WORLD PROPERTY CHANNEL™ - Local Buzz

Mission Critical Index Finds Broad Industry Demand for Modular Data Centers

2012-02-10T01:49:14Z

A data center industry index, the result of a survey by NxGen Modular (www.nxgenmodular.com) reveals that cost savings and scalability are prompting more data center owners and c-suite technology executives to consider modular data center solutions. The first "Mission Critical Annual Index" indicates that 85% of participants would consider a modular solution in building their next data center.

Lee & Associates Closes $12 Million Industrial Transaction

2012-02-09T17:46:26Z

Lee & Associates has closed a $12 million sale consisting of two industrial buildings in Fountain Valley, Calif. With both properties totaling 113,857 SF, the transaction amount is one of the largest in Orange County this year. Pat Lacey and Jim Snyder of Newport Beach represented the seller, a private real estate owner. Seven Pacific, the buyer and existing tenant, represented itself.

SIOR President Geoffrey Kreusser Urges Government to Energize Private Sector Business

2012-02-08T22:23:58Z

Address at Annual IOREBA/SIOR Joint Meeting Focuses on Broad Range of National and International Issues http://caryl.com/pressreleases.cfm?pressID=3829&homelink=1

Cushman & Wakefield Named Agent for Lehigh Valley Spec Project

2012-02-08T19:44:03Z

Liberty Property Trust has named commercial real estate services firm Cushman & Wakefield, Inc. as exclusive leasing agent for a 1.2 million-square-foot, $62 million speculative industrial property now under construction in Bethlehem, PA. http://www.caryl.com/pressreleases.cfm?pressID=3831&homelink=1

Lee & Associates Transacts $7.8 Million Multifamily Sale

2012-02-08T17:25:47Z

Jeff McGuire, a principal with Lee & Associates-LA North/Ventura, Inc., represented the buyer and seller in the sale of Wood Creek Apartments for $7.8 million. The 71-unit property, at 20311 Sherman Way in Winnetka, Calif., sold at $161 per square foot, and a GRM (gross rent multiplier) of 9.26. Price per square foot and GRM are among the highest for a rent-controlled property in this market.

Mountain Real Estate Capital And L Star Acquire Brightleaf at the Park

2012-02-07T01:28:55Z

Mountain Real Estate Capital and L Star Management are proud to announce the acquisition of Brightleaf at the Park in Durham, N.C. A master planned community in the Triangle, Brightleaf's proximity to Research Triangle Park makes it highly sought after. The acquisition is comprised of 900 residential lots ranging from townhouses to single-family lots. The terms of the deal were not disclosed.

High Demand, Debt-Equity Imbalance Create Complexities For 2012

2012-02-06T22:11:20Z

A desire for alternative, fixed-income yields beyond that available in the bonds and government securities, and recent turmoil in sovereign debt markets has created incredible demand among commercial real estate investors. At the same time, the New York tri-state region remains flush with equity capital. http://caryl.com/pressreleases.cfm?pressID=3794&homelink=1

Cushman & Wakefield Inks 114,000-Sq.-Ft. Lease in Casa Grande, Ariz.

2012-02-06T20:56:26Z

Commercial real estate services firm Cushman & Wakefield, Inc. has orchestrated a 114,000-square-foot industrial lease at Clarion Partners' Central Arizona Distribution Center in Casa Grande, marking one of the largest lease commitments in years for Pinal County. http://www.caryl.com/pressreleases.cfm?pressID=3827&homelink=1

Lee & Associates Negotiates $4.1 Million Retail Sales Transaction

2012-02-06T18:18:57Z

Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $4.1 million sales transaction for a 5,107 SF retail building located at 44575 Avenida de Missiones in the southern California town. The deal comes on the heals of two other retail deals completed by Bielatowicz in the Temecula area, reflecting an increase in tenant activity.

Cushman & Wakefield Selected to Market One Pepsi Way for Sale

2012-02-02T15:39:47Z

Cushman & Wakefield, Inc's Metropolitan Area Capital Markets Group has been retained to market One Pepsi Way in Somers for sale. The 206-acre campus and its 540,000-square-foot, Class A office building serve as the long-time corporate headquarters of Pepsi Bottling Group. http://www.caryl.com/pressreleases.cfm?pressID=3822&homelink=1

Grosvenor Fund Management Appoints Donohue, Kilroy

2012-02-01T22:05:44Z

Grosvenor Fund Management (GFM) has appointed William P. Donohue, Jr. to serve as Managing Director and Head of Asset Management in the Philadelphia, PA office. Robert R. Kilroy, CFA, who joined GFM in 2009 as Managing Director and Chief Portfolio Manager, has been appointed Managing Director and Head of Separate Accounts.

Judge Rules MTA Faces Millions More in Damages to Riese Organization in Fulton Street Condemnation

2012-01-31T18:07:50Z

State Supreme Court Justice Martin Shulman ruled against the Metropolitan Transportation Authority on its use of eminent domain in taking 194-196 Broadway as part of the Fulton Street Transit Center project. Shulman ruled that three foodservice tenants displaced by the condemnation can recover about $15 million in damages for the value of trade fixtures lost. www.rosenbergestis.com

New Jersey Industrial Leasing Up, Fundamentals Improved in 2011

2012-01-31T15:58:48Z

Tenants signed nearly 23.4 million square feet of new industrial leases in Northern and Central New Jersey in 2011, representing the highest volume since before the recession, according to year-end statistics for the U.S. industrial market released today by commercial real estate services firm Cushman & Wakefield, Inc. http://www.caryl.com/pressreleases.cfm?pressID=3818&homelink=1

Levin 2011 Post-Holiday Survey Finds Steady Retail Sales Improvement

2012-01-31T14:42:20Z

Strong seasonal sales volume and higher 2011 holiday consumer traffic support a general feeling of optimism within the retail community, according to the latest survey from Levin Management Corporation of North Plainfield. http://caryl.com/pressreleases.cfm?pressID=3820&homelink=1

Lee & Associates Transacts $4.8 Million Sale of Retail Office Building From Lowe's

2012-01-30T18:13:10Z

The Lee & Associates-LA North/Ventura team of Jay Martinez, Stephanie Skrbin and Mike Tingus executed the sale of a 38,788-square-foot mixed-use building that had been owned by Lowe's Companies, Inc. (NYSE: LOW) in a transaction that reflects the continuing challenges of financing investment sales. The sale price was $4,875,000. The buyer is an entity of Valley College of Medical Careers.