U.S. Post Office Appoints CB Richard Ellis National Facilities Advisor
The United States Postal Service (USPS) has just awarded CB Richard Ellis (CBRE) a contract to serve as its exclusive provider of strategic corporate real estate solutions nationally.CB Richard Ellis is to provide transaction management services for USPS, including leasing and disposition. USPS's portfolio consists of approximately 35,000 facilities, totaling over 300 million sq. ft.
Historically, USPS has worked with multiple real estate service providers, including CB Richard Ellis since 1997. The new contract with CB Richard Ellis enables USPS to consolidate these activities with one service provider.
CB Richard Ellis' Brian Murphy led the USPS pursuit team, partnering with the Washington, D.C.-based Public Institutions team as well as professionals in the Denver and New York markets. John Chichester will serve as the Alliance Director for the account.
Global office markets will undergo a slow recovery, with several key markets poised to see growth continue through 2012 and 2013.
Based on preliminary data from Jones Lang LaSalle shows that grade A office rents will fall in Hong Kong and Singapore in the fourth quarter (Q4) of 2011 and will grow more slowly elsewhere in Asia Pacific. Jones Lang LaSalle's market leasing experts predict that Hong Kong and Singapore are entering a rental level correction phase, ...
SL Green Realty and The Moinian Group announced this week that one of the world's leading consolidated marketing communications companies, WPP's Young & Rubicam Group, is relocating Y&R, Wunderman and their network companies to 3 Columbus Circle. Under the agreement announced today, the Young & Rubicam Group is taking approximately 340,000 square feet ...
As India's economy shows signs of decreasing GDP growth rate, the Indian real estate industry faces its own share of concerns. Ashutosh Limaye, Head of Research & Real Estate Intelligence for Jones Lang LaSalle India tells World Property Channel that real estate developers are reeling under high debt and FDI inflows have also slowed down.
According to the U.S. Census Bureau of the Department of Commerce, construction spending during October 2011 was estimated at a seasonally adjusted annual rate of $798.5 billion, 0.8 percent (±1.6%) above the revised September estimate of $792.1 billion. The October figure is 0.4 percent (±1.9%) below the October 2010 estimate of $802.0 billion.
According to Jones Lang LaSalle's latest Global Capital Flows Report for the third quarter of 2011, four out of the top ten most traded direct real estate city markets globally in the third quarter of this year were in Asia Pacific. Hong Kong, Tokyo, Shanghai and Sydney and all made the top ten, compared to four cities in the Americas and two in Europe.
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