Indian Express (02/22/12)

Cushman & Wakefield dropped Mumbai's Nariman Point from its list of the top 10 global commercial rentals for the first time in six years. The commercial business district, which previously ranked as the No. 8 most expensive office space locale in the world, has now slipped to the 15th position. According to Cushman & Wakefield, Nariman Point saw rentals depreciate by 8 percent over the past year. By contrast, most other cities in the United States, Europe, and the Asia-Pacific region have seen their rents rise. According to the rankings, Hong Kong,... More

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Citybizlist Philadelphia (02/22/12)

Liberty Property Trust this week promoted Brian Cohen to City Manager of the REIT's Philadelphia portfolio. In his new position, he will manage development and oversee the leasing and property management of the company's properties throughout Philadelphia. Cohen, who has served on the boards of such organizations as CoreNet and the National Association of Industrial & Office Properties (NAIOP), joined Liberty Property Trust in 2001 as director of market research. Two years later, he transitioned into the REIT's acquisitions group where he was... More

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Real Estate Alert (02/22/12)

Tishman Speyer is currently pitching a 701,000-square-foot office tower in downtown Los Angeles as a rare opportunity to purchase a trophy property with upside potential. Located in the Bunker Hill district, 400 South Hope Street is currently just 80 percent leased after losing some tenants during the downturn. That is well below the district's 88.7 percent occupancy rate for Class-A space. Analysts say bids could top the $255 million mark. Tishman acquired the 26-story building in 2005 from the retirement plan of the main tenant, law firm... More

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