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KBS REIT Aquires Colorado Office Portfolio
KBS Strategic Opportunity REIT, Inc. acquired the six-building Westmoor Center office portfolio at 10055-10385 Westmoor Dr. in the submarket of Westminster, CO, between Denver and Boulder. CBRE Global Investors sold the portfolio for $86 million, or about...

In The Pipeline: CoStar Development & Construction News for June 16 - 22
Port of Seattle Taps Panattoni for 87-Acre Business Park The Port of Seattle has chosen Panattoni Development Co., Inc. to develop the Des Moines Creek Business Park project on 87 acres south of Seattle-Tacoma International Airport. The Newport Beach...

Building Cost Index Rises As Construction Pace Gradually Quickens
Non-residential construction costs rose in the second quarter as larger urban markets appear to be expanding more rapidly than other regions, according to Turner Construction Co.'s most recent Building Cost Index. Turner's Second Quarter 2013 Building...

REITs Exploring Options for Their Newly Raised Wealth
Following a year in which REITs raised a record amount of money in the capital markets, and a first quarter that saw fund raising exceed the earlier full-year period, some of those REITs are now starting to review alternatives for what to do with their...

Appreciation Shifts from Cap Rate Compression to Real Growth
CoStar's Property and Portfolio Research (PPR) division is forecasting that the wave of cap rate compression that has in some cases accounted for an astronomical 90% of the gain in core real estate value since the last recession is likely to slow; after...

Capital Markets Review: NorthStar, Goldman Sachs JV Buying $925 Million of NJ's Investment Funds
NorthStar Real Estate Income Trust Inc. and funds managed by Goldman Sachs Asset Management agreed to acquire limited partnership interests in up to 25 real estate private equity funds from a trust fund managed by the state of New Jersey Division of Investment...

Office Depot, Office Max Continue Post-Merger Downsizing
Office Depot has reduced the total square footage of its North American Retail Division to 25.33 million square feet at the end of 2012, down from 30.67 million square feet at the end of 2008 -- a 17% reduction. In merger-related documents filed with...

CoStar's People of Note (June 9 - 15)
This week's People of Note includes the following markets: New York City, Northern New Jersey, St. Louis, Portland, and Tampa. GLOBAL Cushman & Wakefield Names Sant’Albano as Interim CEO, Replacing Rufrano By Paul Norman Cushman & Wakefield...

RE Equities Corp Acquires 375 Broadway for $81M
Real Estate Equities Corporation has acquired the mixed-use building at 375-377 W. Broadway in New York City from Ellwell Associates LLC for $81 million, or about $1,500 per square foot. The five-story, 55,710-square-foot office building was constructed...

Facility Closures & Downsizings: QLogic To Consolidate
Networking equipment maker QLogic Corp. approved a restructuring plan designed to streamline business operations. The restructuring plan includes a workforce reduction and the consolidation of several engineering activities. The company anticipates that...