Commercial real estate
* SL GreenRealty Corp. said it closed on $1.5 billion in construction for the One Vanderbiltproject in Midtown Manhattan, N.Y. The project will span an entire blockadjacent to the Grand Central Terminal, and is expected to complete in 2020.
The company also said it leased 308,115 square feet at the News Buildingat 220 E. 42nd St. in Manhattan to Visiting Nurse Service of New York for itsheadquarters.
* Drug developer AstraZeneca PLC will occupy 163,000 squarefeet of space at HCPInc.'s The Cove atOyster Point development in South San Francisco, the San Francisco Business Times reported.The second phase of the life science project is presently under construction,and the tenant is expected to occupy the space in the fourth quarter of 2017.
* The Wall StreetJournal featured a reporton mall landlords' unusual move of rescuing struggling retailers in an effortto stave off vacancies and store closings. The publication pointed out thatSimon Property Group Inc.and General Growth PropertiesInc. "are stepping out of their comfort zones" to avertthe liquidation ofAéropostale Inc., whichwould have left them with more than 200 vacant stores.
* Japan-based Toyoko Inn filed plans for a 50-story hotel inthe Long Island City neighborhood of Queens, N.Y., The Real Deal reported,citing a permit application. The 261,000-square-foot development, at 24-09Jackson Ave., will be the economy hotel chain's first project in the U.S. Itwill hold 1,260 rooms.
* Skyline Developers bagged a $100 million loan to refinanceits 23-story office building in Manhattan, N.Y.'s Garment District, The Real Deal reported,citing property records filed with the city. The 217,000-square-foot buildingat 1040 Sixth Ave. was built in 1925, and tenants include Valley National Bankand Ladas & Parry LLP, the report said.
* A $225 million mixed-use project in Lee's Summit, Mo., isto be considered for rezoning and planning approval by the city's planningcommission, the Kansas City BusinessJournal reported.
The 74-acre Village at View High project will include morethan 250,000 square feet of retail space, 100,000 square feet of office andmedical office space, more than 150-unit senior living community and 312apartments in 17 buildings, according to the report.
* A 560,000-square-foot development called "TheOasis" is planned west of Huntsville, Ala., AL.com reported,citing an announcement from Huntsville-based Crunkleton Commercial Real EstateGroup. The five-building development will be anchored by a luxury hotel andconference center.
* The New England Aquarium is willing to drop its oppositionto Don Chiofaro's high-rise plans to redevelop the site of a parking garage inBoston provided the two sides agree on the creation of a new park on theharbor, The Boston Globe reported.Chiofaro's scaled-back project will include condos, hotel rooms andoffice space.
* Bahrain-based real estate and hedge fund firm Investcorpbought three multifamily communities in north Raleigh, N.C., in a joint venturewith Redwood Capital Group, the TriangleBusiness Journal reported.The deal value was $83 million, the report noted, citing Wake County records.The three assets total more than 800 units.
* The commercial real estate market of Vancouver, BritishColumbia, could see increased investments from wealthy foreigners as a 15% taxwas imposed on non-Canadian buyers of residential real estate, Bloomberg News reported,citing brokerage Re/Max Holdings Inc. Commercial real estate deals in the cityhave already nearly doubled year over year in the first half to C$7.14 billion,the report noted.
After the bell
* A joint venture between Vornado Realty Trust, Related Cos. and Skanska AB wonthe bid for the redevelopment of the James A. Farley Post Office inManhattan, N.Y., into a new mixed-use transportation hub, New York Gov. AndrewCuomo said.
* CorrectionsCorp. of America is poised to eliminate 50 to 55 full-timepositions, or about 12% of its workforce, at its headquarters as part of arestructuring of itscorporate operations.
* DouglasEmmett Inc. purchased a class A office building in Santa Monica,Calif., for $139.5 million.
* The median sale price for single-family homes in GreaterBoston was up 8.7% year over year in August, and the median sale price of condosjumped 9.4% on the year, accordingto the Greater Boston Association of Realtors. Single-family home sales dipped0.4% year over year in August while condo sales were down 4.1%.
* Boyd GamingCorp. completed its acquisition of the holding company ofAliante Casino Hotel andSpa in North Las Vegas, according to a . The $380 million acquisitionwas recently approvedby the Nevada Gaming Commission.
The day ahead
Early morning futures indicators pointed to a mixed openingfor the U.S. market.
In Asia, the Hang Seng was up 0.20% to 23,619.65, and theNikkei 225 fell 1.31% to 16,465.40.
In Europe as of midday, the FTSE 100 had risen 0.76% to6,859.74, and the Euronext 100 had climbed 0.69% to 878.71.
On the macro front
Mortgage applications were down 0.7% from a week ago on a seasonally adjustedbasis for the week ended Sept. 23, the Mortgage Bankers Association reported.The market composite index, which measures mortgage application volume,decreased 1% on an unadjusted basis compared to the previous week.
The Bank Reserve Settlement report, the EIA petroleum statusreport and the durable goods orders report are due out today.
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