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2/2/2012 - CoStar's People of Note (Jan. 29-Feb. 4)
This week's People of Note includes the following markets: Chicago, Dallas/Fort Worth, Los Angeles, Milwaukee/Madison, New York City, Philadelphia, Pittsburgh, South Florida, Washington, DC.
LOS ANGELES
Cockrum Joins Lowe Enterprises Investors as SVP
By Laurie Forbes
Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in th
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2/2/2012 - GREEN LEAD | Green Building News from CoStar
GREEN LEAD is a column on environmental and sustainable design and construction, best practices for green building maintenance and operations, economic impact on developers and owners, new LEED and Energy Star building certifications, and trends in the Green Building movement.
Send in your Green News Leads to news@costar.com
Latest Research on Green Real Estate Now Available
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2/2/2012 - Cockrum Joins Lowe Enterprises Investors as SVP
Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in the Los Angeles office of the real estate investment management firm.
“LEI forecasts an attractive real estate investment environment for its targeted strategies. Over the last year we have added several talented professionals to our team to position LEI to take advantage of these opportunities...
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2/2/2012 - Sitzenstatter Accepts VP Post at Voit
Carol Sitzenstatter joined Voit Real Estate Services as vice president of leasing and sales. Sitzenstatter will focus on the office and retail markets for the Sacramento team.
The 30-year commercial real estate veteran specializes in brokerage, asset management and property management in various Northern California markets. She was most recently vice president of leasing and sales at Colliers International. Sitzenstatter closed more than 60 deals...
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2/1/2012 - Latest Potential Investor In Grubb & Ellis Emerges From Talks Without Agreement
A two-week period of exclusive negotiations between Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission.
Under the agreement, Grubb & Ellis provided an exclusive right to negotiate for BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of Santa Ana...
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2/1/2012 - Latest Potential Investor In Grubb & Ellis Emerges From Talks Without Agreement
A two-week period of exclusive negotiations between Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission.
Under the agreement, Grubb & Ellis provided an exclusive right to negotiate for BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of Santa Ana...
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2/1/2012 - Real Estate Holds Up its End in CalPERS, CalSTRS 2011's Minimal Returns
The nation's two largest public pension funds had trouble pulling in returns in 2011. Thankfully, though, real estate wasn't the culprit.
The California Public Employees' Retirement System (CalPERS) earned a small, but positive 1.1% return for the 12-month period ended Dec. 31, 2011.
According to CalPERS investment staff, the fund experienced a 7.9% loss in its public equity asset classes due to the high volatility of global equity markets in...
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2/1/2012 - Real Estate Holds Up its End in CalPERS, CalSTRS 2011's Minimal Returns
The nation's two largest public pension funds had trouble pulling in returns in 2011. Thankfully, though, real estate wasn't the culprit.
The California Public Employees' Retirement System (CalPERS) earned a small, but positive 1.1% return for the 12-month period ended Dec. 31, 2011.
According to CalPERS investment staff, the fund experienced a 7.9% loss in its public equity asset classes due to the high volatility of global equity markets in...
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2/1/2012 - Real Money: Goldman Sachs Hits the Street with $1.15 Bil. CMBS Deal
Goldman Sachs is the putting out the first new CMBS offering of 2012.
GS Mortgage Securities Trust 2012-GC6 is a pool of 80 fixed-rate loans totaling $1.15 billion and backed by 127 properties.
The loans were originated by Goldman Sachs Mortgage Company (45.8%), Citigroup Global Markets Realty Corp. (45.1%), and Archetype Mortgage Funding ILLC (9.1%).
According to Moody's Investors Service, the concentration of multifamily and manufacturing...
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2/1/2012 - Two Tenants Sign New Deals at 550 Kearny
Highridge Partners and Montgomery Capital Partners signed two new tenants to office space at
550 Kearny St. in San Francisco.
iCrossing, a diversified media company, leased 19,119 square feet on the sixth floor and 6 Waves, an international publisher of gaming applications, signed a 28,383-square-foot lease for six years to occupy the fourth floor.
The 10-story, 196,630-square-foot office building was built in 1975 and is in the financial...
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2/1/2012 - Two Tenants Sign New Deals at 550 Kearny
Highridge Partners and Montgomery Capital Partners signed two new tenants to office space at
550 Kearny St. in San Francisco.
iCrossing, a diversified media company, leased 19,119 square feet on the sixth floor and 6 Waves, an international publisher of gaming applications, signed a 28,383-square-foot lease for six years to occupy the fourth floor.
The 10-story, 196,630-square-foot office building was built in 1975 and is in the financial...
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2/1/2012 - Smile Business Products Buys Flex for $2.9M
Smile Business Products Inc. purchased 4511-4525 Auburn Blvd. in Sacramento, CA, from Fleig Family LP for $2.88 million or $76 per square foot.
The two-story building consists of 38,110 square feet on 2.59 acres.
Rich Ellsworth of Cornish & Carey Commercial Newmark Knight Frank represented both sides.
For further details see CoStar COMPS #2234353.
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2/1/2012 - Safeway Pays $16.7M for Santa Monica Vons
Safeway Inc. purchased the 27,396-square-foot retail building at 1311 Wilshire Blvd. in Santa Monica, CA, from Williams Family Partnership for $16.7 million, or about $609 per square foot.
At the time of sale the buyer, doing business as Vons, was leasing the property and decided to purchase it. The building was completed in 1966 and is on 1.38 acres.
Chris Sands of Keller Williams Commercial represented both parties.
For more information...
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2/1/2012 - Basin Street Picks Up Stone Point Plaza for $16.8M
Basin Street Properties purchased 1420 Rocky Ridge Drive in Roseville, CA, for $16.83 million, or about $176 per square foot.
Built in 2005, the three-story office building measures 95,612 square feet on 7.3 acres. The property includes more than 500 parking spaces and was 95 percent occupied at the time of sale.
Breanna Hegseth and Craig Brinitzer of Cornish & Carey Newmark Knight Frank represented the seller and Roman Nelson of Palmer Capital...
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1/31/2012 - LA Fitness Takes 90,000 SF at The Michelson
LA Fitness International LLC has agreed to lease 91,023 square feet at 3161 Michelson Dr. in Irvine, CA for 10 years beginning in June 2012. The new space will be used as the company’s global corporate headquarters.
The Michelson Building will now be 93 percent occupied. The 20-story office building is a LEED Gold-certified, 553,000-square-foot high rise with state of the art amenities and panoramic views of the Pacific Ocean. It was built in...
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