Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 23 April 2002

Mid-Atlantic Digest (4/24/02): Demolition Kicks Off New Philly Office Tower

Written by 
Rate this item
(0 votes)
April 24, 2002

Clearance of Philly office tower site under way
The Philadelphia Inquirer

PHILADELPHIA – Philadelphia's next skyscraper got closer yesterday toward an August groundbreaking. A backhoe began knocking down the first of several buildings on the site, next to Suburban Station at 17th Street and John F. Kennedy Boulevard. Liberty Property Trust will develop the 52-story office tower. The demolition work served as a backdrop for a noon ceremony, hosted by Willard G. Rouse 3d, Liberty chairman, at which Mayor John Street signed an ordinance cutting the city wage and business gross-receipts taxes.

New franchise deals boost Choice Hotels' earnings
The Baltimore Business Journal

SILVER SPRING, Md. – Hotel franchisor Choice Hotels International Inc. has reported that income was up 16 percent in the first quarter. The company said earnings were $8.6 million, or 20 cents per diluted share, for the period ending March 31. For the first quarter last year, earnings were $7.4 million, or 16 cents per diluted share. Royalty revenue collected from franchisees was down because of slower hotel room rentals, but new hotel openings perked up total revenues 12 percent to $75.3 million, compared to $67.2 million a year ago. Choice Hotels inked 59 new hotel franchise deals in the quarter.

New Ferguson HQ under way in Newport News, Va.
The Virginian-Pilot

NEWPORT NEWS, Va. – Ferguson Enterprises Inc. has begun construction of a $20.5 million headquarters near the entrance to Newport News/Williamsburg International Airport. Ferguson is the nation's largest wholesale distributor of plumbing, heating and air-conditioning supplies. The 150,000-square-foot, five-story office building will be completed next spring in the Patrick Henry Commerce Center. Ferguson's current headquarters is next door to the 13-acre site where the new office will be built. That building is about six years old and had been projected to serve as its headquarters for at least 10 years, but Ferguson outgrew it faster than expected.

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


“The Weekly”

“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:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mid-Atlantic Regional Digest (MADIG)
Read 552 times

Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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





  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds