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Real estate continues recovery in Q4
Los Angeles -- CBRE Group reported Thursday that, despite sluggish economic growth, the U.S. commercial real estate market remained on a recovery path in fourth quarter 2012.
The retail availability rate declined slightly to 12.8%, down 10 bps compared with the previous quarter.
“The broken record of slow but positive progress toward a real estate recovery continues to repeat,” said Jon Southard, managing director of CBRE’s Econometric Advisors Group.
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Duane Morris names co-chairs of Real Estate Practice Group
Philadelphia and New York -- Law firm Duane Morris announced that it has named partners Chester Lee in New York and George Kroculick in Philadelphia as co-chairs of its firmwide Real Estate Practice Group.
Lee and Kroculick succeed partner Marc Brookman in heading the practice.
Lee and Kroculick will take over a national practice involving more than 90 lawyers with broad experience in real estate and development matters.