Commercial real estate
* Rockefeller Group and Japan-based Mitsubishi Estate Co. Ltd. are planning a 46-story, 123-unit condominium tower at 30 E. 29th St. in Manhattan, N.Y.'s NoMad neighborhood, The Real Deal reported, citing documents filed with the city's Department of Buildings. The plans were filed by Rockefeller and Mitsubishi Estate New York.
The roughly 170,000-square-foot project would be nearly 600 feet tall. Rockefeller acquired five land parcels and additional development rights for the project for $98.7 million in 2017 from various sellers. Mitsubishi Estate then acquired a 75% stake in the parcels for $85 million and provided debt to Rockefeller to finance the acquisitions, the report noted, citing the city's Department of Finance.
* Weyerhaeuser Co. reported net earnings attributable to common shareholders of $271 million, or 36 cents per share, on net sales of $1.82 billion, for the fourth quarter of 2017.
* The iconic Empire State Building in Manhattan is expected to have roughly 50,000 square feet of retail space available for leasing by 2020, Bloomberg News reported. Landlord Empire State Realty Trust Inc. has commenced a "gut rehab" of the landmark's retail space for the first time since the building opened, the news outlet noted, citing Dana O'Donnell, a marketing account executive for the company.
Jeffrey Roseman, an executive vice president at brokerage Newmark Knight Frank, noted that the tower should prove immune to e-commerce-induced retail leasing troubles as it commands some of New York's heaviest pedestrian traffic.
* Media giant Condé Nast is considering scaling back its one million-square-foot presence at One World Trade Center in Manhattan where it signed the lease in 2011, The Real Deal reported, citing unnamed sources. The company has hired JLL to evaluate options for underused space in the 24 floors it occupies, including placing several floors up for subleasing.
Condé Nast has been consolidating its space in Lower Manhattan amid challenges in the publishing industry, the report pointed out.
* ACCO Engineered Systems acquired a 235,000-square-foot building at 888 East Walnut St. in Pasadena, Calif., for $112 million for its new headquarters, The Real Deal reported, citing CoStar Group. The seller, JP Morgan & Chase, paid $127 million for the asset in 2007, the report noted. ACCO, which is based at a 60,000-square-foot facility in Glendale, Calif., will occupy about 130,000 square feet at the property.
* Furniture giant IKEA Group acquired 25,000 acres of forest land in Alabama's Lowndes County for an undisclosed price, marking its first purchase of a forest property in the U.S. Forestry investments are part of the company's strategy to invest in the sustainable production of resources that it consumes.
* Origin Investments and Aegon USA Realty Advisors paid roughly $72.2 million for the 320-unit Advenir at Saddle Rock apartment community in Aurora, Colo., the Denver Business Journal reported. Citing Arapahoe County public records, the report noted that the previous owner was Advenir Inc.
The 22959 E. Smoky Hill Road property was built in 2002 and has a number of amenities. Renovation and improvement works are planned for the asset, the report noted.
Housing
* D.R. Horton Inc. has leased 14,600 square feet of office space at 181 Harry S. Truman Parkway in the Annapolis Corporate Park in suburban Baltimore, the Baltimore Business Journal reported. The lease is for the relocation of the homebuilder's mid-Atlantic headquarters from Northern Virginia.
* Median home prices in the South Florida markets of Miami, Fort Lauderdale and West Palm Beach rose 8.9% year over year to $245,000 in the fourth quarter of 2017, The Real Deal reported, citing Attom Data Solutions.
Home prices in Miami-Dade were up 9.8% year over year at $269,000, reflecting a 109% increase from the record low of $129,000 in 2011. The peak median price was roughly $309,000 in 2007, the report noted.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng fell 0.12% to 32,601.78, and the Nikkei 225 declined 0.90% to 23,274.53.
In Europe, around midday, the FTSE 100 was down 0.34% at 7,464.61, while the Euronext 100 was down 1.04% at 1,048.25.
On the macro front
The employment situation report, the consumer sentiment report, the factor orders report and the Baker-Hughes Rig Count report are due out today.
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Data Dispatch: January state of the housing market: Chart Watch: Recently released data showed a monthly decline in home sales and housing starts, while home prices continued to increase.
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