News

SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S.

April 12, 2012

Costar… Cross-border investment in real estate reached its highest level in three years in 2011, with New York, Washington, Los Angeles, San Francisco and Chicago accounting for five of the top 10 international markets. However, hopes for a massive influx of foreign capital into U.S. property markets by risk-averse international investors has so far gone unfulfilled. That may be changing, according to recent separate reports from Property and Portfolio… More: SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P

March 29, 2012

Costar… With new CEO and ‘CIO’ officers at the helm, Hewlett Packard (HP) is realigning its organizational structure – a portion of which has it taking global real estate decision-making away from its financial managers and putting it into the hands of its techies. The move likely means that the real estate consolidation the company said was largely completed last year may not be over. HP’s global real estate footprint encompassed nearly 70 million… Go here to see the original: Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014

March 29, 2012

Costar… Even among the stream of positive real estate surveys and forecasts recently, the one issued this week by the Urban Land Institute (ULI) stands out. Expressing the consensus views of 38 leading real estate economists and analysts from across the U.S., ULI reported commercial real estate market conditions and the overall economy is expected to see broad improvement over at least the next two years as the recovery cycle kicks into overdrive and shifts… See original here: ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Real Estate, Restaurant Franchise Growth Starting To Heat Up

March 29, 2012

Costar… There are signs of an improved outlook in certain economic areas where franchises are traditionally strong performers, such as the restaurant and business and personal services industries, according to the International Franchise Association (IFA) and GE Capital Franchise Finance. The IFA released its first quarterly update to its economic outlook prepared by IHS Global Insight in December 2011. IFA is updating its Franchise Business Economic Outlook… Read more: Real Estate, Restaurant Franchise Growth Starting To Heat Up Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Wood Partners Sells Annapolis Multifamily for $68M

March 28, 2012

Costar… Wood Partners sold 1901 West St. in Annapolis, MD, to Pantzer Properties for $68 million or $226,667 per unit. The 300-unit multifamily building was built in 2006 and includes 19,211 square feet of fully leased retail space on the ground floor. Freddie Mac provided a $52 million acquisition loan. Dave Nachison, Alan Davis and Brenden Flood of HFF represented the seller. The buyer had no representation. Please see CoStar COMPS #2276642… See the article here: Wood Partners Sells Annapolis Multifamily for $68M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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BOMA 360 Grows to 420

March 26, 2012

Costar… A total of 420 buildings in 55 markets have now received the coveted BOMA 360 designation, which recognizes commercial properties for excellence in overall building operations and management. BOMA International went on to name the top five companies, each with 20 or more commercial buildings across the country to have reached BOMA 360 status:CBRE – 59 buildingsBrookfield Properties – 31 buildingsPiedmont Office Realty Trust – 24 buildingsParmenter… Read more here: BOMA 360 Grows to 420 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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UPDATE: Shoppes at Branson Hills Trade for $50.6M

March 26, 2012

Costar… Inland Diversified Real Estate Trust, Inc. has closed on its acquisition of The Shoppes at Branson Hills, a 447,725-square-foot regional power center located in Branson, Missouri for an aggregate price of $50.6 million. The shopping center is located on Highway 65 at Branson Hills Parkway in the popular family destination town of Branson. The existing buildings are 100 percent leased at time of sale, anchored by national retailers including Kohl… Follow this link: UPDATE: Shoppes at Branson Hills Trade for $50.6M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 18-24)

March 23, 2012

Costar… This week’s People of Note includes the following markets: Charlotte, Chicago, Dallas/Fort Worth, New York City, Retail, San Francisco and South Florida. DALLAS/FORT WORTH Local Investment Sales Broker Moves to Cushman & Wakefield By CoStar Research Scot Farber joined Cushman & Wakefield in Dallas where he will focus on the sale of office and industrial properties as part of the firm’s investment sales group. Farber, Read more from the original source: CoStar’s People of Note (March 18-24) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale

March 22, 2012

Costar… Grubb & Ellis Co. has canceled a bankruptcy auction to sell off its assets, leaving BGC Partners, LP as the only bidder and clearing the way for a court hearing on Thursday to approve the sale. Santa Ana, CA-based Grubb & Ellis filed for bankruptcy protection on Feb. 20 and entered into a letter of intent in which BGC Partners, acting as a stalking horse buyer, acquired the brokerage’s outstanding secured debt and submit the minimum bid to acquire… See more here: Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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As Investors Shift Focus, CRE Sales Volume Falls Off

March 22, 2012

Costar… While February is always the slowest month of the year for commercial real estate investment sales, activity last month dropped off sharply from sales volume in January — but more importantly sales volume also declined from a year ago. While CoStar has not completely closed the books on its COMPs research for February 2012 and the sales volume for that month will still go up slightly–the gap is such that sales volume for February 2012 is unlikely… See more here: As Investors Shift Focus, CRE Sales Volume Falls Off Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CMBS Market Heats Up, So Too Do Credit Risks

March 22, 2012

Costar… The CMBS market continued to heat up this week as securitization firms rolled out four new offerings totaling more than $3 billion. Those deals are in addition to three offerings totaling $2.67 billion that sold earlier this month. The offerings are another sign of a relaxation from the extremely tight credit conditions that smothered investment activity following the Great Recession, according Moody’s Investors Service. At the same time, the newest… Read more: CMBS Market Heats Up, So Too Do Credit Risks Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Private Equity Funds Expect CRE Return Growth To Slow

March 22, 2012

Costar… One-year returns from private equity real estate funds have shown remarkable improvement since the real estate bubble burst in the latter half of the decade, despite under-performing every other major asset class, according to PitchBook/BMC Group’s annual private equity report. PitchBook is an independent private equity news and data provider. BMC Group is a leading global provider of information management solutions. Real estate funds were… See the original post here: Private Equity Funds Expect CRE Return Growth To Slow Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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GSA Buys Columbia Plaza Office Bldg. for $99.6M

March 21, 2012

Costar… The U.S. General Services Administration acquired the 511,500-square-foot Columbia Plaza Office Building in Washington, DC, from a partnership between Normandy Real Estate Partners and Westbrook Partners. The property traded for $99.59 million or $195 per square foot. The 15-story structure at 2401 E. St. NW was built in 1974 and renovated in 1999. The U.S. Department of State’s Diplomacy in Action agency has occupied the building since 1992 under… Read the rest here: GSA Buys Columbia Plaza Office Bldg. for $99.6M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Don’t Look Now But Investor Interest Reviving In Warehouses

March 21, 2012

Costar… While the heated apartment market continues to grab headlines in the ongoing CRE recovery, a number of investors are quietly turning their attention to the warehouse sector anticipating a strengthening economic rebound as the U.S. jobs picture continues to improve, leading to increased consumption and consumer spending, according to the latest PwC (PricewaterhouseCoopers) Real Estate Investor Survey. “Warehouse demand is rapidly picking up, especially… Read more here: Don’t Look Now But Investor Interest Reviving In Warehouses Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Transwestern Forms Global Alliance with BNP Paribas Real Estate

March 20, 2012

Costar… BNP Paribas Real Estate has strengthened its presence in the U.S. by signing an alliance agreement with Transwestern. The alliance agreement covers the transaction, valuation and corporate real estate consulting business lines and provides both firms the ability to provide real estate and transactional services for clients in 181 cities in 30 countries – 150 where BNP Paribas Real Estate is located and 31 where Transwestern is present. Bernard… See more here: Transwestern Forms Global Alliance with BNP Paribas Real Estate Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Shell Taps Pittsburgh Area For Proposed $2B Chemical Plant

March 16, 2012

Costar… Shell Oil Co. has picked a site in Beaver County, PA over locations in two other states for a proposed $2 billion petrochemical complex that could create more than 10,000 permanent jobs and another 10,000 construction jobs. Shell Chemical LP signed a land option agreement with Horsehead Corp. to evaluate the site in Potter and Center Townships near Monaca, PA, about 35 miles northwest of Pittsburgh. The facility would include an ethane “cracker… Link: Shell Taps Pittsburgh Area For Proposed $2B Chemical Plant Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy

March 15, 2012

Costar… Distressed trading volume has stabilized but continues to remain at elevated levels, increasing by approximately 2% last year over 2010. However, a surge in non-distressed property trading driven by improving economic conditions has begun to mitigate its impact on commercial real estate pricing levels overall. According to CoStar Group data, the volume of distressed transactions in December 2011 remained well above the average monthly volume for… See the original post here: Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Plenty of Recession Damage Still Left To Undo

March 15, 2012

Costar… The commercial real estate rubble still left over from the Great Recession continues to exact a punishing toll on property values and owners’ and lenders’ books. In this statistical state analysis, CoStar Group has identified 168,580 office, flex, industrial and retail properties in its national property database with a vacancy rate of 60% or more. The number of properties by type at this level of vacancy distress is as follows: Retail: 67,525… Go here to see the original: Plenty of Recession Damage Still Left To Undo Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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PG&E’s Inks 250,000-SF Office Lease in San Ramon

March 14, 2012

Costar… Pacific Gas and Electric plans to move the majority of its gas operations to Bishop Ranch, a 585-acre business community in San Ramon, CA. The utility supplier finalized a 10-year lease for 250,000 square feet of office space at 6121 Bollinger Canyon Road. Built in 2003, Building Z is a five-story, 250,000-square-foot office building in in the East Bay/Oakland market. Sunset Development Co. owns the LEED Gold certified property. Bishop Ranch… Read more here: PG&E’s Inks 250,000-SF Office Lease in San Ramon Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff

March 8, 2012

Costar… CMBS markets are ramping up for a blast of activity that they haven’t seen since the first half of last year. In the past few days, three new deals totaling $2.67 billion have priced or hit the streets, part of an expected larger volume of spring deals to come. “The roughly $11 billion of CMBS deals lined up through April puts the market on pace for PPR’s prediction of $35 billion in 2012,” says John O’Callahan, capital market strategist for CoStar… See original here: As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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