN at the Americas Lodging and Investment Summit held Wednesday in Los Angeles. “We [...]

With the expansion of the Bayport Container Terminal in the Port of Houston, the region’s industrial construction activity spiked in the past year to record levels. Now, the Port Commission of The Port of Houston Authority (PHA) has approved the addition of a new wharf at a cost of up to $74 million. Last [...]

CPN spoke this morning with Anthony Thompson (pictured), retiring chairman of Grubb & Ellis Co. and architect of the recent megamerger between Grubb & Ellis and NNN Realty Advisors Inc.CPN:What’s next for Tony Thompson? Thompson: The last ten years or so have been tremendous, but also a lot of hard work, [...]

The Water Garden, a premier office complex in the beach community of Santa Monica, Calif., has just been financed for $230 million. The loan on the 1.3 million square-foot property (pictured) was provided for owner The Water Garden Co., an entity controlled by J.P. Morgan Asset Management.Newmark Realty Capital Inc. orchestrated the financial package, which [...]