News
Voit Continues Las Vegas Expansion
Voit Real Estate Services has tapped George Okinaka as a senior associate in its Vegas office as part of its continued effort to spread its wings locally.
Economy Watch: Foreclosures, Jobs, Prices
Foreclosures took a dip in February, according to RealtyTrac. Foreclosure filings — including default notices, scheduled auctions and bank repossessions — were reported on 225,101 U.S. properties in February, a 14 percent month-over-month decrease. Year-over-year, the drop was 27 percent.
Duke Secures 168,000-SF Tenant
Duke Realty Corp. has rounded up a tenant to occupy space at Grand Lakes I, a 755,400-square-foot, state-of-the-art bulk warehouse facility in Grand Prairie, Texas, less than 10 miles west of Dallas.
1 MSF Phoenix Office Property Changes Hands
In one of the largest single commercial real estate deals in downtown Phoenix, the Arizona Center has come under new ownership in a $136.5 million all-cash transaction. General Growth Properties Inc. sold the property to CommonWealth REIT.
Electrolux Takes 600,000 SF in Georgia
The deal is part of the appliance manufacturer’s expansion in Georgia; earlier this year the firm announced plans to locate an expanded customer care center in Augusta.
Economy Watch: Billionaires, Loans, Oil
Who in the worldwide real estate industry has the most massive fortune? Forbes magazine provided the answer with its annual billionaire ranking: “Kwok Thomas & Raymond & family,” as the magazine puts it, which isn’t an individual but a clan based in Hong Kong.
MBA Report with David Hendrickson
In this second of a three-part series, David Hendrickson, managing director of Real Estate Investment Banking at JLL, addresses how an influx of capital will impact the multi-family sector.
HP Commits to 1.4 MSF at Cajon Distribution Center
In one of the largest industrial leases ever in the greater Los Angeles area, Hewlett Packard Co. has signed a deal to occupy the entire premier San Bernardino business park.
Dune, TDI Form $1B Multi-Family JV
Together, they will mine core markets from coast to coast for development sites in locations where demand for premier rental properties is on the upswing and for opportunities to snap up Class A apartment assets.
Summit Repositioning Raritan Plaza I
The nine-story, 262,500-square-foot office property will receive lobby and elevator renovations, new signage, restroom renovations and upgrades and exterior work as well as security and energy-efficient lighting enhancements and touch-screen directories. A total dollar value for the work has yet to be determined.