Paradigm Tax Group Industry News

Paradigm Tax Group Industry News

Stay informed with the most current Industry News that affects your business and impacts property taxes across the nation.

    First Industrial Taps Huge Chunk of Properties to Sell

    29 Oct, 2010

    First Industrial Realty Trust Inc. wants to sell about a fourth of its portfolio as a way of reducing its current debt. According to ChicagoRealEstateDaily.com, the Chicago, Illinois-based First...

    Hotel Tax Pits Hospitality Industry against City Officials

    28 Oct, 2010

    According to the St. Louis Business Journal, hoteliers, tourism officials and city budget crunchers all await the outcome of Tuesday's vote on whether to raise hotel taxes by up to 5% in specific...

    Ohio Remains at Bottom of Tax Climate Ranking

    27 Oct, 2010

    Ohio once again found itself in the bottom 10 of state business climates, but showed signs of improving momentum in the past year. According to the Business Courier, Tax Foundation research group...

    SE Austin Industrial/Office Complex Sold

    26 Oct, 2010

    Houston, Texas-based Hines Global REIT has bought the massive Southpark Commerce Center II in Southeast Austin, furthering positive signs of activity in the submarket. According to the Austin...

    Education Realty Trust to Sell Nine Properties for $84.8M

    25 Oct, 2010

    Education Realty Trust has agreed to sell nine existing student housing properties for $84.8 million and has also completed the purchase of a housing complex at the University of Virginia for $45.5...

    GGP Proves Chapter 11 Restructuring Works for REITs

    22 Oct, 2010

    General Growth Properties Inc. is preparing to emerge from Chapter 11 in early November, becoming one of the first and one of the largest REITs to climb out of bankruptcy. According to GlobeSt.com,...

    More Hotel Distress Lurks in Shadows

    21 Oct, 2010

    The third quarter showed an increase in the number of California hotels in default or foreclosure, but the even more threatening concern is the shadow inventory of properties that are in trouble but...

    Manhattan Tower Sees Vacancy Slip Below 2%

    20 Oct, 2010

    Opera Solutions has just finalized a lease for 11,161 square feet on the 17th floor of the 1.1-million-square foot, 41-story office tower located at 180 Maiden Lane in Manhattan, New York. According...

    Phillips Edison Launches $1.8B Retail REIT

    19 Oct, 2010

    Cincinnati, Ohio-based Phillips Edison & Co. has formed a REIT to raise $1.8 billion and finance the purchase of more than 150 grocery-anchored shopping centers nationwide. According to the Business...

    Things Are Looking Good For the Commercial Real Estate Market In 2011

    18 Oct, 2010

    With construction picking back up and rental prices slowly rising, it appears that the commercial real estate market is heading towards recovery in 2011. According to PricewaterhouseCoopers report,...

    SoCal Commercial Property Markets Still Look Weak

    15 Oct, 2010

    While there was little buying and selling of Industrial and Warehouse space in the third quarter in Southern California, they at least fared better than other areas of the region's commercial real...

    Hotels Use Downturn to Spruce Up

    14 Oct, 2010

    Although the hotel industry across the nation is still struggling to get back to normal due to the lack of leisure and business travel, some hotels and resorts are taking on major redesigns and other...

    D.C. Office Rents Now Top New York City

    13 Oct, 2010

    Once thought of as the undoubtedly highest office rents in the country, New York City has been overtaken by Washington D.C. last quarter, according to Cassidy Turley figures. The Washington Business...

    Update: Sea Island Sold For $212 Million

    12 Oct, 2010

    Updating on an August post about Southeast Georgia's Sea Island filing for bankruptcy, it has now been made public by the AP that the resort has been sold in auction for $212 million. According to...

    Phoenix Office Vacancy Rates Hold Steady, but Big Box Stores Remain a Drag on Market

    11 Oct, 2010

    A CB Richard Ellis report showed commercial real estate in the Phoenix, Arizona market as relatively stable during the third quarter. According to the Phoenix Business Journal, office vacancy rates...

    Blackstone to Acquire 180 Properties from ProLogis for $1B

    8 Oct, 2010

    Multiple sources are reporting that Blackstone Group LP, the world's largest private-equity firm, has agreed to buy 180 properties from warehouse giant ProLogis for $1 billion. The deal is...

    House Economic Leader Introduces Commercial Real Estate Bill

    7 Oct, 2010

    With the growing concern that federal bank regulators are making the challenges facing America's commercial real estate sector worse, Congressman Kevin Brady has introduced legislation to stabilize...

    Coventry Unveils $10B Master-Planned Community

    6 Oct, 2010

    Coventry Development Corp has unveiled plans for a 1,800-acre, master-planned community in North Houston, Texas. According to GlobeSt.com, the plans for the community is to include up to 5,000 homes,...

    Piedmont Office Buys 3 Buildings

    5 Oct, 2010

    Atlanta, Georgia-based Piedmont Office Realty Trust has bought three class-A office buildings for nearly $74 million. According to the Atlanta Business Chronicle, Piedmont's purchases include Suwanee...

    Summit Improves Space at Troubled Block 37

    4 Oct, 2010

    More tenants are moving into the 280,000-square-foot retail building at State and Washington streets in Chicago, Illinois. According to GlobeSt.com, Summit Design + Build LL has completed two...

    Cook County Property Tax Delays Cause Local Hardships

    1 Oct, 2010

    Used to receiving their property tax bills around the end of October, this year Cook County, Illinois property owners will not be receiving their tax bills until around Thanksgiving, nearly a full...

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