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John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
NEW YORK CITY-Final bids were filed yesterday for the storied Twin Towers and various surrounding assets. Insiders report the Port Authority expects to get close to its $3-billion asking price, but the final results could take weeks.
NEW YORK CITY-Sam Zell doesn't flinch easily--not in the face of recession. He told a crowd here yesterday the fundamentals of a strong real estate market will get the industry through the economic woes of 2001's first half.
NEW YORK CITY-Layoff of 14 people from NY office sets stage for hiring new techies to ramp up Bluewire, CEO Shively tells GlobeSt.com. She says the operation's funded through her break-even point.
NEW YORK CITY-Brokers here say the shuttering of some Office Depot and Sears locales could only be the beginning of a larger trend among retail types that offer no differentiation.
CHICAGO-Mark Ruda boasts a diverse background. But his history as both a newspaperman and real estate broker come together in his new assignment for GlobeStcom.
NEW YORK CITY-The deal closes months-long debate, conjecture and competition among some of the industry's heaviest hitters. The final price falls short of Goldman Sachs' asking price of $2.5 billion.
NEW YORK CITY-Insiders see repositioning to better serve markets, but no major re-invention of its market focus and absolutely no plans to close doors entirely.
NEW YORK CITY-Don't cry doom and gloom just yet. Most experts see the industry surviving the coming economic hit. The question is exactly how hard that hit will be.