CoStar's People of Note (Aug. 29-Sept. 4)This week's People of Note includes the following markets: Atlanta, Inland Empire, Los Angeles, Milwaukee/Madison, New York City, Orange County and Washington, DC.
ATLANTA
Green Bldg. Expert Joins Grubb's Office Group
Grubb & Ellis Co. appointed...
Google Searches for Tax Credits in Affordable HousingGoogle, the popular search engine firm, is getting into the affordable rental housing business.
U.S. Bancorp Community Development Corp. arranged and will manage an $86 million Low-Income Housing Tax Credit (LIHTC) fund for Google.
The fund will...
Xenon Purchases 24-Unit Multifamily for $6.4MXenon Investment Corp. acquired the apartment complex at 1371 S. Beverly Glen Blvd. in Los Angeles, CA, from JBR Development Co. for $6.35 million or $264,583 per unit.
The 24-unit, 33,714-square-foot complex was constructed in 1961 and has been kept...
August Commercial Repeat Sales Analysis Now AvailableCoStar released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI) last week. Click on the link under "Latest Press Release" for the full analysis.
CoStar developed the CoStar Commercial Repeat-Sale Indices to provide...
Line 6 Renews, Expands at Calabasas Tech CenterLine 6 Inc. signed a renewal of 45,143-square-feet for six years with Hines at the Calabasas Tech Center in Calabasas, CA. The locally based guitar manufacturer also leased an additional 12,032-square-feet for 6 years to expand into occupy the entire...
Lease Up/Lease Down (Sept. 5-11): Whirlpool & Deloitte Expand, Monsanto DownsizesCoStar compiles news of company expansions and relocations, as well as consolidations, closures and layoffs. Look for Lease Up and Lease Down every week, to stay updated on major corporate moves affecting commercial real estate.
In this week's issue...
Colliers Taps Pinsel as Managing Dir. of Inland EmpireColliers International promoted two senior executives in its Ontario and Encino offices.
David Pinsel was named managing director of the Inland Empire. He will oversee the sales team in Inland Empire and continue as managing director of investments...
Bank Watch: Regulator Says Bankers, Not Bricks, Main Reason Behind Most Bank FailuresDon't blame the current wave of bank failures on commercial real estate; much of the blame belongs to bad bankers.
While it is clear that commercial real estate and construction and land development loans have figured in most every bank failure in...
Long Beach Senior Living Facility Sells for $8MSunny Hills Palladium LLC purchased the senior living facility at 3360 Magnolia Ave. in Long Beach, CA, from Richard J. Scotti Trust for $8 million, or about $43,011 per unit. The buyer paid cash for the property.
The senior living facility has 186...
Pool Water Products Buys Van Nuys IndustrialPool Water Products acquired an industrial building at 8151 Orion Ave. in Van Nuys, CA, from Heller Trust for $3.3 million, or about $165 per square foot.
The property consists of a 20,000-square-foot building on 0.9 acres completed in 1975. Pool...
Lease Down (Aug. 29 - Sept. 4): Northrop Grumman, Aviat Continue to DownsizeCoStar compiles news of consolidations, closures, layoffs and lease cancellations in the weekly Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on corporate expansions...
In The Pipeline: CoStar Development and Construction News for Aug. 29 - Sept. 4In this week's Pipeline, Forest City Enterprises will privatize and build family housing at four military bases in South Carolina, Tennessee and Mississippi; in Rockville, MD, business and government leaders will officially kick off a $200 million expansion...
On Assignment Relocating Corporate HQOn Assignment Inc. is relocating its corporate headquarters to 26745 Malibu Hills Road in Calabasas, CA. The science and health care staffing agency signed a 10-year, eight-month deal with Calabasas BDC for the entire 37,172-square-foot office building...
Lease Up (Aug. 29 - Sept. 4): BP Selects Memphis Facility to Store Gulf Cleanup MaterialsCoStar compiles news of corporate expansions, relocations and lease extensions in the weekly Lease Up news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on consolidatations and lease...
CoStar's Deals of Note (Aug. 29 - Sept. 4)NEW YORK
Boston Properties to Acquire 510 Madison
By Andrew Deichler
Boston Properties said last week that it is acquiring 510 Madison Ave. from oft-troubled New York developer Harry Macklowe.
The REIT has agreed to a purchase price equal to...
CoStar's People of Note (Aug. 22-28)This week's People of Note includes the following markets: Atlanta, Denver, Hartford, New York City, Northern New Jersey, Retail, South Florida and Washington, DC.
ATLANTA
Brown Joins Cortland as Chief Acquisitions Officer
Cortland Partners recruited...
"I believe in commercial multifamily properties, especially in Los Angeles, because they are low risk investments where investors can add value in spite of negative market conditions. This belief has led me to a career in commercial real estate sales, and over the years, I have developed a brokerage philosophy which has brought me much success and more importantly, happy clientele. The philosophy is simple: The best service I can provide is egoless representation of client's needs while aggregating the necessary knowledge to empower my clients in skillfully negotiating the constantly changing real estate climate."
- Peter Ciriello
