May 9, 2008
Wells REIT II Buys AT&T Campus in Sale-Leaseback Deal
Atlanta, GA-based Wells Real Estate Investment Trust II purchased AT&T’s 1.18-million-square-foot, five-building office park in Atlanta’s Buckhead neighborhood in a sale-leaseback deal. The price was undisclosed.
AT&T and its subsidiaries signed new...
May 9, 2008
Updates to Centro Properties' Debt Debacle
Centro Properties Group announced yesterday that its Australian lenders and U.S. private placement note holders agreed to extend the company's deadline on $2.3 billion (AU) and $450 million (US), respectively, in debt to Dec. 15, 2008.
The extensions...
May 9, 2008
UPS Sells CA Distribution Center for $55.5 Million
United Parcel Service Inc. sold the 645,311-square-foot industrial property at 11905 Landon Drive in Mira Loma, CA, to AMB Property Corp., which took title as AMB Institutional Alliance Fund III LP, for $55.5 million or $86 per square foot.
The property...
May 8, 2008
Watch List (May 4-10): Lenders Continue To Tighten Money Supply
In this week’s issue:
-- The Federal Reserve tells us that it is getting harder to get a CRE loan;
-- However, Fitch Ratings says most borrowers with large loans coming due should be able to extend or refinance with little trouble;
-- American Realty...
May 8, 2008
Facility Closures and Layoffs (May 4-10)
This article is excerpted from Watch List, a weekly column of market conditions, company expansions and contractions and real estate investment opportunities.
Pliant Corp. in Schaumburg, IL, plans to consolidate a number of locations: 299 Clukey Drive...
May 7, 2008
Business Expansions, Relocations (May 4-10)
ALMO Distributing Wisconsin leased 107,505 square feet at 7515 N. 81st St. in Milwaukee, WI. It will move from its current site at 4200 N. Port Washington Road this month. Tom Shepherd of Inland Cos. represented Centerpoint Properties. Jim Young of Colliers...
May 7, 2008
Under Contract (May 4-10)
Winthrop Realty Trust announced that the condition to transferring the property at 600 W. Jackson St. in Chicago, IL, a property in its Marc Realty portfolio, has been satisfied and that the sale of the property is expected to occur within the next 90...
May 7, 2008
Stubborn Buyer/Seller Stalemate Hinders Solid Quarter for REIT Earnings
Executives for publicly traded REITs are, for the most part, happy about their first-quarter performance as the latest round of quarterly earnings reports winds down and firms turn their attention to two of the biggest industry events of the year: the...
May 7, 2008
CoStar Green Report: In Cities, Sustainable Mandates Unfold
In this issue of CoStar Green Report:
Los Angeles, Dallas pass green development standards
GE Real Estate snags Energy Star executive
RREEF, Advance Realty Endorse BOMA sustainability program
Liberty Mutual offers green building insurance
Major...
May 7, 2008
Westfield Launches 500,000-SF Office Project in Denver
Westfield Development Co. said it will begin construction on what it described as Denver's first downtown office high-rise development in more than 20 years after Xcel Energy agreed to lease approximately 350,000 square feet in the new building expected...
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