Allison Landa
Voit Spearheads 85,053 SF Southern California Sale
The property includes an 82,053-square-foot building and a 3,000-square-foot building. It is situated on 4.7 acres. It was purchased by diamond manufacturing firm SH Trading, Inc., the United States subsidiary of South Korea-based Shinhan Diamond Corp. The firm will use the space for local manufacturing and distribution.
10-Year Energy Retrofit Program Would Save Commercial Buildings $41.1B Annually
The green movement is still strong, but most owners and managers of commercial buildings over 10 years old are missing out on a great money-saving opportunity, according to Pike Research’s “Energy Efficiency Retrofits for Commercial and Public Buildings” report. If the commercial property sector were to follow a 10-year energy retrofit agenda, it could ultimately reap over $41.1 billion in savings each year.
Economy Watch: Existing Home Sales Off, But Not as Bad as 2009 Yet
The National Association of Realtors reported on Thursday that existing home sales fell 5.1 percent to an annualized rate of 5.37 million. No one was surprised by this contraction, considering that the plug has been pulled on the federal homebuyer tax credit, but NAR did point out that sales were nevertheless 9.8 percent higher than in June 2009.
Kiva Takes 163,000 SF in Massachusetts
David Pergola and Jason Levendusky of CB Richard Ellis represented Divco West and Taurus, while Brooks Murphy and Sean Lynch of Jones Lang LaSalle represented Kiva.
Christian Science Church Revitalization of Boston HQ to Include Addition of 950,000 SF
Surrounded by Boston’s Back Bay, Prudential, South End and Fenway neighborhoods, the Plaza encompasses 14.5 acres and offers 10 acres of open space that is accessible to the public. Among the property’s seven existing buildings are two centerpiece structures, the iconic Original Mother Church, built in 1894 and the Extension church, which was developed in 1906. As per the proposal, all existing buildings will remain intact.
TD Ameritrade Breaks Ground on 475,000-SF Office Building in Omaha
TD Ameritrade currently leases an aggregate 125,000 square feet in three office structures at the site where the online stock trading and investment company’s new building will be erected. At completion, the corporate campus will occupy a total of 40 acres in the Old Mill area of west-central Omaha.
Cole Acquires Texas Shopping Center for $56.5M
Built in 2006, Atascocita Commons is 98.5 percent leased to a mix of national and regional retail tenants, including Kohl’s and TJ Maxx/HomeGoods. It is located 12 miles east of George Bush Intercontinental Airport and 25 miles northeast of Houston’s central business district.
Economy Watch: “Unusually Uncertain” Enters the Lexicon of the Recession
Federal Reserve Chairman Ben S. Bernanke memorably summed up the recovery as “unusually uncertain” in testimony before the Senate Banking Committee on Wednesday, very shortly after President Obama signed the financial reform bill. Mostly, though, the chairman didn’t point out anything not generally understood about the economy: growth is slow, and it will be a long time before unemployment eases–the Fed expects to see 7 percent to 7.5 percent unemployment by the end of 2012, for instance.
JLL: Global Real Estate Investment Doubles Year over Year
Has recession solidified into recovery? According to new research from Jones Lang LaSalle’s International Capital Group, preliminary global direct commercial real estate volumes reached $66 billion in the second quarter, nearly double the levels of the market bottom a year ago.
Fund Snaps Up 725,000 SF of Premier Dallas Office Space
The CBRE Strategic Partners U.S. Value 5 fund, a commingled private equity real estate fund sponsored by Los Angeles-headquartered CB Richard Ellis Investors, has purchased the three-building Preston Commons and Sterling Plaza from Chicago-based real estate investment firm Capri Capital Partners L.L.C.