News
L.A. Luxury Residential Market Attracts Growth; Green Dot Relocates HQ to Pasadena
By Alex Girda, Associate Editor
Even in the face of a downturn, some trends remain ever-present in the Los Angeles residential market. Take the demand for high-end condominium and detached residential properties. As the annual Swanepoel Trends Report notes, the luxury […]
Green Shoots Emerge for Salt Lake City Market
By Alex Girda, Associate Editor Salt Lake City’s real estate market showed strong signs of a comeback in 2011 after several tough years, and 2012 shows additional, if modest potential. The office vacancy rate last year dropped from 17.1 percent to 15.3, with absorption reaching a healthy 652,000 square feet , a CBRE Group Inc. […]
Hines Takes 255 KSF Minnesota Office Building for $70M
Hines Global REIT has picked up a premier 254,900-square-foot office property in Minneapolis with a $69.5 million sale-leaseback transaction with Cargill Inc.
Dees Stribling's Economy Watch Weekly
The year was off to a surprisingly good start, at least for the domestic economy. CPE‘s economic analyst Dees Stribling gives his podcast for the week ending Jan. 6, 2012.
175 Kent Ave. Sells for $76M; LaGuardia Could Get New Terminal Building
By Veronica Grecu, Associate Editor
A high-end rental property located at 175 Kent Avenue in Williamsburg, Brooklyn, was sold to Chicago-based Equity Residential for $76 million, reports Crain’s New York Business. The building was completed in 2011 by the Chetrit Group […]
Banah Moves HQs to Hialeah, Signs Top Lease
By Georgiana Mihaila, Associate Editor
Terreno Realty Corp. landed what is considered to be one of 2011’s biggest leases by signing a deal with sugar producer Banah International for 300,000 square feet of space. The South Florida Business Journal reports that […]
Retail Roundup: Jenkins Sells 50 KSF D.C. Asset, Terramar Acquires Washington State Center for $35M
From coast to coast, retail transactions are closing one after the other. Among the grocery-anchored assets involved in the first deals of 2012 are the 50,600-square-foot Jenkins Row Retail in Washington, D.C., and the 130,800-square-foot Canyon Park Place in suburban Seattle.
Whitestone REIT Pays $29M for Scottscale Retail Center
By Alex Girda, Associate Editor
In a $28.8 million deal, Westwood Financial Corp. has sold a 113,000-square-foot community center in Scottsdale to Houston-based Whitestone REIT, the Phoenix Business Journal reported. For Whitestone, the deal marked the REIT’s seventh acquisition in the […]
Economy Watch: December Saw Stronger Job Growth, Apartment Vacancies Drop in '11
The U.S. economy added a relatively strong 200,000 jobs in December, according to the BLS. Apartment vacancies dropped 5.2 percent nationwide in the fourth quarter of 2011. And ISM’s Non-Manufacturing Index grew 0.6 percent from November to December.
CRA Purchases Louisville Multi-Family Portfolio for $97M
Continental Realty Advisors is keen on Kentucky, as evidenced by its recent purchase of a 1,200-residence apartment portfolio in Louisville. The multi-family housing owner and institutional fund manager acquired the group of four assets from Camden Property Trust for $97 million.