Thursday, October 31, 2013

PRESS RELEASE: Gebroe-Hammer Associates Arranges $4 Million Trade In Dover, N.J.


National Real Estate Investor

PRESS RELEASE: Gebroe-Hammer Associates Arranges $4 Million Trade In Dover, N.J.


Gebroe-Hammer Associates recently orchestrated the $4 million sale of Lion Gate at Granny Brook, a 27-unit luxury garden-apartment style complex in Dover.



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PRESS RELEASE: Metro 1 Closes Five Lease Deals Totaling Over 13,000 Square Feet


Metro 1 Commercial recently executed a total of three lease deals at 2103 Coral Way, a 67,374-sq.-ft. office building at the corner of Coral Way and 21st Avenue in Miami, and two at 2600 Douglas Road in downtown Coral Gables.



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Retail Investment Sales Fall in Line with Historic Averages in the Third Quarter


National Real Estate Investor

Retail Investment Sales Fall in Line with Historic Averages in the Third Quarter

Overall retail investment sales during the quarter totaled $19.2 billion—an increase of a whopping 104 percent from the third quarter of 2012, according to data provided by Real Capital Analytics (RCA), a New York City-based research firm.

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Wednesday, October 30, 2013

PRESS RELEASE: Lee & Associates-LA North/Ventura Transacts 5-Acre Land Sale for Largest Apartment Community in Glendora, CA


National Real Estate Investor

PRESS RELEASE: Lee & Associates-LA North/Ventura Transacts 5-Acre Land Sale for Largest Apartment Community in Glendora, CA


Lee & Associates-LA North/Ventura has transacted the sale of five acres of land for the development of the largest apartment community in the city of Glendora, Calif., according to principals of Lee & Associates, who represented the buyers and sellers.



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PRESS RELEASE: Rotech Healthcare Inc. Creating 200 Jobs in Charlotte


The company opened a 24,174-sq.-ft. customer support center at 207 Regency Executive Park Drive.



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PRESS RELEASE: Sunrise Management Opens New Phoenix-Area Office; Names New Regional VP


Sunrise Management has expanded its Southwestern operations, opening a new Phoenix-area office at 1921 S. Alma School Rd. in Mesa, Ariz. To keep pace with growth in the region, Kevin Pennel has been promoted from regional real estate manager to regional vice president.



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PRESS RELEASE: New Ownership Acquires Prime Downtown Summit Site to Create New Boutique Class A Office and Retail Building


National Real Estate Investor

PRESS RELEASE: New Ownership Acquires Prime Downtown Summit Site to Create New Boutique Class A Office and Retail Building


MRY Associates, founded by real estate industry veteran Mark Yeager, in partnership with Normandy Real Estate Partners, one of the nation’s leading private equity real estate firms, today announced that the partnership has acquired a prime, one-quarter-acre site in downtown Summit with plans to create 466 Springfield Avenue, a new 35,000-square-foot boutique Class A office and retail building.



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Secondary Office Investment Markets Gain Popularity









Office investment sales are gaining traction as a new wave of buyers have emerged, bidding up pricing for core assets and driving investors to second-tier markets in their search for higher yields.

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Investors Begin to Cash In on Single-Family Bets


National Real Estate Investor

Investors Begin to Cash In on Single-Family Bets








Some investors that built up pools of single-family homes are already beginning to cash in through IPOs, securitizations and portfolio sales.

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PRESS RELEASE: Plaza Construction Announces Opening Of New Entry Hall Pavilion At The World Financial Center


Tapped by Brookfield Office Properties to build an Entry Hall Pavilion at recently re-named Brookfield Place (The World Financial Center), Plaza Construction is pleased to announce the opening of a magnificent new Entry Pavilion with the capacity to accommodate an estimated 100,000 commuters daily.



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Best of the Best 2013






Welcome to NREI’s 13th annual Best of the Best compendium of surveys. At the links below, you’ll find a comprehensive look at the state of commercial real estate. We list the biggest brokerages, property managers, owners by property type, developers, direct lenders and financial intermediaries.



The rankings were compiled from responses to a series of surveys posted at www.nreionline.com. Where applicable, rankings have been amended and extended from the versions that appeared in the June/July issues of NREI.



The surveys were distributed to past respondents and subscribers to NREI’s print and digital products. In addition, some firms’ information was pulled from SEC filings and company Web sites. If you would like to be added to these lists or included in next year’s edition, contact David Bodamer at david.bodamer@penton.com.









Brokerage







Finance







Office







Industrial







Retail







Apartments







Hotels






Section 8 Title
Property Management






Tuesday, October 29, 2013

PRESS RELEASE: Besen Special Assets Appoints Daniel Kole as Managing Director


National Real Estate Investor

PRESS RELEASE: Besen Special Assets Appoints Daniel Kole as Managing Director


Besen Special Assets is proud to announce the hiring of Daniel Kole as Managing Director of the residential (1-4 family) whole loan desk.



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PRESS RELEASE: Jones Lang LaSalle Chosen by Griffin Capital to Manage 30 Independence Blvd. in Warren, NJ


Jones Lang LaSalle was selected by Griffin Capital Corporation to manage 30 Independence Boulevard in Warren, N.J. The firm will provide a full range of property management services at the 210,524-square-foot commercial office building.



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PRESS RELEASE: Barden N. Gale Joins Mack Real Estate Group


Barden N. Gale has joined Mack Real Estate Group (MREG), the company announced. Mr. Gale will serve as Vice Chairman and member of the investment committee of MREG, the new real estate investment enterprise founded this year by William Mack, Richard Mack, and Stephen Mack.



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PRESS RELEASE: Hanley Investment Group Sells High Profile Development Opportunity in Los Angeles, CA


National Real Estate Investor

PRESS RELEASE: Hanley Investment Group Sells High Profile Development Opportunity in Los Angeles, CA


Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today the sale of a high profile development opportunity in Los Angeles, Calif., vacant land that was used as a parking lot for the former Jerry's Deli.



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PRESS RELEASE: Cole Real Estate Investments Purchases Trader Joe's Anchored The Shops at Prescott Gateway in Prescott Arizona For $12.7 Million


Cassidy Turley, a leading commercial real estate provider in the U.S., announced today they successfully sold The Shops at Prescott Gateway, a ±34,671-square-foot shopping center adjacent to Prescott Gateway Mall, on the southwest corner of Highway 69 and Lee Boulevard in Prescott, Arizona.



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Monday, October 28, 2013

PRESS RELEASE: Hawkins Joins J.C. Anderson, Inc.


National Real Estate Investor

PRESS RELEASE: Hawkins Joins J.C. Anderson, Inc.


J.C. Anderson, Inc. is pleased to announce that the firm has hired Jason Hawkins to join the team as senior project manager.



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PRESS RELEASE: Reed Construction Selected for 22,000 Square Foot Build-Out in West Loop


Reed Construction is pleased to announce that the firm has been selected for a 22,000 square foot tenant build-out at 100 N. Riverside Plaza in Chicago on behalf of new tenant, law firm Carroll McNulty & Kull.



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American National Insurance Company Selects Yardi for Real Estate Management Solutions


Texas-based company integrates business management software to perform accounting, fixed asset control, and budgeting and forecasting for its properties within its core Yardi Voyager platform.



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PRESS RELEASE: Winter Garden Commerce Center Industrial Park Attracts New Owners, Sells for $2.3 Million


Signaling the return of new construction and companies expanding in Winter Garden, TSM Industrial Park, LLC purchased the Winter Garden Commerce Center industrial park from PNC Bank, NA for $2.3 million.



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PRESS RELEASE: MB Real Estate Supports Breast Cancer Awareness Month


MB Real Estate helped to spread breast cancer awareness in Chicago again this year. Throughout the month of October, the Chicago-based commercial real estate firm illuminated its headquarter office building, 181 W. Madison in Chicago, with pink lights.



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Friday, October 25, 2013

PRESS RELEASE: CBRE Appointed Exclusive Leasing Agent at SL Green Realty Corp.’s 520 White Plains Road


National Real Estate Investor

PRESS RELEASE: CBRE Appointed Exclusive Leasing Agent at SL Green Realty Corp.’s 520 White Plains Road


CBRE Group's Westchester/Connecticut office has been appointed the exclusive leasing agent for 520 White Plains Road, a 167,554- sq.-ft., six-story office building located in Tarrytown, NY.



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PRESS RELEASE: Savills Brings Premium Open-Air Shopping Center in Cincinnati Area to Market


Real estate investment banking firm Savills LLC, in affiliation with Mid-America Real Estate Group, has been appointed exclusive advisor for the sale of Newport Pavilion, a new 471,000-sq.-ft., class-A shopping center in the greater Cincinnati area.



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PRESS RELEASE: Grocer-Anchored Shopping Center Changes Hands


Marcus & Millichap Real Estate Investment Services arranged the sale of the Kroger Shopping Center, a 167,961-sq.-ft. grocery-anchored retail center in Fort Worth, Texas. The terms of the sale were not released.



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Student Housing Still Strong, Say NMHC Leaders








Despite declining stock prices for student housing REITs, the fundamentals of the student housing business are still strong, according to Jim Arbury, Vice President for Student Housing with the National Multi-Housing Council.

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The Semantics of Sustainability


National Real Estate Investor

The Semantics of Sustainability








“We do not have to wait for historical commentary to show us that green buildings are smarter, healthier and more efficient,” says John “Chip” Akridge III, founder and chairman of the Washington, D.C.-based commercial real estate firm bearing his name and a member of the NREI Sustainability Board of Advisors. “There is no turning back—high-performance, energy-efficient, sustainable buildings are here to stay. And we believe that smart sustainability does not cost—it pays!”

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Thursday, October 24, 2013

Why J.C. Penney Store Closings May Not Be Soon in Coming


National Real Estate Investor

Why J.C. Penney Store Closings May Not Be Soon in Coming

For this department store chain, getting rid of underperforming stores won't be so easy.

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Merger with ARCP Only Way Cole Could Grow, But the Deal Requires a Delicate Balancing Act


National Real Estate Investor

Merger with ARCP Only Way Cole Could Grow, But the Deal Requires a Delicate Balancing Act

Sources who closely follow the REIT sector note the terms of the new deal are not drastically different from those offered for CCPT III back in March.

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10 Largest Malls in the U.S.A









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Wednesday, October 23, 2013

PRESS RELEASE: Rockin' Retail Condo At The Hit Factory On The Market For $8.7M


National Real Estate Investor

PRESS RELEASE: Rockin' Retail Condo At The Hit Factory On The Market For $8.7M


The Hit Factory – the legendary Manhattan recording studio where superstars like Michael Jackson, John Lennon, Paul Simon and the Rolling Stones produced some of their finest music – has a prime retail opportunity up for grabs.



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PRESS RELEASE: Commercial PACE Provider Figtree Financing Issues Third Bond Just 3 Months After Its Last


Figtree Financing, a leading provider of Property Assessed Clean Energy (PACE) financing, issued its third bond bond on October 22, 2013.



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PRESS RELEASE: New York: Mixed-Use Property Sold for $10.7 Million


Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 256 West 15th St., a mixed-used building in Manhattan composed of  22 apartments and two retail units. The $10,750,000 sales price equates to $447,917 per unit.



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PRESS RELEASE: Bijou Properties' Edge Lofts Rental Building In Hoboken Receives LEED® Platinum Certification


Bijou Properties announced today that Edge Lofts, its new luxury rental building in Hoboken, N.J., has been awarded LEED® Platinum certification from the U.S. Green Building Council (USGBC) for achievement in green homebuilding and design.



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PRESS RELEASE: The Boulder Group Arranges Sale of a Net Leased Walgreens Property in McAllen, Texas


National Real Estate Investor

PRESS RELEASE: The Boulder Group Arranges Sale of a Net Leased Walgreens Property in McAllen, Texas


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 2300 Pecan Boulevard in McAllen, TX for $2,284,000.



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PRESS RELEASE: CRE Veteran Earns Harvard Business School Certificate


Gary Walker, president and founder of SCM Real Estate Services, has completed a real estate management program for experienced executives at Harvard Business School in Boston.



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PRESS RELEASE: Oakland’s Uptown & Downtown Community Benefit Districts Show Steady Business Growth


During the last several months of 2013, there have been further increases in business growth in the Downtown Oakland and Lake Merritt/Uptown business improvement districts. There has also been an uptick in real estate investment activity.



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PRESS RELEASE: Brookfield Office Properties Retains Jones Lang LaSalle at 685 Market Street in San Francisco


SAN FRANCISCO - Brookfield Office Properties (BPO) announced Jones Lang LaSalle (NYSE: JLL) has been appointed exclusive leasing agent for newly acquired 685 Market Street in San Francisco.



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PRESS RELEASE: Watt Plaza Becomes First Building In Century City To Receive Platinum LEED Certification


Watt Plaza is raising the bar for sustainable building operations in Century City. Watt Plaza announced today that the twin 23-story office tower earned LEED Platinum for Existing Buildings Operating and Maintenance from the U.S. Green Building Council. Watt Plaza has the distinction of being one of four high-rise office buildings in the City of Los Angeles to achieve this premier distinction, one of 46 in the state of California and one of 110 nationwide.



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Cerberus Exploring Acquisition of Safeway


National Real Estate Investor

Cerberus Exploring Acquisition of Safeway








Cerberus is reportedly one of a number of private equity players that has expressed interest in the supermarket chain.

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American Realty Capital, Cole Real Estate Strike $11.2B Merger Deal








The merger will create the largest net lease REIT in the country, with an enterprise value of $21.5 billion.

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PRESS RELEASE: NAIOP New Jersey Program Focuses on Changing Demographics


The recently enacted Economic Opportunity Act of 2013 (EO13) provides powerful tools for attracting companies to the Garden State, but how do we convince the talented young professionals, which employers seek, to choose New Jersey?



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Tuesday, October 22, 2013

PRESS RELEASE - $2.4 Million Apartment Sale Arranged By Reichle Klein Group’s Investment Property Advisors


National Real Estate Investor

PRESS RELEASE - $2.4 Million Apartment Sale Arranged By Reichle Klein Group’s Investment Property Advisors


Reichle Klein Group recently orchestrated the sale of Park Terrace Apartments, a 208-unit apartment community in Toledo, Ohio, for $2.4 million.



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PRESS RELEASE: Teach For America Leases at Robert Treat Center in Newark


Teach For America, the national corps of college graduates who commit to teaching in low-income communities, has leased 9,080 square feet at The Berger Organization's Robert Treat Center, 50 Park Place in Newark.



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PRESS RELEASE: Alliance Residential Purchases Downtown Scottsdale Development Site For $18.5 Million


Cassidy Turley has sold a 5.4 acre multi-family development site approved for 316 units at 75th Street and Stetson Drive in Scottsdale, Arizona.



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Money in the Cloud: CRE Investors Continue Pursuit of Data Centers


National Real Estate Investor

Money in the Cloud: CRE Investors Continue Pursuit of Data Centers








With cloud technology becoming the norm for data storage for everything from individual smartphones and laptops to Fortune 500 companies, data centers continue to be a hot property class.

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12 Major Office Buildings Under Construction









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PRESS RELEASE: Reed Construction Selected for 375,000 Square Foot Build-out at Aon Center in Chicago


Reed Construction is pleased to announce that the firm has been selected to complete a 375,000 square foot renovation for Aon Corporation at The Aon Center in Chicago.



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Images from Sears' Stores: Is This What Giving Up Looks Like?


National Real Estate Investor

Images from Sears' Stores: Is This What Giving Up Looks Like?

This collection of photos from the chain's New York and New Jersey stores won't reassure anyone.

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US Economy Adds Disappointing 148,000 Jobs in September


National

US Economy Adds Disappointing 148,000 Jobs in September

WASHINGTON, DC-The unemployment rate dropped to 7.2%, but it is not likely that the Fed will be begin tapering.



Understanding Bldgs. Is Key for Sustainability

IRVINE, CA-Knowing the energy consumption of a building and what specifically is using up that energy is important in order to reduce usage, said speakers at the Solar Decathlon and XPO in this UPDATE to an earlier story.



Monday, October 21, 2013

SIOR Pushing Technology Use for Members


National

SIOR Pushing Technology Use for Members

CHICAGO—The organization will have its Fall conference in Chicago this week and hopes to get attendees to use mobile apps and online communities.



NMHC: Apt. Sector Takes 'A Small Step Back'

WASHINGTON, DC-The council’s latest quarterly survey of apartment market conditions showed all four indexes were below the break-even line for the first time in four years.



PRESS RELEASE: Northeast Medical Group Signs Long-Term Lease at Simone Development’s Harrison Executive Medical Park in Purchase, NY


National Real Estate Investor

PRESS RELEASE: Northeast Medical Group Signs Long-Term Lease at Simone Development’s Harrison Executive Medical Park in Purchase, NY


Northeast Medical Group (NEMG), a physician group affiliated with Yale New Haven Health, has signed a long-term lease for over 4,500 sq. ft. at the Harrison Executive Medical Park in Purchase, NY owned by Simone Healthcare Development Group and Fareri Associates.



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PRESS RELEASE: Faris Lee Investments Completes $13.2 Million Sale of The Monet at Victoria Gardens Mall in Rancho Cucamonga, California


Faris Lee Investments completed the $13.2 million sale of The Monet at Victoria Gardens Mall, a fully occupied, 31,407-sq.-ft. retail center located at 12455 Victoria Gardens Lane in Rancho Cucamonga, Calif.



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The Risks of Adaptive Reuse


National

The Risks of Adaptive Reuse

MIAMI—Multifamily adaptive reuse projects come with risks and rewards. Columbia Residential's Jim Grauley shared both sides of the story with GlobeSt.com's Jennifer LeClaire in this exclusive interview.



Crown Castle and AT&T Reach $4.8B Deal on Cell Towers

HOUSTON, TX-Long term lease backs will give AT&T use of the tower capacities for a minimum of 10 years.



PRESS RELEASE: Pyramid Systems Inc. Signs Full-Floor Office Lease at Prosperity Metro Plaza


National Real Estate Investor

PRESS RELEASE: Pyramid Systems Inc. Signs Full-Floor Office Lease at Prosperity Metro Plaza


Transwestern today announced it completed a 23,379-square-foot, top-floor office lease with Pyramid Systems Inc. at Prosperity Metro Plaza, located at 2677 Prosperity Ave. in Merrifield, Va.



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PRESS RELEASE: Lincoln Wins Assignment to Lease 128,837-Square-Foot Phoenix Park in Metro Atlanta


Lincoln Property Company Southeast (Lincoln) has been awarded the exclusive leasing assignment for Phoenix Park, a three-building, 128,837-square-foot office complex near the Hartsfield-Jackson Atlanta International Airport in the southern part of the metro area. OA Development recently purchased the property.



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PRESS RELEASE: Hanley Investment Group’s Urban Retail Division Sells Ground-Floor Retail Condominium in Downtown Los Angeles, Calif. for $1,225,000


This transaction represents the fifth retail property transaction that HI Urban Retail Advisors has executed in Downtown Los Angeles in the past 24 months.



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PRESS RELEASE: Champion Realty Advisors, LLC Is Now Fischer–Chicago


J.D. Salazar, SIOR has announced that Champion Realty Advisors, LLC is now Fischer–Chicago.



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PRESS RELEASE: Urban Innovations Announces Five New Leases In Chicago’s West Loop


Urban Innovations announced the signing of three (3) leases at 833 West Jackson increasing occupancy by 20%. Additionally, two (2) leases were signed at 322 South Green, raising occupancy by 17%.



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Seniors Housing Firms Wrestle With Implementing Obamacare


National Real Estate Investor

Seniors Housing Firms Wrestle With Implementing Obamacare








As individual enrollment for Obamacare began this month, seniors housing owners are mired in discussions about how to meet, both financially and administratively, the upcoming employer mandates starting in 2015.

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Investors Flood NIC Conference








Spirits were high at the annual National Investment Center for the Seniors Housing & Care Industry conference, held earlier this month, as the main concerns voiced by attendees—future overbuilding and increased interest rates—are being held in check by tight lending policies and the slow pace of recovery.

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Collaboration Makes Vulcan Tick


National

Collaboration Makes Vulcan Tick

SEATTLE-Input from a variety of sources has helped Vulcan achieve its award-winning success with South Lake Union, the firm’s Rob Arron tells GlobeSt.com’s Carrie Rossenfeld.



Monitor Buildings for Energy Savings

IRVINE, CA-Monitoring and measuring your building is one of the secrets to keeping energy costs down, said panelists at a recent Bank of America sustainability panel here.



NRG Energy to Buy CA Power Co. for $2.6B


National

NRG Energy to Buy CA Power Co. for $2.6B

WEST WINDSOR, NJ-A Princeton based powerhouse electric company is acquiring a bankrupt California coal and wind producer and in the process will become one of the country's largest renewable energy providers.



Capital Markets: As CRE Prices Improve, So Do Sizeable REO Dispositions


National Commercial Real Estate News From CoStar Group

Capital Markets: As CRE Prices Improve, So Do Sizeable REO Dispositions

The U.S. CMBS delinquency rate continued its steady decline last month as banks continue to take advantage of higher prices for commercial property and unload large REO dispositions, according to the latest index results from Fitch Ratings.
CMBS delinquencies should continue to move lower as commercial property assets become REO, are repriced and disposed of, Fitch noted. In fact, the percentage of REO assets in Fitch Ratings’ delinquency index...


Could Advance Auto Parts, CarQuest Merger Create Retail Real Estate Spare Parts?

Advance Auto Parts Inc., one of the biggest retailers of automotive aftermarket parts, agreed to acquire one of its major competitors, General Parts International Inc., which operates the CarQuest and WorldPac brands, for $2.04 billion in an all-cash transaction.
The transaction creates the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.2 billion for the Roanoke, VA-based firm.
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Didn’t That Used to Be an Office Building?

By: Jeff Myers
Office demolitions and conversions are playing an interesting role in this cycle’s office recovery. They decrease competition for tenants, especially between Class B and C landlords, and as empty space is removed from the market, vacancies decline.
The effect of space removals has been unusually visible in recent years due to the dearth of new office buildings. In 2012, the office stock shrunk in a third of the 54 top U.S. markets...


Sunday, October 20, 2013

PRESS RELEASE: Cohen Financial Arranges More Than $8.2 Million Refinancing For Portfolio Of 11 Retail Properties


National Real Estate Investor

PRESS RELEASE: Cohen Financial Arranges More Than $8.2 Million Refinancing For Portfolio Of 11 Retail Properties


Cohen Financial announced that its Phoenix office has secured $8.298 million to refinance a portfolio of 11 single tenant retail properties located in Arizona, Illinois, Indiana, Kansas, Louisiana, Michigan, Ohio, Texas and Virginia.



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PRESS RELEASE: Datawatch Systems Grows In Texas With Addition Of New Regional Sales Manager


Datawatch Systems is expanding its Houston operations with the addition of a seasoned regional sales manager.



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Friday, October 18, 2013

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


National Commercial Real Estate News From CoStar Group

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

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Los Angeles, Washington DC, Tampa, South Florida, Cleveland, Orlando, Phoenix, Seattle, Tucson, Atlanta, Portland, and Nashville.
LOS ANGELES
Transwestern Welcomes Smith as New EVP
By Annette Dolley
Transwestern is expanding its


Medical Campus Projects Helps City's Revitalization


National

Medical Campus Projects Helps City's Revitalization

BUFFALO, NY-Healthcare is one of the major drivers of this city's revival, with Buffalo Niagara Medical Campus projects leading the way.



3 Groups In Fannie Mae's New $1B REMIC

WASHINGTON, DC-The GSE added a seven-year group in response to investor demand this time, Josh Seiff tells GlobeSt.com's Erika Morphy.



Thursday, October 17, 2013

Brixmor Eyes $800M Target in IPO


National

Brixmor Eyes $800M Target in IPO

NEW YORK CITY-The shopping center operator’s debut as a publicly traded REIT could be the largest in the retail sector since Simon Property Group’s $840-million IPO in 1993.



Mission Capital Director Moves West


National

Mission Capital Director Moves West

NEWPORT BEACH, CA-Gregg Applefield has relocated here from Mission Capital’s New York City office and tells Carrie Rossenfeld the firm will capitalize on its ability to bring capital to all parts of the country.



Law Firms Reach the Tipping Point

CHICAGO—For the first time in seven years, more than half of US cities with high concentrations of top law firms can be considered landlord-friendly markets.



A Closer Look at Fannie Mae's C-Deal

WASHINGTON, DC-While investors have some exposure to risk, there is also upside for them, Fannie Mae's Laurel Davis tells GlobeSt.com's Erika Morphy.



Wednesday, October 16, 2013

U.S. Property Investors Take Foot Off Gas Even as Leasing Momentum Continues


National Commercial Real Estate News From CoStar Group

U.S. Property Investors Take Foot Off Gas Even as Leasing Momentum Continues

Even as businesses continue to lease office, industrial and retail space at a faster clip, prices for U.S. commercial property leveled off in August as investors reacted to signals that the Federal Reserve was considering plans to begin tapering its elevated bond purchasing activity once the economy fully achieves firm footing.
Although long anticipated, the news caused investors to pause and take stock of the overall economic impact from any...


REITs Prune Portfolios In Pure-Play Push

In the early 2000s, diversification was the big buzzword among REITs, which touted investments in different property types or markets as a smart hedge against risk. Today, being a 'pure-play' investment is all the rage.
More REITs with diverse holdings are stepping up their efforts to specialize in one specific property type or a limited number of markets, and divesting large portfolios of non-core assets in doing so.
The sell-off is fueled...


Major Deals in NY, LA and San Francisco Demonstrate Rising Investor Confidence In Office Market

Several big deal office investments announced this week underscore investors' growing optimism for the foremost segment of the nation’s commercial real estate market even as they hope the unsightly spectacle in Washington does little real harm to the recovering economy.
In New York this week, buyers continue to make this one of the top investments markets in the world. So in demand is this market, that existing owners are reluctant to let go of...


Major Office Deals in NY, LA and San Francisco Demonstrate Rising Market Optimism


National Commercial Real Estate News From CoStar Group

Major Office Deals in NY, LA and San Francisco Demonstrate Rising Market Optimism

Several big deal office investments announced this week underscore investors' growing optimism for the foremost segment of the nation’s commercial real estate market even as they hope the unsightly spectacle in Washington does little real harm to the recovering economy.
In New York this week, buyers continue to make this one of the top investments markets in the world. So in demand is this market, that existing owners are reluctant to let go of...


Grosvenor Pays $167.5M for Seattle Office Portfolio

Grosvenor Americas has acquired an 11-building office portfolio in Seattle, WA from developer Schnitzer West for $167.5 million, or about $235 per square foot.
The properties, totaling 712,460 square feet of class A office space in the Bothell/Kenmore submarket of King County, are part of the 125-acre Schnitzer North Creek office campus, comprised of 24 buildings totaling 1.1 million square feet built in 1999 and 2000. Just 20 minutes from downtown...


Vornado Completes $194M Assemblage in NYC

Vornado Realty Trust (NYSE: VNO) has acquired the land and air rights for its planned development at 220 Central Park South, for $194 million.
Current zoning on the 3.15-acre site would allow for 137,000 buildable square feet at the site, located in the Columbus Circle submarket of Manhattan.
Having completed its assemblage, the buyer will begin construction on a 920-foot luxury residential condominium tower totaling 472,000 square feet...


Resort Sector Gains Momentum


National

Resort Sector Gains Momentum

LOS ANGELES-According to research from JLL, the resort sector is experiencing its best year since 2007 with $2.5 billion dollars in transactions.



Tuesday, October 15, 2013

Senior Housing Prospects Looking Up


National

Senior Housing Prospects Looking Up

CHICAGO—In this UPDATE to last week's story, Greystone's Neal Raburn bolsters the general feeling at last week's NIC conference in Chicago that the outlook for senior housing remains solid.



Fannie Mae Prices Inaugural C-Deal

WASHINGTON, DC-The GSE launched the series with a $675 million offering that will settle on Oct. 24.



Fitch Ratings Places US on Ratings Watch Negative


National

Fitch Ratings Places US on Ratings Watch Negative

WASHINGTON, DC-Like it was in 2011, the ratings agency is displeased with how Washington is handling the nation's fiscal affairs.



Moody's Gives ARCP the Nod with Investment Grade


National

Moody's Gives ARCP the Nod with Investment Grade

NEW YORK CITY-The ratings agency is giving the net lease REIT a stable rating as it prepares for a pair of mergers that will take its enterprise value to $10 billion.



LXP Pays $302M for Leased Fee Interest in NYC Land Portfolio


National Commercial Real Estate News From CoStar Group

LXP Pays $302M for Leased Fee Interest in NYC Land Portfolio

Lexington Realty Trust (NYSE: LXP) has acquired the leased-fee (ground lease) interest in a portfolio of three land parcels located in New York City totaling approximately 0.6 acres, for $302 million.
Magna Hospitality Group sold the three parcels, which are all net-leased to tenants under non-cancellable, 99-year ground leases. The improvements are owned by the tenants, and consist of three high-rise hotels with an aggregate 1,179 guest rooms...


Meyer: Spec Building In 82% of Markets


National

Meyer: Spec Building In 82% of Markets

SAN DIEGO-The industrial sector is bullish on big boxes, and speculative demand is ramping up, but there is little danger of overbuilding, say experts at NAIOP’s Development ’13 in these EXCLUSIVE videos from JLL.



REOs Rise in Three Western States

IRVINE, CA-Oregon, Nevada and California rank among RealtyTrac’s states with the top-10 highest REO increases during third quarter, the firm reports in this UPDATE to an earlier story.



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


National Commercial Real Estate News From CoStar Group

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

Market Report: U.S. Industrial Construction Ramps Up In Third Quarter
More than 140 buildings totaling just under 19 million square feet of industrial space was completed in selected U.S. markets during the third quarter, the largest amount of new space delivered on a quarterly basis so far in 2013.
Developers delivered 129 buildings totaling more than 16.2 million square feet in the second quarter and 132 buildings with a cumulative 15.6 million...


Carlyle Group Steps into Gov't Void with Its Own Economic Stats


National

Carlyle Group Steps into Gov't Void with Its Own Economic Stats

WASHINGTON, DC-In the absence of official government statistics, companies are relying more heavily on private sector stats generated by associations and, now, companies like the Carlyle Group.



Freddie Mac Sells $195M in First Bulk Loan Sale

McLEAN, VA-These are seasoned assets from the GSE's pre-conservatorship days, Freddie Mac's Mike Lipson tells GlobeSt.com's Erika Morphy. "Securitization is still our main vehicle."



CapX Launches Energy Tool

CHICAGO, IL-The new offering will help building owners, contractors and engineers secure financing for their energy savings project.



Foreclosures Hit 36th Month of Decreases

IRVINE, CA-September US home-foreclosure activity is down 27% from a year ago, bringing starts to a seven-year low, RealtyTrac reports.



Monday, October 14, 2013

Retirement Living Redefined in OC


National

Retirement Living Redefined in OC

COSTA MESA, CA-Vivante on the Coast, the first new senior living community built here in 20 years, offers a breadth of amenities not previously seen in Orange County, Nexus’ Cory Alder tells Carrie Rossenfeld.



Workforce Housing In Better Markets

IRVINE, CA-Collaboration among employers, local governments and developers can bring affordable living options to workers in higher-end regions, SL Residential’s Greg Sadick tells GlobeSt.com in this EXCLUSIVE pre-RealShare Apartments interview.



Change Comes to Law Firms' RE Decision-Making


National

Change Comes to Law Firms' RE Decision-Making

WASHINGTON, DC-While the legal sector still maintains a high square-feet-per-employee ratio, firms are looking at the bottom line—and frequently entrusting the decisions to non-attorneys, says C&W’s Sherry Cushman.



Capital Markets: Chinese Investors Backing Latest Bulk Single-Family Rental Purchases


National Commercial Real Estate News From CoStar Group

Capital Markets: Chinese Investors Backing Latest Bulk Single-Family Rental Purchases

Reven Housing REIT Inc. agreed to purchase a portfolio of 170 single-family homes in the Houston metropolitan area from Red Door Housing LLC and WFI Funding Inc.
The total contract purchase price is $13.4 million and the properties collectively encompass 242,964 rental square feet, of which 129 of the properties are subject to one-year leases with tenants, 33 properties are subject to month-to-month leases with tenants, and the remaining eight...


Closures & Downsizings: Safeway Selling Chicago To Pay for Canadian Move

Safeway has decided to exit the Chicago market. As part of the plan, the national grocery chain has already sold four of its Dominick's stores in the greater Chicago area to New Albertsons Inc., which operates Jewel-Osco grocery stores in the region.
Safeway has approximately 68 other stores in that market, all of which are also being put up for sale.
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“Shortly after I assumed my role as CEO, we...


Comparing Global CRE Pricing: Why the Grass Isn’t Always Greener

By: Fred Wu, Ph.D.
It is sometimes said that the grass is always greener on the other side of the fence. However, for U.S. investors in commercial real estate, the best opportunities may be right here at home, rather than in the fast-growing Asia Pacific region or the troubled Eurozone.
This, at least, seems to be the case for real estate traded in the public stock markets.(1)
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Exhibit 1 compares...


Friday, October 11, 2013

A&G Realty Hires Mike Matlat



National



A&G Realty Hires Mike Matlat


MELVILLE, NY-The firm is looking for the 2-year veteran to bring in non-retail tenants looking to occupy space in shopping centers or other unconventional locations.





Platform Brings Crowdfunding to CRE Entrepreneurs



National



Platform Brings Crowdfunding to CRE Entrepreneurs


NEW YORK CITY-Having been beta tested on nine projects across the US, GroundBreaker is now available for public use, GlobeSt.com has learned exclusively.





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



National Commercial Real Estate News From CoStar Group



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


It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Cincinnati, Raleigh, Southern Connecticut, San Francisco, Tampa, Dallas, Indianapolis, St. Louis, Washington DC, Long Island, Atlanta, and Northern New Jersey.
CINCINNATI
Cassidy Turley Names Three to Principal
By Bryce Meyers



$37M Outpatient Center Under Construction




National





$37M Outpatient Center Under Construction



LOS ALAMITOS, CA-The need for medical office space prompts Pacific Medical Buildings in San Diego to move forward on its 70,000-square-foot MOB at Los Alamitos Medical Center in Orange County.











Foreign Capital Scarce among HCRE Investments



MINNETONKA, MN-Healthcare Real Estate Insights cites a report from Real Capital Analytics, indicating that foreign investment in healthcare real estate fell dramatically in 2012 and has continued into 2013.











Tech Demand Should Traverse US



NEWPORT BEACH, CA-Most markets across the country will feel the effects of tech firms’ demand for creative space, Gary Baragona, Jason Katz and Simon Dillon from CBRE tell GlobeSt.com in this UPDATE to an earlier story.











Are Hospitals Still In Real Estate?



SAN DIEGO-They may not be exiting the business entirely, but increasingly more health systems are relying on brokerage firms to do their real estate legwork, according to speakers at NAIOP’s Development ’13.