REal Talk with Adam Perrotta - Fri. July 11

By Adam Perrotta, News Writer

--The sale of Brooklyn's massive Starrett City complex--which stalled last year after a potential buyer was nixed by the HUD Secretary--looks to be gaining momentum again.  Given the regulatory and PR headaches that plagued last year's prospective buyer Clipper Equities, the fact that a reported eight entities have submitted bids is a testament to just how prized a property the 6,000 unit complex is.

The other big news today was the departure Grubb & Ellis Co. CEO Scott Peters, the latest in a series of management shakeups at the real estate services giant since its acquisition by NNN Realty Advisors late last year. Speculation that Peters's departure may be connected to former chairman Anthony Thompson's efforts to return to the firm's board must remain just that for now.

Finally, a $1 billion Calgary office project takes another step forward with the naming of a firm to construct the structural steel skeleton for the 2 million-square-foot project. Given the city's thriving oil industry, we may be seeing more giant projects like this one in the near future.