Thursday, January 31, 2013

Annaly Inks $872M Deal to Acquire Crexus




National





Annaly Inks $872M Deal to Acquire Crexus



NEW YORK CITY-Annaly CEO Denahan says the acquisition marks “a significant step” in her firm’s commitment to investing directly in commercial real estate assets.











Solid But Not Stellar Times Ahead for CRE



NEW YORK CITY-A pair of analysts give positive but-not-quite rosy forecasts for 2013.








Kraft Completes 679,000-SF Sale-Leaseback Outside Chicago




National Commercial Real Estate News From CoStar Group





Kraft Completes 679,000-SF Sale-Leaseback Outside Chicago



Kraft Foods Group (Nasdaq:KRFT) finalized the sale-leaseback of its 70-acre campus in Northfield, IL. W.P. Carey Inc. (NYSE:WPC), a REIT that owns and manages net leased assets, is the buyer. The price was undisclosed.

Kraft will maintain its headquarters at the 679,000-square-foot office building at 3 Lakes Drive in Cook County. Built in 1990, the four-story facility is fully occupied by the single tenant. It is 20 miles north of Chicago....






Aussie Investment House Returning To U.S. Real Estate




National Commercial Real Estate News From CoStar Group





Aussie Investment House Returning To U.S. Real Estate



AMP Capital Investors, an Australian investment house with $126 billion in funds under management, is getting back into U.S. real estate.

AMP Capital’s Global Direct Property Fund purchased a small CBD office building in Boston for $17.6 million to mark the fund’s first U.S. acquisition since the global financial crisis. AMP bought the building with investment manager Urdang Capital Management, the real estate investment specialist for BNY Mellon...






Wednesday, January 30, 2013

Recovering Office Demand Sets Stage For Rent Growth Across The U.S.




National Commercial Real Estate News From CoStar Group





Recovering Office Demand Sets Stage For Rent Growth Across The U.S.



Tenant demand for office space ended 2012 on a strong note as occupancy gains spread across a broadening array of U.S. markets, opening the door for widespread rental rate increases this year, CoStar Group reported in the company's Year-End 2012 Office Review & Outlook.

While overall leasing volume appeared to be somewhat lower in 2012 from the previous year, strong absorption and very limited new construction -- combined with a significant number...






RealShare APARTMENTS EAST | Feb. 26 | Hyatt Regency Miami




National





RealShare APARTMENTS EAST | Feb. 26 | Hyatt Regency Miami



In 2012, RealShare APARTMENTS EAST drew more than 400 high-level attendees for networking and three dozen industry experts speaking on an informative agenda. The event returns for its second year on February 26th at the Hyatt Regency in Miami, where we'll once again deliver the biggest multifamily crowd on the east coast and the timeliest market information on investment, finance, development, property management and more across the multifamily sector.








Watch List: Deep Underwater Vintage 2007 CMBS Office Loans




National Commercial Real Estate News From CoStar Group





Watch List: Deep Underwater Vintage 2007 CMBS Office Loans



Much has been made of how far commercial real estate values fell from the onset of the Great Recession in 2007. The fall inflicted significant damage on properties purchased and financed at the peak of the market.

Currently, more than 200 of the individual office properties purchased or refinanced in 2007 and on which the loans were subsequently pooled into commercial mortgage backed securities have loan balances larger than their most recent value...









Facility Closures & Downsizings: Lockheed Martin Shrinking its Real Estate Footprint



Lockheed Martin CEO and president Marillyn A. Hewson says the huge defense contractor still has a lot of shrinking to do.

Talking to analyst on its fourth quarter earnings conference call, Hewson told analysts a lot of the corporation’s downsizing will come from reducing its leased real estate footprint.

“We have had some reductions in force. We’ve taken out some management layers. We’ve been collapsing some organizations in order to get some...






Sternlicht Cashing Out on Corus Bank Failure




National Commercial Real Estate News From CoStar Group





Sternlicht Cashing Out on Corus Bank Failure



ST Residential, an investment group led by Barry Sternlicht's Starwood Capital, is planning to cash out a portion of a huge condo portfolio it acquired from the FDIC after the feds took over the $7 billion Chicago-based Corus Bank, which failed in the fall of 2009.

ST Residential, whose other partners include TPG Capital, Perry Capital and WLR LeFrak, is shopping 13 multifamily properties to prospective buyers. All of the properties are former...






2013: The Year for Risk and Reposition in FL?




National





2013: The Year for Risk and Reposition in FL?



MIAMI-Margaret Nee, 2013 CREW-Miami president shared her insights with GlobeSt.com on where the Florida market is headed this year. She also alluded to CREW-Miami’s growth and her enthusiasm for her new role.








Heitman Pays $92M for Miracle Marketplace




National Commercial Real Estate News From CoStar Group





Heitman Pays $92M for Miracle Marketplace



Heitman LLC has acquired the Miracle Marketplace located at 3301 Coral Way in Miami, FL for $92 million, or about $379 per square foot.

The 243,047-square-foot, class A, seven-story, vertically oriented retail power center, the only power center in the area, was originally built in 1986 on 3.5 acres in the Coral Way / Miracle Mile submarket of Miami/Dade County. The asset is 97 percent leased, with three floors of big-box retail anchored by Nordstrom...









THIS IS IT! Deadline to Submit Deals for 2012 CoStar Power Broker Awards is Feb.1!



The deadline to submit or confirm your 2012 deals before CoStar tallies all the deals that closed during the year and bestows CoStar Power Broker Awards on the winning firms and individual brokers is next week!

Our research confirmed that a huge number of deals closed at year-end. Don't miss out. Make sure all your deals are accounted for before the February 1, 2013 closing date for award consideration.

Each year, CoStar Group is proud to recognize...






New Castle Sees Golden Years Ahead for Hotels




National





New Castle Sees Golden Years Ahead for Hotels



With expectations of an upswing in the sector, the firm is embarking on an ambitious expansion strategy that will boost its portfolio of guest rooms by 20% over the next 18 months.








Tuesday, January 29, 2013

Google Alert - George Smith Partners

Web2 new results for George Smith Partners
 
George Smith Partners Closes $185M in Loans on So Cal Retail ...
Jan 28, 2013 9:31 AM, Staff Reports. George Smith Partners closed a $185 million financing on behalf of DJM Capital Partners Inc. to refinance a four-center ...
retailtrafficmag.com/.../george_smith_partners_closes_185m_l...
George Smith Partners Arranges $185 Million for SoCal Retail ...
DJM Capital Partners has received $185 million to recapitalize its ... Steve Bram, David Pascale and Ari Shram of George Smith Partners arranged the financing.
www.shoppingcenterbusiness.com/index.php?...


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Home Prices Rise for 10th Straight Month




National





Home Prices Rise for 10th Straight Month



NEW YORK CITY-Nineteen of the cities in the Case-Shiller 20-City Composite showed year-over-year gains in housing prices. The sole holdout: New York City.








DRA Advisors Acquires $81M Office Portfolio




National Commercial Real Estate News From CoStar Group





DRA Advisors Acquires $81M Office Portfolio



NY-based investment company DRA Advisors LLC has acquired the MoneyGram and 1600 Towers located in Saint Louis Park, MN from Equity Office / The Blackstone Group for $81 million, or approximately $165 per square foot.

The two class A office towers total 490,787 square feet in a master-planned office park immediately adjacent to The Shops at West End retail development. Duke Realty Corporation developed the two towers in 1987 and 2000.

MoneyGram...






Foreclosure Filings Down 3% from 2011




National





Foreclosure Filings Down 3% from 2011



IRVINE, CA-National foreclosure filings decrease year over year, although foreclosure activity increases in 25 states, says RealtyTrac.








PPR Experts Predict More CRE Lending in More Markets, While Apts. Face Potential Hit from Homeownership




National Commercial Real Estate News From CoStar Group





PPR Experts Predict More CRE Lending in More Markets, While Apts. Face Potential Hit from Homeownership



At the beginning of each year the real estate economists and analysts at Property & Portfolio Research (PPR), a CoStar company and the leading provider of CRE market forecasting and strategy consulting for the institutional investor community, gather to sift through reams of data and economic analysis and distill predictions on the CRE market for the coming year.

Not to brag, but the economists at PPR made some key calls ahead of 2012. Among their...






New Castle's Growth Plan Will Add 5 New Hotels




National





New Castle's Growth Plan Will Add 5 New Hotels



The firm is embarking on an ambitious expansion strategy to open five new hotels over the next 18 months, boosting its portfolio of guest rooms by 20%.











Investment Veteran Krauch Joins Bentall Kennedy



SAN FRANCISCO-The former managing director of Clarion Partners will play a lead role in Bentall Kennedy’s investor relations and product development functions, especially in the US.








Monday, January 28, 2013

Survey: Insurers Incur Few Risks, Losses From CRE Mortgages




National





Survey: Insurers Incur Few Risks, Losses From CRE Mortgages



WASHINGTON, DC-The results among insurance companies, which have a combined exposure of $135 billion, speak to both prudent management and improving fundamentals, say CREFC and Trepp.








Industrial's Trajectory To Steepen Through '14




National





Industrial's Trajectory To Steepen Through '14



WASHINGTON, DC—Already exhibiting signs of recovery, the US industrial market could see as much as 150 million square feet of absorption this year. What’s more, next year’s take-up could hit 175 million square feet.











Global Hotel Sales To Total $33B in 2013



LOS ANGELES-The future of the hotel investment market around the world was the topic of debate at Jones Lang LaSalle’s forecast presentation at the ALIS conference.








Industrial's Trajectory to Steepen Through 2014




National





Industrial's Trajectory to Steepen Through 2014



WASHINGTON, DC—Already exhibiting signs of recovery, the US industrial market could see as much as 150 million square feet of absorption this year. What’s more, next year’s take-up could hit 175 million square feet.











Value Place Secures $100M Investment; Eyes Chicago Market



WICHITA - Value Place, an economy extended-stay lodging chain, secures a $100 million private equity investment from Lindsay Goldberg, which will let it expand its franchises, with the company focusing on Chicago next.











Global Hotel Deal Volume To Total $33B in 2013



LOS ANGELES-The future of the hotel investment market around the world was the topic of debate at Jones Lang LaSalle’s forecast presentation at the ALIS conference.








Friday, January 25, 2013

BoA Inks $105M Sale-Leaseback of Dallas Area Campus




National Commercial Real Estate News From CoStar Group





BoA Inks $105M Sale-Leaseback of Dallas Area Campus



Bracebridge Corp., a subsidiary of Bank of America, sold the Hallmark Center, a 553,799-square-foot complex in Addison, TX, to Select Income REIT (NYSE: SIR) for $105 million or $190 per square foot. The buyer funded the acquisition by using cash on hand and borrowings under its revolving credit facility.

BoA, which fully occupies the two buildings, inked a leaseback deal for the North Dallas Parkway campus, which is about 14 miles north of downtown...






CoStar's People of Note (Jan. 20-26)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Jan. 20-26)



This week's People of Note includes the following markets: Austin, Chicago, Denver, Houston, New Orleans, New York City, Salt Lake City, San Antonio and Washington, DC.

WASHINGTON, DC
Cassidy Turley Names Benziger Regional Managing Principal
By Ashley McClain

Cassidy Turley appointed John Benziger as its new regional managing principal in the Washington, DC, metro region, where he will assume management responsibilities






Google Alert - George Smith Partners

News1 new result for George Smith Partners
 
George Smith Partners Secures $185M in Financing for Retail Portfolio
Commercial Property Executive
DJM Partners, Inc. has refinanced a four-property retail portfolio in southern California with $185 million in financing arranged by George Smith Partners, a commercial real estate investment banking firm in Los Angeles. The portfolio loan allowed DJM ...
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Commercial Property Executive


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LNR Deal Gives Starwood a Window on Special Servicing




National





LNR Deal Gives Starwood a Window on Special Servicing



GREENWICH, CT-Starwood Property Trust's pending acquisition means control of a special servicing business representing an unpaid balance of $131 billion.








Thursday, January 24, 2013

First Financial Network Offers$85 Million Loan Sale




National





First Financial Network Offers
$85 Million Loan Sale



OKLAHOMA CITY-First Financial Network, Inc., announced today the offering of $85 million in loans on behalf of FDIC.








First Financial Network Offers $85 Million Loan Sale




National





First Financial Network Offers $85 Million Loan Sale



OKLAHOMA CITY-First Financial Network, Inc., announced today the offering of $85 million in loans on behalf of FDIC.








Ariad Inks 244,000-SF Deal for New HQ, Lab Space




National Commercial Real Estate News From CoStar Group





Ariad Inks 244,000-SF Deal for New HQ, Lab Space



ARIAD Pharmaceuticals finalized a 15-year lease for approximately 244,000 square feet at the Alexandria Center at Kendall Square in Cambridge, MA. The company plans to relocate its corporate and research and development headquarters to 75/125 Binney St. by the first quarter of 2015.

The deal represents ARIAD's expansion and relocation from 26 Landsdowne St., Forest City Enterprises' and Health Care REIT's 100,361-square-foot office building at...






Call for Data: How Will 2013 Shape Up for Hotels?




National





Call for Data: How Will 2013 Shape Up for Hotels?



NEW YORK CITY-Ernst & Young just released its Global Hospitality report – we want to hear what your firm’s data indicates for the coming year.








Williams Realty Trades 1M-SF Apt. Portfolio for $91M




National Commercial Real Estate News From CoStar Group





Williams Realty Trades 1M-SF Apt. Portfolio for $91M



Williams Realty Advisors sold three multifamily communities totaling 928 units in Atlanta, GA, suburban Raleigh, NC, and Austin, TX, to Preferred Apartment Communities Inc. for $90.8 million, or approximately $98,000 per unit.

PAC secured financing through Prudential Multifamily Mortgage Inc. and Jones Lang LaSalle Operations LLC.

The 1.08 million-square-foot portfolio consists of:
Ashford Park--408 units at 2000 Asbury Square in Atlanta’s...






Feverish Pace of MOB Development Fueled By Strong Demand, New Occupancy Trends




National Commercial Real Estate News From CoStar Group





Feverish Pace of MOB Development Fueled By Strong Demand, New Occupancy Trends



The hot medical office building (MOB) market is likely to remain in at least a semi-feverish state as the transition of common medical procedures to outpatient clinics accelerates with full implementation of the Patient Protection & Affordable Care Act, fundamentally changing the nation's health-care delivery system.

Health care was the largest job-creation sector in 2012, with most of the jobs added in ambulatory care facilities, a trend that...






Hoteliers Struggle to Keep Up with Tech




National





Hoteliers Struggle to Keep Up with Tech



LOS ANGELES-Owners and operators of lodging facilities aren’t keeping pace with advancements in technology, experts here at ALIS say.











Sternlicht Takes LNR in $1B Acquisition



GREENWICH, CT-Sternlicht says the deal adds scale to Starwood Property Trusts’s operating platform and “dramatically expands our proprietary origination capabilities.”











Home Prices Make Largest Leap Since '06



IRVINE, CA-The CoreLogic Home Price Index increases 7.5% in 2012, and the analytics firm projects prices to rise 6% this year.








Wednesday, January 23, 2013

Strong Demand, New Trends Expected To Fuel Feverish Pace of MOB Development




National Commercial Real Estate News From CoStar Group





Strong Demand, New Trends Expected To Fuel Feverish Pace of MOB Development



The hot medical office building (MOB) market is likely to remain in a feverish state as the transition of common medical procedures to outpatient clinics accelerates with full implementation of the Patient Protection & Affordable Care Act, fundamentally changing the nation's health-care delivery system.

Health care was the largest job-creation sector in 2012, with most of the jobs added in ambulatory care facilities, a trend that will continue...






Dow Signs CBRE to Major Facilities Deal




National





Dow Signs CBRE to Major Facilities Deal



LOS ANGELES-Details are sketchy, but GlobeSt.com has learned that a new facilities services deal puts almost 7 million square feet of space into CBRE’s management portfolio.








Watch List: 10-Property Industrial Portfolio Largest To Go into Special Servicing in Past Month




National Commercial Real Estate News From CoStar Group





Watch List: 10-Property Industrial Portfolio Largest To Go into Special Servicing in Past Month



A $186 million, 10-year CMBS loan secured by a first mortgage on 10 industrial properties in Columbus, OH; Memphis and Nashville, TN; and Woodland, CA; and is the largest loan to go into special servicing in the past month.

Share this story with your followers Tweet

The sponsor of the loan and properties is a high net worth individual represented by Strategic Realty Advisors Ltd. (StratREAL), a global real estate investment advisor, based...






Hoteliers Optimistic about Future




National





Hoteliers Optimistic about Future



LOS ANGELES-A staggering 98% of owners and other experts in the industry expect both occupancy and rental rates to climb this year, an expert says at the opening of the Americas Lodging and Investment Summit.








Jones Lang LaSalle Wins Global HSBC Mandate




National Commercial Real Estate News From CoStar Group





Jones Lang LaSalle Wins Global HSBC Mandate



The news report was written by James Buckley, CoStar News Editor in London.


Jones Lang LaSalle confirmed it has won one of the largest commercial property management roles of all time, having been appointed by HSBC as its sole global facilities management (FM) provider, as tipped by CoStar News in November.

The 5-year agreement is the largest facility management contract yet awarded to a single provider on a global basis by a financial services...






HSBC, Jones Lang LaSalle Sign Global Outsourcing Contract




National





HSBC, Jones Lang LaSalle Sign Global Outsourcing Contract



CHICAGO - HSBC chooses Jones Lang LaSalle to provide real estate facility management services in the largest facility management contract awarded to a single provider on a global basis by a financial services firm.











Top NY Team Joins IPA



NEW YORK CITY-The Marcus & Millichap apartment veteran will lead the New York team for the company’s Institutional Property Advisors division.








Do a Few Good Weeks Portend a Good Year Ahead?




National Commercial Real Estate News From CoStar Group





Do a Few Good Weeks Portend a Good Year Ahead?



Clarion Partners, a leading New York-based global investment manager, epitomizes what has been occurring in the U.S. commercial real estate investment sales market over the past few weeks. Clarion has been on a tear, as has the investment market.

· In a joint venture with MetLife Real Estate Investors, Clarion purchased the 1.4 million-square-foot Constitution Center, the largest, privately-owned, trophy office building in Washington, DC, for...









Spirit Realty To Combine With Cole Credit Property Trust II To Form $7.1 Billion Public REIT



Spirit Realty Capital Inc. and Cole Credit Property Trust II have approved a definitive agreement to merge their companies and create the second largest publicly traded triple-net-lease REIT in the U.S. with a pro forma enterprise value of $7.1 billion.

Last month, Cole Credit Property Trust II, a non-traded REIT, temporarily suspended both its distribution reinvestment plan and its share redemption program in a move widely viewed as a potential...









Incoming NAREIT Chair Says REITs Well Positioned To Capitalize On Recovery In 2013



Recent data from the National Association of Real Estate Investment Trusts (NAREIT) verifies that the beat continued to go on for U.S. REITs last year, with share prices outperforming the broader equity market for the fourth straight year.

The FTSE NAREIT All REITs Index, which also includes mortgage REITs, delivered a 20.14% total return for the year, while the equity REIT index returned 19.7%. That compares to the S&P 500’s 16% gain.

With...






7 Hot Tips for Investors




National





7 Hot Tips for Investors



Columnist Ben Johnson has some sound advice for institutional players as we swing into a continuation of 2012.











Westcore Properties Picks Cassidy Turley to Manage 11 Million SF Portfolio



ST. LOUIS – Cassidy Turley is chosen by Westcore Properties to provide management services for its industrial, office and retail properties in CA, IN, and MO.








Tuesday, January 22, 2013

Not Spec For Long: McDermott To Anchor Hines' New 45-Story River Point Office Tower




National Commercial Real Estate News From CoStar Group





Not Spec For Long: McDermott To Anchor Hines' New 45-Story River Point Office Tower



Law firm McDermott Will & Emery confirmed it signed a letter of intent with development partners Hines and IvanhoƩ Cambridge to relocate its downtown Chicago office and become the anchor tenant of River Point, a new 45-story West Loop office tower under construction at 444 W. Lake Street. The law firm expects to take occupancy in the new riverfront building by the spring of 2017 when its current lease at 227 W. Monroe Street expires.

McDermott...






WesternGeco Inks 554,385-SF Deal in Houston




National Commercial Real Estate News From CoStar Group





WesternGeco Inks 554,385-SF Deal in Houston



WesternGeco, a subsidiary of Schlumberger, signed a new lease for 554,385 square feet of office space at 10001 Richmond Ave. in Houston, TX.

The company's deal includes the entire five-story office building. It was constructed in 1976 in the Westchase submarket in Harris County.

WesternGeco had been on a long-term sublease and signed on a direct basis.

Steve Biegel, David Endelman and Mark Russell of Studley represented WesternGeco. James...






Lee's Ed Indvik Planning New Niche Services




National





Lee's Ed Indvik Planning New Niche Services



MIAMI—Lee & Associates CEO Ed Indvik tells GlobeSt.com's Jennifer LeClaire why he's convinced the company's new Appraisal and Valuation line will grow--and what the firm is planning next.








In The Pipeline: CoStar Development & Construction News for Jan. 21 - 26




National Commercial Real Estate News From CoStar Group





In The Pipeline: CoStar Development & Construction News for Jan. 21 - 26



In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
Principle Delivers Manufacturing Facility For WinPak


Principle...






Lee CEO Shares Valuation Strategies




National





Lee CEO Shares Valuation Strategies



ATLANTA-Lee CEO Ed Indvik tells GlobeSt.com's Jennifer LeClaire the focus of the company's new service line and what sets it apart from the competition.











Young Broker Advises: Stay Organized



NEW YORK CITY-Keep that database fresh and accurate. that's the best advice Joanne LeBlanc can offer. And oh yes, wear a great pair of shoes.








Friday, January 18, 2013

Specialty REITs: What's In It For You




National





Specialty REITs: What's In It For You



NEW YORK CITY-Part 2 of this two-part feature explores what's ahead for specialty REITs and what the offer investors.








Hilco Adds Property Tax Division to Appraisal Business




National





Hilco Adds Property Tax Division to Appraisal Business



NORTHBROOK, IL - Hilco's new property tax division will offer a full suite of tax solutions and will operate in all 50 states.








CoStar's People of Note (Jan. 13-19)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Jan. 13-19)



This week's People of Note includes the following markets: Charlotte, Cleveland/Northern Ohio, Dallas/Fort Worth, Houston, San Francisco and Washington, DC.

WASHINGTON,DC
Prutting In, Meisel Up, Dahlstrom Out? DC Sales Firms Revamp Lineups
By Tim Trainor

The Washington Nationals wasn't the only local team making changes to their lineup this week (so long Michael Morse, you'll be missed).

The personnel moves






REIT Specialties on the Rise




National





REIT Specialties on the Rise



NEW YORK CITY-CBS turning billboards into trusts is only the most recent example. And there’s more coming. (Part 1. Come back this afternoon to find out why investors are hot for the sector.)








Thursday, January 17, 2013

HRA Leases 236,000 SF in the Bronx




National Commercial Real Estate News From CoStar Group





HRA Leases 236,000 SF in the Bronx



New York City's Human Resources Administration (HRA) signed a 20-year lease for 235,664 square feet at the BankNote building, located at 890 Garrison Ave in Bronx, NY.

The six-story, 410,194-square-foot, class A office building was built in 1911 on 2.4 acres in the Hunts Point section of the Bronx. The HRA deal, along with separate leases signed with Urban Health and the School Construction Authority, bring the building to nearly 98 percent leased...






Atlanta Marriott Marquis Sells for $293 Million




National Commercial Real Estate News From CoStar Group





Atlanta Marriott Marquis Sells for $293 Million



The Atlanta Marriott Marquis in downtown Atlanta, GA, changed hands for $293 million or $176,000 per key. Host Hotels & Resorts LP (NYSE:HST) traded the 1,663-room asset to an undisclosed buyer.

The 479,002-square-foot, 50-story hospitality building at 265 Peachtree Center Ave. NE was built in 1985. Marriott International Inc. manages the property under a long-term agreement.

"I am excited to report our continued success in executing our asset...






CBS Plans REIT Spinoff ofOutdoor Ad Business




National





CBS Plans REIT Spinoff of
Outdoor Ad Business



NEW YORK CITY-CEO Leslie Moonves and other executives have hinted in recent months that they don’t see billboards and other outdoor media as a core component of the business.








GlobeSt Poll, Industry Pros Agree on '13




National





GlobeSt Poll, Industry Pros Agree on '13



NEW YORK CITY-No matter how you approach it, the coming year will be a study in slow growth.








Wednesday, January 16, 2013

R.R. Donnelley Renews 696,157 in Chicago Suburb




National Commercial Real Estate News From CoStar Group





R.R. Donnelley Renews 696,157 in Chicago Suburb



R.R. Donnelley & Sons Co., a printing services company, signed a long-term lease renewal for 696,157 square feet in the industrial building at 1000 Windham Parkway in Romeoville, IL.

TIAA-CREF owns the property, which was completed in 2004. The structure is part of the Windham Lakes Business Park.

Mark Moran and Adam Roth of NAI Hiffman represented TIAA-CREF. Kirk Armour and Scott Brandwein of CBRE represented R.R. Donnelley.






CRE Pricing Strengthens As Buyers Expand Targets To Include Smaller Properties, More Markets




National Commercial Real Estate News From CoStar Group





CRE Pricing Strengthens As Buyers Expand Targets To Include Smaller Properties, More Markets



November brought modest improvement to commercial real estate pricing as investors appeared to put the uncertainty -- temporarily at least -- of the nation's fiscal issues and U.S. elections behind them.

The two broadest measures of aggregate pricing for commercial properties within the CoStar Commercial Repeat Sale Indices (CCRSI), the value-weighted U.S. Composite Index and the equal-weighted U.S. Composite Index, gained respectively by 0.9...









Big-Name Developers, Investors Boomerang Back Into Condos



For six long years following the burst housing bubble and subsequent recession, residential condominium sales remained in a deep freeze. However, late last year condo sales quietly began to recover in gateway markets such as Boston, San Francisco and New York.

More recently, analysts and major investors are starting to take serious notice of the emerging condo market after several large residential and commercial developers announced new condo...









Cerberus’ $3.3B Deal for 877 Grocery Stores Could Mean More Store Closings



Cerberus Capital Management is putting grocery store chain Albertsons back together again.

A Cerberus-lead investment group has cut a deal to acquire 877 stores from SuperValu Inc., including its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market chains. The deal also includes related Osco and Sav-on in-store pharmacies and totals about $3.3 billion.

Cerberus currently owns and operates 192 Albertsons stores across the South and Southwest...









Other National Retailers at Risk of Closing Stores



By: Suzanne Mulvee, Director of U.S Research, Retail
In making our annual market predictions for 2013 last month, CoStar Group’s PPR subsidiary wagered that store closings by national retailers would again top 50 million square feet of space this year. It wasn’t much of a stretch, as many national chains have already announced downsizings - including Sears, Blockbuster, Supervalu and Hostess Outlet stores.

There are other chains that have not...









Hotel Buyers To Play Catch Up with Rest of CRE Investment Market in 2013



While it currently looks like hotels will be the only sector of commercial real estate that didn't see a year-over-year increase in sales transactions in 2012, the prospects for 2013 are looking up.

As of this week, CoStar COMPs research shows that total hospitality transactions had a down year in 2012, a 16% decline from 2011 -- $18.3 billion in sales in 2012 vs. $21.7 billion in 2011. CoStar COMPs research on total transactions won’t be completed...









Watch List: New Property Appraisal Reductions from Year-End



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Drexel University Leases 185,000 SF in Philadelphia



Drexel University has signed a new lease for 119,000 square feet, expanding to a total 185,000 square feet at the Three Parkway office building located at 1601-1645 Cherry St. in Philadelphia, PA. Occupancy will take place in phases through 2015.

Three Parkway is a 20-story, 561,351-square-foot, class A office tower constructed in 1970 and renovated three times since in the Market Street West submarket. The building has been awarded an Energy...






Market Drives Indices Rate




National





Market Drives Indices Rate



NEW YORK CITY-Updating this morning's story about new REIT indices, NAREIT's Michael Grupe responds to our question about the increasing inventory of market indicators.








Google Alert - George Smith Partners

Web1 new result for George Smith Partners
 
George Smith Partners Secures $9 Million in Financing for Las ...
LOS ANGELES, CA (Jan. 15, 2013) – Commercial real estate investment banking firm George Smith Partners has successfully arranged a $9.1 million bridge ...
www.zimbio.com/.../George+Smith+Partners+Secures+9+Milli...


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Another REIT Index Hits the Market




National





Another REIT Index Hits the Market



NEW YORK CITY-S&P Dow Jones has introduced its Equal Weight Index, measuring the performance of publicly traded REITs and REIT-like securities. Is the market becoming over-indexed?








Tuesday, January 15, 2013

Retail CEOs: "We Must Send a Message" to DC




National





Retail CEOs: "We Must Send a Message" to DC



NEW YORK CITY-Starbucks CEO Schultz joined his counterparts at the Container Store and Whole Foods in calling for retailers to engage with politics, their communities and their employees.











More Work But (At Least) More Pay



NEW YORK CITY-Things must be getting better. More than 900 executives across the country are reporting that, having taken on more work in 2012, they’re finally expecting fatter paychecks in 2013.








In The Pipeline: CoStar Development & Construction News for Jan. 13 - 19




National Commercial Real Estate News From CoStar Group





In The Pipeline: CoStar Development & Construction News for Jan. 13 - 19



In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
Matthews Southwest Acquires 157 Acres For Mixed-Use Project

Dallas...






Monday, January 14, 2013

Colliers Calls for Both Highs and Lows in 2013




National





Colliers Calls for Both Highs and Lows in 2013



NEW YORK CITY-The company’s fourth quarter briefing showed a wide range of results in 2012, and cited reasons to expect more of the same this year.








L.A. Ranks 5th in Multifamily Permitting




National





L.A. Ranks 5th in Multifamily Permitting



LOS ANGELES-According to Axiometric’s jobs report, the region fell in the middle of the top ten list for markets issuing apartment permits during the 12 months ending November 2012.








Dow Signs CBRE to Major Facilities Deal




National





Dow Signs CBRE to Major Facilities Deal



LOS ANGELES-Details are sketchy, but GlobeSt.com has learned that a new facilities services deal puts almost 7 million square feet of space into CBRE’s management portfolio.











US Foreclosure Stock Drops 18% in a Year



IRVINE, CA-The number of completed foreclosures nationwide decreased 23% between November 2011 and November 2012, says CoreLogic.











C&W: Office Will Heat Up in the Summer



NEW YORK CITY-Continuing uncertainty about Congress’ ability to resolve the debt ceiling issue will put a drag on corporate tenants’ expansion plans for the first half of the year, C&W experts said in a webinar Friday.








Saturday, January 12, 2013

George Smith Partners completes 212 commercial real estate and multifamily loans

George Smith Places over 212 Loans totaling $1,273,001,866



For Information or help with your loan, contact Bryan Shaffer
310-867.-2906
bshaffer@gspartners.com

Friday, January 11, 2013

TIAA-CREF Trades Air Rights Center to MRP/Rockpoint JV




National Commercial Real Estate News From CoStar Group





TIAA-CREF Trades Air Rights Center to MRP/Rockpoint JV



TIAA-CREF found a purchaser for the Air Rights Center, its 688,717-square-foot office complex in downtown Bethesda, MD. MRP Realty and Rockpoint Group LLC partnered to acquire the three properties and a development site for an undisclosed price.

The portfolio includes the Air Rights North Tower, a 12-story, 357,061-square-foot office building at 4550 Montgomery Ave.; the 13-story, 221,881-square-foot West Tower at 7315 Wisconsin Ave.; and the 10...






Market & C-Suite Shifts at Transwestern




National





Market & C-Suite Shifts at Transwestern



HOUSTON-A Latin America expansion and the promotion of Chip Clarke to president, Americas lead the changes.








Bridge To Create 3,000 Jobs Annually




National





Bridge To Create 3,000 Jobs Annually



LONG BEACH, CA-It will relieve congestion on the road network that directly serves one of the nation’s busiest ports, and will “bring lasting, positive economic impacts across many sectors,” says the mayor.








CoStar's People of Note (Jan. 6-12)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Jan. 6-12)



This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Houston, National, New York City, Northern New Jersey, Philadelphia, San Antonio, San Francisco and South Florida.

NATIONAL, SAN FRANCISCO
Cassidy Turley Taps Northern California Leader Kamm to Serve as President
By CoStar Research

Cassidy Turley has promoted Michael Kamm to president of the company, assuming t









RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






Industrial: Challenger to Apt. Dominance




National





Industrial: Challenger to Apt. Dominance



EXCLUSIVE NEW YORK CITY-What is the investor’s property of choice? Yeah, yeah. But industrial is most likely to upend multifamily’s market dominance.








RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






Thursday, January 10, 2013

RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...