Vornado Realty Trust (VNO) announced that its agreement to sell an 8.6 acre parcel of land in the Pentagon City area of Arlington, Virginia has been terminated and the purchaser has forfeited a $27 million deposit.
Vornado will record termination income of $27 million in the fourth quarter. Vornado will write-down the carrying value of the land from $108 million to approximately $83 million in the fourth quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.