Acadia plows ahead with $122M retail investment in Soho

first_img47 Greene Street and President & CEO of Acadia Realty Trust Kenneth F. Bernstein (Credit: Google Maps)UPDATE, Monday, Oct. 28, 2019, 2:45 p.m.: Soho has been one of Manhattan’s more troubled retail corridors in recent years. But, anticipating a rebound, Acadia Realty Trust has been scooping up storefronts in the neighborhood, particularly along Greene Street.In its third-quarter filing Thursday, the real estate investment trust said it had closed on another $25.1 million of its previously announced plans to acquire some $122 million worth of retail assets along Greene Street. The new acquisitions cover seven properties with an average remaining lease term of six years, one executive said on an earnings call this summer. Newmark Knight Frank’s Brian Segall and George Martinecz were the sole brokers on the transactions.Earlier in the year, Rye, N.Y.-based Acadia said it planned to buy $97 million worth of retail assets in Soho. Acadia upped that commitment in July when it announced having picked up 47 Greene Street, a 7,200-square-foot property leased to fashion brand Theory, for $24.8 million in an off-market deal from seller EMP Capital Group. That comes out to nearly $3,450 per square foot.ADVERTISEMENTIn April, Premier Equities and Thor Equities sold the retail space at 51 Greene Street to Acadia for $14.6 million.As of the end of the third quarter, $74.4 million of its under-contract deals — four contiguous buildings on Greene Street — have closed. Acadia said it expects the rest to close next year.Acadia’s plan is to aggregate clusters of buildings “to curate these streets with the right mix of tenants. This creates a powerful portfolio,” president and CEO Kenneth Bernstein said during the company’s earnings call. “Additionally, we have found that when vacancies dry up, when scarcity and the rules of supply and demand kick in, well, rents grow.”The retail play comes as New York’s retail market remains bifurcated, with some neighborhoods faring better than others as retailers grapple with waves of tenant bankruptcies and store closures.An August report issued by the city found that the retail vacancy rate for Soho/Noho was higher than the city’s average of 11.6 percent. The city did not include Greene Street in its analysis of the neighborhood — it looked at Broadway, West Broadway and Broome, Lafayette, Mulberry, Prince, Houston and Spring streets — but found the vacancy along those streets to be 13.8 percent.That’s not as bad as Canal Street’s 25.9 percent, though far from the top-performing neighborhood of Jackson Heights, where the rate was just 5.1 percent.Another measure of retail real estate in Manhattan, brokerage firm CBRE’s third-quarter market report, also found that Soho was a challenged area for retail. Though CBRE, too, did not focus on Greene Street, the firm found that Broadway in Soho saw a 14.9 percent drop in asking rents in the third quarter from the quarter before, to $486 per square foot. That was the first time that rents had dipped below $500 per square foot since 2011.Acadia reported net income of $31.7 million for the first nine months of the year. That’s up about 30 percent year over year. The occupancy rate for its portfolio was 93.5 percent, and the firm also reported inking leases at 154 Spring Street and 135 Prince Street, also in Soho.A representative for Acadia did not immediately return a request for comment.Correction: A previous version of this story spelled the name of the seller of 47 Greene Street incorrectly. The story has since been updated. This content is for subscribers only.Subscribe Nowlast_img read more

People Moves: Lodha UK, Savills, Mayer Brown and more

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

The wealth effect and the death of builders’ tea

first_imgGet your free guest access  SIGN UP TODAY Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Subscribe now for unlimited access To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletterslast_img read more

Powering on

first_imgGet your free guest access  SIGN UP TODAY Subscribe now for unlimited access Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our communitylast_img read more

Meningitis warning issued after three deaths in Ireland

first_imgThree people have died as a result of a spike in meningitis cases in Ireland in the past two weeks.The HSE is warning the public to be extra vigilant regarding meningococcal meningitis/septicaemia due to a rise in infections. Eleven cases were notified to the Health Protection Surveillance Centre (HPSC) since the last week in December. Three patients have died as a direct result of the disease.Dr Suzanne Cotter, Specialist in Public Health Medicine, HSE Health Protection Surveillance Centre said: “If anyone has any concerns about meningitis they should ring their GP in the first instance.  Meningitis and septicaemia often happen together and symptoms can appear in any order. Some may not appear at all. “Early symptoms can include; fever, headache, vomiting, diarrhoea, muscle pain, stomach cramps, fever with cold hands and feet and a rash, but do not wait for the rash to appear. If someone is ill and getting worse, get medical help immediately.“Parents of children should also check that they are up-to-date regarding their childhood meningococcal vaccinations.”Meningitis is a serious illness involving inflammation of the membranes covering the brain and spinal cord. It can be caused by a variety of different germs, mainly bacterial and viruses.The illness occurs most frequently in young children and adolescents, usually as isolated cases.  Bacterial meningitis or septicaemia requires urgent antibiotic treatment. The HSE reports that all age groups, from infants to elderly, have been affected in recent cases. Meningitis warning issued after three deaths in Ireland was last modified: January 10th, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:HSEmeningitislast_img read more

SA woman to head World Editors Forum

first_img“Our interest must be in helping editors of news organisations lead change that builds loyal readership, strengthens titles and news brands. A unique annual occasion Ireton is the first woman to head the World Editors Forum, which was created in 1994 as a unique global network for exchanging ideas on newsroom management, editorial quality, online strategies and press freedom issues. Cherilyn Ireton, a South African editor and successful senior manager at some of the country’s top newspapers, has been appointed executive director of the World Editors Forum, the global organisation for editors within the World Association of Newspapers and News Publishers (WAN-IFRA). For the past six years she has been based in London, consulting on media matters to a variety of international organisations and governments. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material “While attention to content delivery channels is vital to the future of newspapers, our focus must equally be on ensuring that high editorial standards and ethics are upheld and that young readers are introduced to the joy and power that news and information can bring,” she said. Ireton is a seasoned newspaper professional with more than 20 years’ experience on South Africa’s top newspapers, including the Sunday Times and Business Day, where she worked as a journalist, editorial manager and chief operations officer.center_img The World Editors Forum conference is held annually alongside the World Newspaper Congress. Together the meetings are the global annual summit meetings of the world’s press. The Forum runs the Editors Weblog and organises several conferences and study tours, including an annual Newsroom Summit and its flagship event: the World Editors Forum Conference, intended for chief editors and other senior executives, a unique annual occasion for dialogue, debate and idea-exchange on the changing business of editing newspapers. “The World Editors Forum needs to build on its role as the leadership hub for editors by providing meaningful spaces, both physical and virtual, for editors to share intelligence, innovative ideas and their experiences with their peers,” Ireton said in a statement this week. It represents more than 18 000 publications, 15 000 online sites and over 3 000 companies in more than 120 countries. 26 January 2012 WAN-IFRA, based in Paris, France, and Darmstadt, Germany, with subsidiaries in Singapore, India, Spain, France and Sweden, is the global organisation of the world’s newspapers and news publishers.last_img read more

This April Bravo Stacks Nationwide Freeview with MustSee Programming including Debuts of

first_imgAdvertisement LEAVE A REPLY Cancel replyLog in to leave a comment TORONTO (April 4, 2017) – Beginning April 11, Bravo is unlocking a nation-wide freeview showcasing its lineup of must-see exclusive dramas.As recently announced, THE HANDMAID’S TALE starring Elisabeth Moss is one of multiple exclusive tent-pole dramas to air in Canada on Bravo. The 10-episode series kicks off with a special, two-hour premiere event on Sunday, April 30 from 9 – 11 p.m. ET (10 p.m. – midnight PT) and continues Sundays at 9 p.m. ET/10 p.m. PT, beginning May 7. Click here for a sneak peek.In THE KENNEDYS: AFTER CAMELOT Katie Holmes reprises her role as Jackie Kennedy Onassis from the critically acclaimed 2011 miniseries THE KENNEDYS, and is joined by Canadian star Matthew Perry as Ted Kennedy. The two-part, four-hour miniseries debuts exclusively on Bravo on Sunday, April 16 and April 23 at 9 p.m. ET. Click here for sneak peek. Login/Register With: About BravoBravo delivers compelling stories through clever and immersive programming to viewers across Canada. From high-profile dramas to blockbuster feature films, Bravo is home to award-winning entertainment. Bravo is a division of Bell Media, which is owned by BCE Inc. (TSX, NYSE: BCE), Canada’s largest communications company. More information about Bravo is available at www.bravo.ca. Advertisementcenter_img Advertisement Based on the novel by Kem Nunn, provocative and psychological thriller CHANCE premieres Sunday, May 7 at 10 p.m. ET. The 10-epiosde, hour-long drama stars Hugh Laurie (HOUSE) as Eldon Chance, a forensic neuropsychiatrist.Premiering Tuesday, April 18 at 8 p.m. ET, cult-favourite PRETTY LITTLE LIARS returns with its final 10 episodes to unearth answers to the last remaining secrets.Joining the dramatic Tuesday night roster is the all new Hollywood drama FAMOUS IN LOVE, premiering on Tuesday, April 18 at 9 p.m. ET. The 10-episode hour-long series stars Bella Thorne (The Duff) as Paige, an ordinary college student who gets her big break when she lands the leading role in the next Hollywood blockbuster. Niki Koss stars alongside Thorne as confident and entitled Alexis, who is up for the same role as Paige.Sunday night movies begin Sunday, April 30 at 7 p.m. ET, beginning with the smash-hit MURDER SHE BAKED movie series starring Alison Sweeney (DAYS OF OUR LIVES) with the all new movie, MURDER SHE BAKED: JUST DESSERTS. A fan-favourite, the inaugural instalment MURDER, SHE BAKED: A CHOCOLATE CHIP COOKIE MYSTERY drew in an average of 400,000 viewers when it aired in August 2015.Also premiering is a brand new murder mystery series starring singer-songwriter Jewel and Canadian Colin Ferguson. FRAMED FOR MURDER: A FIXER UPPER MYSTERY premieres exclusively on Bravo on Sunday, May 7 at 7 p.m. ET.Fan-favourite UNDERGROUND returns Monday, April 24 at 9 p.m. ET. The Season 2  premiere finds John Hawks (Marc Blucas) working to keep Noah (Aldis Hodge, Hidden Figures) from being hanged for murder.See below for premiere dates and descriptions for new and returning series. All dates are subject to change. Visit Bravo.ca to confirm local broadcast times.Bravo Freeview Programming Includes:THE KENNEDYS: AFTER CAMELOT (Sunday, April 16 at 9 p.m. ET – Two-Hour Mini-Series Premiere)The mini-series follows the assassination of Bobby Kennedy, as Jackie (Holmes) defies public opinion and marries Greek shipping magnate Aristotle Onassis (Alexander Siddig, GAME OF THRONES). Ted Kennedy (Perry) is pressured to replace his fallen brother and continue the legacy of “Camelot” by running for the White House himself. The Kennedy family is shaken to its core when Ted’s car accident at Chappaquiddick results in the death of his female companion. Jackie returns from Greece – over the objections of Onassis – to help the Kennedys, only to find herself drawn into their attempt to save Ted’s career by evading justice.PRETTY LITTLE LIARS (Tuesday, April 18 at 8 p.m. ET – Season 7B Premiere)The liars return to pick up the pieces in the final ten episodes of PRETTY LITTLE LIARS. After years of being stalked and bullied by the mysterious “A” – first, the original “A”; then later by big “A”; and now by their newest tormentor “A.D.” – Aria (Lucy Hale), Spencer (Troian Bellisario), Hanna (Ashley Benson), Emily (Shay Mitchell) and Alison (Sasha Pieterse) are ready to end the games and finish this for good.FAMOUS IN LOVE (Tuesday, April 18 at 9 p.m. ET – Series Premiere)Paige (Bella Thorne) is an ordinary college student, before she gets her big break after auditioning for the starring role in a Hollywood blockbuster. Paige must now navigate her new star-studded life and undeniable chemistry with her two co-leads while discovering the highs and lows that come with being the new It Girl in town.UNDERGROUND (Monday, April 24 at 9 p.m. ET – Season 2 Premiere)The second season of the Underground Railroad thriller continues the characters’ unremitting struggle for freedom within a divided America on the brink of civil war, each side vying to enact their own justice.MURDER SHE BAKED: JUST DESSERTS (Sunday, April 30 at 7 p.m. ET – Movie Premiere)Hannah Swensen (Sweeney) is thrilled when she is chosen as a guest for the first Eden Lake Dessert Bake-Off, but when fellow judge, Coach Boyd Watson is found murdered; Hannah once again takes it upon herself to find the killer.THE HANDMAID’S TALE (Sunday, April 30 at 9 p.m. ET – Two-Hour Series Premiere)The series follows life in the dystopia of Gilead, a totalitarian society in what was formerly part of the United States. Facing environmental disasters and a plunging birthrate, Gilead is ruled by a twisted fundamentalist regime that treats women as property of the state. As one of the few remaining fertile women, Offred (Elisabeth Moss) is a Handmaid in the Commander’s household, one of the caste of women forced into sexual servitude as a last desperate attempt to repopulate a devastated world. In this terrifying society where one wrong word could end her life, Offred navigates between Commanders, their cruel Wives, domestic Marthas, and her fellow Handmaids – where anyone could be a spy for Gilead –  with one goal: to survive and find the daughter that was taken from her.FRAMED FOR MURDER: A FIXER UPPER MYSTERY (Sunday, May 7 at 7 p.m. ET – Movie Premiere)In the small resort town of Lighthouse Cove, everyone knows that the best man for the job is a woman. And that woman is Shannon Hughes (Jewel), owner of a construction company and an expert in Victorian home restoration and renovation. Through her renovations she will find clues to uncover the house’s secret past and in turn become an unlikely sleuth to help crack these unsolved mysteries.CHANCE (Sunday, May 7 at 10 p.m. ET – Series Premiere)A provocative, psychological thriller, CHANCE focuses on Hugh Laurie as Eldon Chance, a San Francisco-based forensic neuropsychiatrist who reluctantly gets sucked into a violent and dangerous world of mistaken identity, police corruption and mental illness. After an ill-advised decision regarding an alluring patient who may or may not be struggling with a multiple personality disorder, Chance finds himself in the crosshairs of her abusive spouse, who also happens to be a ruthless police detective. In over his head, Chance’s descent into the city’s shadowy underbelly, all while navigating the waters of a contentious divorce and the tribulations of his teenage daughter, soon spirals into an ever-deepening exploration of one of mankind’s final frontiers — the shadowy, undiscovered country of the human mind. Facebook Twitterlast_img read more

FortisTCI on five hour Chalk Sound black out

first_img Related Items:chalk sound, fortis tci, lineman, power FortisTCI reveals Education Week winners Facebook Twitter Google+LinkedInPinterestWhatsApp TCI Police looking for candy & electricity thieves Recommended for you Rave Reviews for National Science Fair ideas Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 13 Apr 2015 – A five hour power outage yesterday was caused by an underground circuit fault according to FortisTCI. Around 2pm, the Chalk Sound area lost electricity and according to a Fortis report, the power was returned by around 7:30pm. The company explained lineman worked through the restoration and apologized for the inconvenience.last_img read more