• 25Aug

    Lennox International Inc. plans to open a distribution center in Middletown.

    CRE Blog, Industrial, Universal No Comments
    Central Pennsylvania Business Journals reports that Dallas-based Lennox International Inc. will open a distribution center in Middletown, adding 31 jobs over three years, Gov. Ed Rendell announced today.

    Lennox, which manufactures and services heating, air-conditioning, refrigeration and ventilation equipment, will lease a 130,000-square-foot facility to support its operations in the northeast, the state said.Pennsylvania provided Lennox with $181,950 in incentives, including money for job training and tax credits.

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  • 24Aug

    Troubled commercial loan volume shrinks

    CRE Blog, Investment, Universal No Comments

    CRE news reports – The volume of loans in special servicing fell in July, for the first time in more than two years, to $88B from $88.4B in June, according to Realpoint.

    But because the overall CMBS universe shrunk, the percentage of loans that are in special servicing grew to 12.75% of the universe from 12.69% in June.

    A net total of 113 loans with a balance of $348.3M were removed from the special servicing rolls in July, leaving 4,585 loans in the hands of the 19 companies that specialize in working out troubled CMBS loans. While some loans were transferred to special servicing, a larger amount were resolved or worked out and transferred back to master servicing.

    To read the entire article, click here.

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  • 06Aug

    Co Star’s Commercial Repeat-Sale Indices Indicates a Pause in Investing

    Universal No Comments

    Commercial real estate pricing has been a tale of two worlds, with the largest metropolitan markets attracting significant institutional capital and forcing prices upward over the first two quarters of 2010, while the broader market has continued to soften, according to the first monthly CoStar Commercial Repeat-Sale Indices (CCRSI), produced by CoStar Group, Inc.

    This divergence may soon change, however, with the indices, compiled over the last 10 months, now indicating a pause and softening in overall investor activity, even within the primary markets for investment- or institutional-grade property.

    To read the full article, click here

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