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Real Estate and Development

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Downturn hurts government’s effort to unload properties

The economic downturn has made it more difficult for the federal government to sell real estate, The Wall Street Journal reported.

The General Services Administration, or GSA, which manages approximately 380 million square feet of …

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DCA launches EcoCore

The Downtown Community Alliance (DCA) last week officially unveiled EcoCore, a new program designed to give environmentally conscientious owners of office properties a competitive edge in the marketplace.

Glenn Lyons, the DCA’s president and CEO, …

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LEED projects surpass 1 billion

More than 1 billion square feet of commercial real estate have been certified under the Leadership in Energy and Environmental Design (LEED) program, the U.S. Green Building Council announced last week. Since LEED’s inception in …

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Commercial construction backlog declines

The amount of commercial construction work under contract in September declined 3.3 percent from August, Bloomberg reported. But there is still 6.7 months of work in the commercial construction pipeline, which is well above the …

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China’s big banks suspend credit

China’s big banks have stopped lending as the government works to quell an investment boom and surging home prices, Bloomberg reported. Citing China Real Estate Business, Bloomberg said the country’s top four state-owned lenders suspended …

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Altoona will chip in for Adventureland drainage work


The Altoona City Council approved an agreement that will direct annual payments to Adventureland Amusement Park for the next five years as compensation for sewage and stormwater retention improvements made by the company on its …

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Meredith Corp. signs a lease for nine floors in Manhattan


CoStar Realty Information Inc. reported that Des Moines-based Meredith Corp. signed a lease for 212,594 square feet on nine floors at 805 Third Ave. in New York City. The 31-story, 615,000-square-foot Manhattan office building opened …

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Real estate’s bright side


Remove the adjective “toxic” from commercial real estate.

So says Kelly Rush, head of global property securities for Principal Global Investors LLC, who noted recently that even during the darkest days of the reorganization of …

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George Sherman shares plans for future projects


Sherman Associates Inc. has identified two more properties in downtown Des Moines that it would like to convert into living spaces.

George Sherman, who founded the Minneapolis-based commercial real estate company in 1991, was in …

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General Growth exits bankruptcy, spins off new company

General Growth Properties Inc. has emerged from bankruptcy and split itself into two companies, Bloomberg reported.

The company said it spun off Howard Hughes Corp., an owner of master planned communities and other properties, which …