Property Group is planning to develop 2.2 million square feet of mixed-use space
After years of battles, Washington may finally realize a decades-old desire to rejoin two downtown neighborhoods with a $1.3 billion project on a platform over a stretch of Interstate 395.
City officials say they hope to close in the next 60 days on the sale of six embattled acres of land and air rights to Property Group Partners, a developer that owns or manages about three million square feet of office buildings, mostly in Washington. Property Group is planning to develop 2.2 million square feet of mixed-use space, mostly office with some retail and housing.
http://online.wsj.com/article
Showing posts with label Space. Show all posts
Showing posts with label Space. Show all posts
Thursday, February 23, 2012
Tuesday, July 19, 2011
U.S. Retailers Shop for Space in Europe
NNN Lease Market News
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
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