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Sunday, 14 April 2002

Mid-Atlantic Regional Digest (4/15/02): Ace Ltd. to Sublease 4 Floors in Philly's 2 Liberty

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April 15, 2002

Ace to sublease four floors
The Philadelphia Business Journal

PHILADELPHIA – Ace Ltd., the Bermuda-based insurance company that houses its local operations in Two Liberty Place, is vacating four of its floors – or 60,000 square feet – in the Center City tower. The move by the insurer has caused some observers to wonder whether the company is preparing to eventually vacate all of its space when its lease comes up in 2006. However, real estate industry sources close to the Ace situation dismissed that speculation and said that the company has existing space in Two Liberty where it plans to shift employees.


Apartments first at Phila. WTC
The Philadelphia Business Journal

PHILADELPHIA – Citing low demand, the developer of the Greater Philadelphia World Trade Center has decided to shelve the office portion of the project – at least for now. Meanwhile, Carl Marks & Co. Inc., a New York investment firm that plans to fund the majority of the $675 million project along the Delaware River, does anticipate breaking ground on a 532,000-square-foot residential tower by no later than this time next year. The apartment complex would be the first of four phases of a project that sits on 5.3 acres along the Delaware River at Columbus Boulevard and Callowhill Street. The three other phases – once they get done – would consist of three office towers: a 27-story, 400,000-sf building; a 44-story, 800,000-sf building; and a 44-story, 1 million-sf building.


On Capitol Hill, office project divides neighborhood
The Washington Post

WASHINGTON – The fight between the developers of Station Place and some of its neighbors is, in the details, about architecture, about land use and about big construction trucks rumbling through narrow streets at 6 in the morning. But more broadly, it is about two Washingtons. Station Place is at the frontier of these two worlds, and as such, the skirmish over its development shows what may happen in neighborhoods throughout the city as commercial growth pushes into residential areas.


Financing stalls Marriott Gateway
The Washington Business Journal

WASHINGTON – Marriott may not check into Arlington Gateway after all. The hotel giant's decision to put its 336-room hotel project on hold is a direct result of the drop in travel after the Sept. 11 terrorist attacks, says Ken Finkelstein, managing director of JBG Cos., which owns and is developing the massive $200 million Arlington Gateway project at Interstate 66 and Fairfax Drive in Ballston. JBG planned to begin construction on the hotel and a 415-unit high-rise apartment building last November. The company proceeded with the residential construction and expects it will be complete by the fourth quarter of 2003. Plans for Arlington Gateway also include a 330,000-sf office building.


ATF construction signals new life in DC redevelopment
The Washington Business Journal

WASHINGTON – Construction on the new home of the Bureau of Alcohol, Tobacco and Firearms is under way. The General Services Administration broke ground on the 295,000-sf headquarters April 10 on a barren parcel of land in Northeast Washington. The $104 million project, at First Street Northeast and New York Avenue, is one of the cornerstones of the District's North of Massachusetts Avenue, or NoMa, corridor redevelopment efforts.


South Side Works developer lands cineplex as anchor
The Pittsburgh Business Times

PITTSBURGH – At its South Side Works project where the dotted i's and crossed t's of retail tenants have often seemed elusive to obtain, the Soffer Organization has signed a 10-screen cineplex as an anchor. And downtown-based Pittsburgh Theater Corp. is beginning to be followed by other retailers and restaurants – including a first Pittsburgh-area flagship store for Max Azria's BCBG and a second location for the Seventh Street Grille.


Commercial Real Estate Direct provides links to full stories where available.


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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mid-Atlantic Regional Digest (MADIG)
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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