RECENT NEWS
First Industrial Teams With Carlyle on $64 Mln Buy in L.A.
September 15, 1999 CHICAGO – First Industrial Realty Trust, Inc. (NYSE:FR) has teamed up with The Carlyle Group on the $64 million purchase of an industrial property portfolio from Pacifica Capital Group.The portfolio contains 40 properties with 1.2...
AT&T Hires CB Richard Ellis as Retail Realty Consultant
September 15, 1999 LOS ANGELES – CB Richard Ellis (NYSE:CBG) said its retail services group has struck a deal with AT&T to provide the telecommunications firm with a variety of real estate consulting services.AT&T plans to open 400-500...
Southeast Regional Digest
September 15, 1999Fewer office buildings selling in Atlanta in '99Atlanta Journal Constitution, Sept. 15ATLANTA – According to an office market report by Marcus & Millichap, fewer office buildings have been selling in Atlanta this year than last. In...
Horizon Media Group Takes More Space at 630 Third
September 15, 1999 Horizon Media signed a long-term lease for 37,500 square feet at 630 Third Ave. The media-buying company currently occupies 25,000 square feet in the facility and is the largest tenant in the 250,000-sf building.Newmark &...
CB Richard Ellis Investors Buys $480 Mln of Properties for Pension Fund
September 14, 1999LOS ANGELES – Pension-fund adviser CB Richard Ellis Investors (NYSE: CBG) said that over the past few months it has acquired $480 million of real estate on behalf of the California State Teachers' Retirement System.The properties...
GMAC Commercial Names Head of Japanese Unit
September 14, 1999 TOKYO – Mikihisa Hirai, a former managing director with Pricewaterhouse Coopers, has been named representative director and president of GMAC Commercial Mortgage Corp. Japan K.K.Hirai will direct the investment and servicing activities of GMAC Commercial...
Crescent Completes Restructuring of Charter Behavioral
September 14, 1999 FT. WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) said that the recapitalization of Charter Behavioral Health Systems LLC has been completed.Charter Behavioral leases 88 psychiatric hospitals owned by Crescent.The restructuring was accomplished as...
Southeast Regional Digest
September 14, 1999Panel OKs deal for business park Daytona Beach News-Journal, September 14DAYTONA BEACH, Fla. – With their latest acquisition of the 239-room Best Western La Playa hotel, newcomers Chuck Bray and Joe Gillespie now own five properties...
Call Center May Provide 1,000 Jobs in Milwaukee
September 14, 1999 MILWAUKEE (AP) – TAPP Development Corp. plans to build a wireless-telephone customer service center in Milwaukee. It plans to present its proposal at a hearing scheduled for Wednesday by Suburban Franklin's Community Development Authority. TAPP...
Canadian Regional Digest
September 14, 1999 Gentra plans Zellers, food court for Eaton's storesNational Post, September 14TORONTO – Gentra Inc., a Toronto-based real estate company, is nearing a deal to replace two Eaton's department stores. One Eaton's department store in a...
Star Norwood, Mass., Warehouse to Close
September 14, 1999 BOSTON (AP) – The British company that owns Shaw's and Star supermarkets announced it will close Star's Norwood warehouse Nov. 13. This is the latest effort to adhere to requirements imposed by federal regulators after...
Cox Communications Building in Las Vegas Sells
September 14, 1999 NEW YORK – A joint venture between Legacy Partners and ING Barings has purchased the Cox Communications Building at 101 Convention Center Drive in Las Vegas.The building was sold for an undisclosed price by a...
San Francisco Commercial Real Estate Organization Names New Officers
September 14, 1999 SAN FRANCISCO – The Building Owners and Managers Association of San Francisco has elected Nancy Gille, vice president of Spieker Properties, and Jim Arce, senior vice president of investment management of Wilson Cornerstone Properties, to...
Jones Lang LaSalle Bolsters West Coast Hotel Unit With 2 Hires
September 14, 1999 LOS ANGELES – Jones Lang LaSalle Hotels (NYSE:JLL) has named Karen Johnson senior vice president of its west coast division and Kimberly Katz as a research associate.Johnson was formerly a managing director at Landauer Associates,...
Bedford Property Investors Sets $0.39 Div
September 14, 1999LAFAYETTE, Calif. – Bedford Property Investors Inc. (NYSE:BED) declared a dividend of 39 cents/share payable Oct. 15 to stockholders of record as of Sept. 30.
Malan Realty Investors Sets $0.425 Div
September 14, 1999BINGHAM FARMS, Mich. – Malan Realty Investors, Inc. (NYSE:MAL) declared a 42.5 cents/share for the quarter ending Sept. 30 payable Oct. 20.
Brickman Leases 185,000 sf at Long Island Building
September 14, 1999 HUNTINGTON, N.Y. – Brickman Associates recently signed two tenants that will occupy 185,000 square feet at 3 Huntington Quandrangle, a 400,000-square-foot office building it acquired last year.Empire Blue Cross/Blue Shield agreed to occupy 100,000 sf...
Brandywine Realty Sells Raleigh, N.C., Offices for $7.8 Mln
September 13, 1999 NEWTOWN SQUARE, Pa. – Brandywine Realty Trust (NYSE:BDN) has sold the Twin Forks Office Park, a 73,500-square-foot office complex in Raleigh, N.C., for $7.75 million, or $105.57/sf.The fully leased property was sold to Taylor Family...
Gentra Pays C$90 Mln for Vancouver-area Mall
September 13, 1999 Gentra Inc. (TORONTO:GTA.TO) has agreed to pay C$90 million for the Sevenoaks Shopping Centre in Abbotsford, British Columbia. The property, near Vancouver, is being purchased from Grosvenor International Canada Ltd.Sevenoaks, a regional mall, contains 556,000...
Guardian Life Signs Lease for 25,000 sf at 60 Broad in NY
September 13, 1999 Guardian Life has signed a 10-year lease for 25,000 square feet at 60 Broad Street, a 1.1 million-sf office building in downtown Manhattan.The building is owned by a venture between Kennedy-Wilson (NASDAQ:KWIC) and Pioneer Holdings,...
Colliers: Class A Office and Industrial Markets Continue to Strengthen Throughout Western U.S.
September 13, 1999 The office and industrial markets in the western U.S. remained healthy throughout the first half of 1999, and is expected to continue past 2000, according to an annual report by Colliers International. Office Market ReviewClass...
Holliday Fenoglio Eyes Additions in New York, Boston
September 13, 1999 Holliday Fenoglio Fowler LP is expected to add high-caliber investment sales professionals in New York and Boston as part of its strategy to become a national player in the investment-sales community.The Dallas unit of Amresco...
Archstone Buys Three Apartment Complexes in Midwest for $72.4 Mln
September 13, 1999 DENVER – Archstone Communities (NYSE:ASN) is buying three apartment complexes in Illinois and Minnesota for $72.4 million.The purchases mark Archstone's entry into the Midwest. The REIT expects to complete another $75 million of Midwestern purchases...
Crown American Cuts Staff Levels and Expenses
September 13, 1999 JOHNSTOWN, Pa. – Crown American Realty Trust (NYSE: CWN) has eliminated 20 positions in its corporate office and three field staff positions, in anticipation of lower construction and development activity.The 12 percent reduction in staffing...
Southeast Regional Digest
September 13, 1999Dream BaronSt. Petersburg Times, September 12JACKSONVILLE, Fla.– The St. Joe Co. owns a 1.2 million acre domain in Florida, about three percent of the state's land. That makes the Jacksonville-based company-formerly known as the St. Joe...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
