Industrial
Golden State’s Optimism Yields Development Plans: Allen Matkins/UCLA Report
Optimism about the CRE sector in California has been strong enough, for long enough, that new development is expected to pick up this year, especially in the industrial sector. The outlook is also brightening for office and multi-family, the latter of which was included in the semiannual report for the first time.
Terreno Buys Three Silicon Valley Buildings for $33.7M
Terreno Realty Corp., of San Francisco, has acquired three multi-tenant industrial buildings in Sunnyvale, Calif., totaling about 172,000 square feet for a purchase price of approximately $33.7 million.
Economy Watch: Most Industries Create Few Jobs in June, but Retail Vacancies Drop, Rail Shipments Mixed
June’s weak employment numbers capped a weak quarter overall for U.S. job growth. The Association of American Railroads measured the number of U.S. rail carloads originated in June 2012 at about 1.14 million, down 1.3 percent, but the intermodal volume at just over 996,000 containers and trailers, up 5.2 percent. And Reis Inc. reported the vacancy rate for regional U.S. malls dropped to 8.9 percent in the second quarter.
Pittsburgh Penguins, University of Pittsburgh Plan for Sports Complex in Cranberry
Adriana Pop, Associate Editor The Pittsburgh Penguins along with the University of Pittsburgh Medical Center (UPMC) are planning a joint practice rink and sports medicine complex in Cranberry. According to the patch.com, the proposed 150,000-square-foot complex would be located in the Summit of Cranberry Woods business park off Route 228, near Hilton Garden Inn. Penguins […]
International Paper Operations Sold; Warehouse Purchased For $7.5 M
By Eliza Theiss, Associate Editor International Paper, a global paper and packaging company, has announced via a press release that it has completed the sale of three of its operations as part of a February 2012 settlement agreement with the U.S. Department of Justice, this following the February 2012 acquisition of Temple-Inland Inc. All three […]
CoStar Q2 Report: Slow Improvement in Office; Retail Slides
Fundamentals in most commercial real estate sectors improved or held steady during the second quarter, as per CoStar Group’s upcoming national report. But there’s always a surprise and the last three months were no exception.
Maxim Invests $65M to Expand San Antonio Facility
By Camelia Bulea, Associate Editor Maxim Integrated Products Inc., a Fortune 1000 semiconductor company headquartered in Silicon Valley, will invest approximately $65 million to expand its semiconductor fabrication facility in San Antonio. Purchased in 2003 from Philips Semiconductors Inc., the 380,000-square-foot facility will also undergo an equipment upgrade as part of the same investment, according […]
Kearny Buys $89M Loan Portfolio
With the acquisition of an $89 million loan portfolio, Kearny Real Estate Co. and Morgan Stanley Real Estate Investing are more than halfway to their goal of purchasing $1 billion in loans.
The Winners: CPE’s 2012 Distinguished Achievement Awards
CPE is pleased to announce the winners of the second-annual Distinguished Achievement Awards, recognized for their ability to complete deals and projects in the face of last year’s recovering economy.
Economy Watch: Pending Home Sales, Durable Goods Orders Rise but Manufacturing Drops
The NAR’s Pending Home Sales Index rose 5.9 percent to 101.1 in May, while U.S. durable goods orders went up 1.1 percent. But the Midwest manufacturing output decreased 1 percent.