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Investment
Grubb & Ellis Realty Investors Nabs 199,000SF Atlanta Office
Aug. 21, 2008
One Live Oak, a 199,000-square-foot office property in Atlanta, has just been snapped up by Grubb & Ellis Realty Investors L.L.C., which made the purchase on behalf of tenant-in-common investors. Crescent Real Estate Equities was the seller, having shelled out $31 million to acquire the property from TMW Real Estate Group in late 2004.
Post Sells Atlanta Apartment Property, Refinances Others
Aug. 21, 2008
It’s only Wednesday and already it’s been a big week for upscale multi-family developer Post Properties of Atlanta. The REIT has sold its 250-unit Post Oglethorpe apartment community in Atlanta’s Brookhaven area for $38.5 million and has refinanced two apartment complexes held in joint ventures. In addition, two of the big three credit rating agencies recently had some news for the company.
Pacific Office Properties Nabs $195M Portfolio
Aug. 21, 2008
Pacific Office Properties Trust Inc. and an institutional co-investor have acquired a portfolio of seven Southern California office complexes for $195 million. The combined properties contain more than 1 million leasable square feet across 15 office and flex buildings.
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Development
Tri-City Electrical Contractors to Build 400,000-SF Support Center in Orlando
Aug. 21, 2008
The Central Florida commercial division of Tri-City Electrical Contractors Inc. is under way on $8 million of work at Darden Restaurants’ new 400,000-square-foot LEED-certified Support Center as well as  16,284-square-foot LEED-certified Data Center, both located on Taft-Vineland Road in Orlando, Fla., under its contract with Hardin Construction.
Prime Income to Build $733M Resort in Germany
Aug. 21, 2008
Dallas-based Prime Income Asset Management and Port Olpenitz GmbH are ready to break ground on the approximately $733 million, 425-acre Port Olpenitz, a holiday resort located in the northeastern section of Schleswig-Holstein, Germany.
Prime Retail Buys Land for $100M Dallas Shopping Center
Aug. 21, 2008
Prime Retail has just wrapped up the acquisition of 64 acres of land in suburban Dallas that will become home to Prime Outlets-Grand Prairie. The new 485,000-square-foot shopping center carries a development price tag of approximately $100 million.
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Leasing
Extell Development Puts Manhattan Retail on Block
Aug. 20, 2008
A retail co-op occupied by Duane Reade in New York City is being put on the block by Extell Development, according to Eastern Consolidated, which is acting on behalf of the seller.
South Pacific Development Group Secures Land Lease for $450 Million Samoan Resort
Aug. 20, 2008
Hawaii-based South Pacific Development Group has obtained a 120-year lease for 600 acres of prime oceanfront land on Savaii Island in Samoa to develop the Sasina Village Resort.
Kosmos Energy Signs Lease at Park Lane in Dallas
Aug. 19, 2008
Harvest Partners said today that Kosmos Energy L.L.C. has signed an office lease for more than 50,000 square feet at Park Lane, a 33.5-acre mixed-use development currently
under construction in Dallas. This marks the first office lease signed in one of the new buildings at Park Lane.
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Property Management
Charles Dunn Opens Orange County Office
Aug. 20, 2008
GVA Worldwide partner Charles Dunn Co. is setting its sights on Orange County--it has just opened a new office there, it has announced. GVA Charles Dunn and the Advisory Services group has taken their offices at Knobbe Martens building at Main Plaza in Irvine.
Jackson-Shaw Awards Concord Hospitality Management Contracts for Two Dallas-Area Properties
Aug. 11, 2008
Jackson-Shaw has awarded management contracts to operate two Marriott properties in the Dallas area to Concord Hospitality Enterprises, it has reported.
Balfour Beatty Starts Operational Management of Fort Jackson Project
Aug. 08, 2008
Balfour Beatty Communities L.L.C. has announced that it has commenced property management and maintenance services for the military family housing at the U.S. Department of the Army's Fort Jackson located in Columbia, S.C.
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Corporate Real Estate
Zurich Inks Euro-Deal With CB Richard Ellis
Aug. 06, 2008
Zurich Financial Services Group has picked CB Richard Ellis Group Inc. as a provider of a variety of real estate services for the company in Europe, including transaction management and strategic consulting. The deal represents the first time that Zurich has hired a single service provider for Europe.
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Technology
Mixed-Use Project Housing Fireman’s Fund Aims for Carbon Neutrality in 10 Years
Aug. 13, 2008
American Assets Inc. has revealed plans for The Commons at Mount Burdell, a green mixed-use project on a 65-acre site in Novato, Calif., about 30 miles north of San Francisco. According to the San Diego-based real estate company's calculations, the 1.5 million-square-foot development and redevelopment endeavor will be able to achieve carbon neutrality within a 10-year period. The Commons will evolve on the site of a Class A office complex on San Marin Drive. Home to the headquarters of the Fireman's Fund Insurance Co., American Assets acquired the property last year and will incorporate the existing buildings into the project. Ultimately, The Commons will encompass 800,000 square feet of new development that will include a premier hotel, retail space, meeting venues, a fitness facility and daycare accommodations. Additionally, 710,000 square feet of existing space will undergo renovation.
'New Generation' of Synthetic Ice Gains Popularity
Aug. 07, 2008
On a planet that’s getting gradually warmer, it could be one of the coolest, slickest recreational amenities, and although it’s white, it’s also quite green.
Nation’s Bridge Infrastructure Still Shaky One Year After I-35 Collapse in Minnesota
Aug. 04, 2008
Just one year after the catastrophic collapse of the I-35W bridge in Minnesota, it isn’t a matter of whether another bridge will crumble, but when, according to an infrastructure expert. The danger goes beyond the mere safety of individuals traveling on that bridge, but also to the infrastructure of the nation’s business environment, too. “Infrastructure is the backbone of our whole commercial world. It keeps us competitive around the globe by moving products and people safely,” Barry B. LePatner, founder of the New York City-based law firm LePatner & Associates L.L.P., which advises on business and legal issues affecting real estate, design, and construction industries, as well as the author of Broken Buildings, Busted Budgets: How to Fix America 's Trillion-Dollar Construction Industry, told CPN.
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Practicing Green Building in the Commercial Real Estate Industry


Going green is a growing real estate trend. Sustainable design is being implemented to optimize environmental safety and reduce wasteful consumption. CPN's real estate news reports uncover how these strategies are affecting the state of the commercial real estate industry.



 

220-Acre Mixed-Use in Works Near University of Missouri
August 20, 2008
By Barbra Murray, Contributing Editor -- A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project. Forum Development Group, the owner of the land, recently wrapped up...

Icahn Nabs AT&T's Dallas HQ in Sale-Leaseback
August 20, 2008
By Tonie Auer, Southwest Correspondent -- Transferring its headquarters from San Antonio to Dallas, telecom giant AT&T Inc. has moved into a 37-story high-rise and sold the building in a sale-leaseback deal to Icahn Enterprises for an undisclosed amount. The...

W.P. Carey Closes $58M Sale-Leaseback in Germany
August 20, 2008
By Barbra Murray, Contributing Editor -- New York City-headquartered W.P. Carey, acting through its publicly held non-traded REITs CPA(R):15 and CPA(R):17 - Global, has completed a sale-leaseback transaction in Germany with U.K.-based automotive supplier Wagon Plc. The properties involved are...

Och-Ziff, Kolter in $1B Southeast Residential JV
August 20, 2008
By Scott Baltic, Contributing Editor -- New York-based Och-Ziff Capital Management Group and Kolter Group of West Palm Beach, Fla., have announced the formation of a $1 billion joint venture that will target residential properties in the Southeast that are...

REal Talk with Adam Perrotta-Tuesday
August 19, 2008
By Adam Perrotta, News Writer --In the latest example of a firm looking to snap up debt in the wake of the credit crunch, Apollo Real Estate Advisors has pumped up funding for its debt investment fund to $930 million....

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...