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CB Richard Ellis has gotten the nod to be the exclusive leasing agent for the Hearst Tower's last two bits of retail space. The bits cover 14,720 square feet at Eighth Avenue and 57th Street. CBRE snagged the assignment from archrival Cushman & Wakefield. Release follows: read more »

Waterfront Dubai Balli Real Estate Ltd, the UK and UAE based investor-developer, have launched their new website to showcase the company’s brand, services and its $3.5 billion property investment and property portfolio on the internet.

Greenock Capital is executing a green renovation of the historic two-story Risk Building at 535 Springfield Avenue in Summit, New Jersey. The building dates from 1873 and is named for Dr. William H. Risk, a medical doctor who settled in Summit that same year.

A joint venture between Taurus Investment Holdings and DivcoWest has purchased two office buildings in North Reading for an undisclosed price from Teradyne, Inc. The deal was brokered by Dave Pergola and Mark Reardon of CB Richard Ellis‘ New England office.

We’ve written about 1095 Sixth Avenue previously; the tower, owned by the Blackstone Group, sits across 42nd Street from LEED Platinum hopeful Bank of America Tower and is undergoing a two-year, $408.9 million renovation.

Tampa Bay Business Journal Blumberg Property Fund LP sold its three-story office building at 550 N. Reo St. in the Westshore Business District for $9.3 million, or about $122 a square foot. Blumberg Capital Partners, based in Coral Gables and one of Florida’s largest institutional real estate investment managers, had owned the Class B building for more than a decade.

With the large number of downtown building projects under construction, planned, or pending, there are not too many open lots awaiting development. Now, an important new site is about to hit the market just a block from the prime 6th & Congress intersection.

Hurricane Ike swept through Houston early on the morning of September 14th and left a path of $18 billion in damages, the third costliest storm in US history. Prior to Ike, Houston’s office market was reporting encouraging numbers: according to a CB Richard Ellis report, Houston’s office market

Image via Wikipedia I watched Peter Schiff today talk about Bank of America and the purchase of Merrill Lynch. What we are witnessing in the financial markets is the house of cards collapsing… one on top of the other.

Image via Wikipedia U.S. commercial real estate prices are likely to tumble over the next 12 to 18 months as more borrowers default on their loans and regulators crack down on banks, pushing even more properties onto the market.