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You must enter the verification code below to send. Invalid entry: Please type the verification code again. 133 million deal for the upper portion of ABC Carpet’s flagship store is an example of office space edging into territory that once was retail’s domain. Want to Buy a Luxury Hotel in the U. Try China’s Insurance Regulator When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago. New York’s Commercial Property Slump Shows Signs of Slowing After a two-year plunge, brokers are optimistic that more deals will take place in 2018.

NYC Council Stops Midtown Tower Construction Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area,. Now They Court Them Mall owners long treated gyms, massage parlors, and billiards halls as unwanted tenants that attracted lower-rent visitors who were unlikely to shop. Now they’re giving health clubs some of their best real estate. New Jersey Office Rents Near Records Asking rents for New Jersey office space are nearing records as landlords undertake extensive renovations and fill older properties with top-notch amenities. 8 billion offer to acquire the shares of mall owner GGP Inc. South Asian customers from Maine to Maryland.

NYC’s Pearl River Mart Will Expand to Chelsea Market Pearl River Mart, once a casualty of skyrocketing retail rents, is planning to open another 3,500 square-foot store at Chelsea Market in Manhattan. Office Spaces Focusing More on Communal Areas Businesses are beginning to design offices spaces that are increasing the amount of square footage per employee when shared work settings are taken into account. Chocolate Giant Ferrero to Look for Innovation at Cornell Tech Ferrero, Italian manufacturer of sweets and chocolates, is setting up an innovation outpost at Cornell University’s technology campus on Roosevelt Island in New York City. Shortage of Industrial Space on Long Island Squeezes Tenants Long Island’s shrinking industrial space has placed expanding tenants in a tough spot, forcing them to look east to Suffolk County and off the island entirely, according to real-estate services firm JLL.

Supermarkets Face a Growing Problem: Too Much Space A massive build-out by retailers has left the country piled up with grocery shelves as consumers shift from big weekly shopping trips to more snacking and to-go meals. Excuse Me, You’re Blocking My Sun Australia’s rapid embrace of rooftop panels—now installed on one in four homes in some areas—has collided with another hot spot of investment, construction of apartments and homes. 1031 Exchange Real Estate Tax Break Faces Extinction A much-loved tax advantage in the commercial real-estate industry is on the chopping block even as chances dim for the passage of a broad federal tax overhaul this year. Mall Tenants Play Hardball In Lease Negotiations Retailers, food and beverage operators and department store chains looking to renew their leases have been asking for more allowances from mall owners.