Commercial real estate
* Blackstone Group Inc. retail arm ShopCore Properties, through an affiliate, purchased the Home Depot-anchored Towne Center East in Signal Hill, Calif., for $61 million, The Real Deal reported, citing property records. DRA Advisors LLC sold the property comprising 163,000 square feet of rentable space at the corner of Cherry Avenue and Willow Street. The parties did not respond immediately to a request for comment, the publication noted.
* WeWork Cos. Inc.'s plans to sublease space at the Rainier Square development in Seattle from Amazon.com Inc. are still intact, though the sublease can be half of the originally planned space of about 200,000 square feet to 300,000 square feet, the Puget Sound Business Journal reported, citing commercial real estate sources.
* The We Co. unit's Indian operator WeWork India is in early discussions to raise $200 million in fresh funding from new investors, Reuters reported, citing WeWork India's chief shareholder Jitu Virwani, who operates the entity via the Blackstone-backed Embassy Group. The talks follow failed negotiations for a $100 million funding from Indian lender ICICI Bank Ltd., according to the newswire.
WeWork India has halted talks of selling the bulk of its operations to The We Co. and is now raising about 40 billion rupees from sales of some of its assets, with plans to invest the proceeds to grow WeWork India, Virwani told Reuters.
* Developer Tavistock Development Co. LLC is in talks to sell roughly 15.3 acres at 7600 Narcoossee Road in Orlando, Fla., to Seefried Industrial Properties Inc. for an undisclosed price, the Orlando Business Journal reported, citing real estate sources. Seefried has developed several projects for e-commerce giant Amazon, the publication added. The tenant and the construction timeline of the potential Seefried project are not known.
* Armada Hoffler Properties Inc. is looking to sell its share of the One City Center building in Durham, N.C., comprising 152,815 square feet of rentable space across four floors of class A office space and ground-floor retail, the Triangle Business Journal reported. The floors are 84% leased. The 27-floor building at the corner of Corcoran and Main streets, the tallest in downtown Durham, houses WeWork, which occupies 58,000 square feet, according to the publication.
* Bell Partners Inc. sold the 360-unit Bell Wakefield apartment community in Raleigh, N.C., to TIAA affiliate Nuveen for $70.5 million, the Triangle Business Journal reported, citing records. The units are spread across 19 buildings on 29 acres at 12201 Oakwood View Drive. Bell paid $46.8 million for the property in 2013.
* The industrial market of Los Angeles County logged a 44.6% year over year drop in leasing during the third quarter, reflecting a slowdown as it approaches maximum capacity, The Real Deal reported, citing data from commercial brokerage NAI Capital. Average asking rent remained unaffected at the all-time high of $1.01 per square foot. Vacancy tightened to 2.3% year over year and sales volume dropped 40% on an annual basis during the quarter. The drop in leasing transactions is attributed to low availability and high pricing, the report added.
* New York-based Schluter-Systems plans to open a 500,000-square-foot regional distribution center at Hillwood Development Co. LLC's more than 26,000-acre AllianceTexas master-planned development north of Fort Worth, Texas, the Dallas Business Journal reported.
* Front Street Capital purchased 110 acres of land across nine adjacent properties at Union Cross Industrial Center in Piedmont Triad, N.C., with plans to develop five industrial buildings totaling over 850,000 square feet, including a 500,000-square-foot distribution building, the Triad Business Journal reported.
* Mitsubishi Motors is close to finalizing a deal to lease the top 1.5 floors of Boyle Investment Co. Inc.'s seven-story, 180,000-square-foot office building in the McEwen Northside project in Franklin, Tenn., the Nashville Business Journal reported, citing multiple sources and a building permit application. Mitsubishi will use the office asset as its North American headquarters, the publication noted.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng jumped 0.10% to 25,707.93, while the Nikkei 225 jumped 0.45% to 21,551.98.
In Europe, around midday, the FTSE 100 increased 0.04% to 7,169.18, and the Euronext 100 dropped 0.06% to 1,065.92.
On the macro front
The consumer price index, the jobless claims report, the EIA natural gas report, the Treasury budget, the Fed balance sheet and the money supply report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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