Commercial Real Estate Investing

• 25 REITs Most Likely To Buy Your Property in 2013
  This may well be the year that property owners in secondary and tertiary markets get a chance to cash in on the spending spree of the nation’s largest publicly held REITs and real estate operating companies.

  The torrid pace of acquisitions seen within this sector over the past two years is expected to continue this year, but with more buyers casting their nets across more markets.

  As a whole, public REITs and REOCs doled out more than $54 billion…

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• Rolls-Royce Office Complex Sells for $79.1M
  American Realty Capital Trust IV, Inc. has acquired the Rolls-Royce Meridian Center office complex at 450-525 S. Meridian St. in Indianapolis, IN from Eli Lilly and Company for $79.1 million, or about $186 per square foot, exclusive of closing costs.

  The three-building, 425,786-square-foot portfolio includes the four-story Brougher Building constructed in 1908 and renovated in 2001, a six-story building completed in 2002, and a seven-story office…

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• CoStar’s People of Note (May 12 – 18)
  This week’s People of Note includes the following markets: Detroit, Charlotte, Phoenix, New York, Charleston, South Florida, and San Diego.

  DETROIT
  Farbman Group Promotes Gutman, Kalil
  By Tim Heise

  Farbman Group, a Southfield, MI-based, full-service real estate solutions company, has promoted CFO Andrew Gutman to president of the company. Gutman joined Farbman Group more than 18 years ago. He has worked in several areas of

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• Retail Rent Growth Finally Takes Root Across U.S. Metros
  Following a recent string of relentlessly unexciting market trends in retail real estate over the past several quarters comes this distinctly positive news for retail property owners — quoted asking rents have finally turned upward across all retail property types in the U.S. for the first time since 2008.

  “This is a symbolic victory,” said CoStar real estate economist Ryan McCullough, who co-presented the First-Quarter 2013 Retail Review and…

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• Office Towers Rising Again In New York, San Francisco
  The recent emotion-filled topping off of One World Trade Center with a 408-foot silver spire provided a visceral reminder for New Yorkers and others around the world of the pending rebirth of the iconic building in 2014.

  1 WTC, under development by the Port Authority of New York and New Jersey on behalf of the Durst Organization, is now a symbolic 1,776 feet tall, preleased to tenants such as the U.S. General Services Administration, Conde Nast…

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• CoStar’s People of Note (May 5 – 11)
  This week’s People of Note includes the following markets: Los Angeles, Minneapolis, Washington DC, New Jersey, Chicago, New York, and Indianapolis.

  LOS ANGELES
  Diaz Returns to Cushman & Wakefield
  By Allison Smith

  Lalo Diaz has returned to Cushman & Wakefield, Inc. as a market leader for the Downtown Los Angeles market. In his new role Diaz will be responsible for overseeing day-to-day activities, recruitment goals, an

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• ConocoPhillips Strikes Deal To Lease 850,000 SF In Pair of New Energy Corridor Office Buildings
  ConocoPhillips has committed to the biggest office lease signed in Houston so far this year, agreeing to occupy 850,000 square feet in a pair of new office buildings to be built in Houston’s booming Energy Corridor by Trammell Crow Co. (TCC) and its financial partner, Principal Real Estate Investors.

  The oil and gas exploration firm agreed to fully occupy Energy Center Three, a 550,000-square-foot office tower currently under construction and scheduled…

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• Industrial Real Estate Investors Lining Up to Tap Improving Warehouse Market
  With demand expected to outpace supply through 2014 and rents finally beginning to rise again, commercial real estate investors are increasingly interested in placing capital in the U.S warehouse sector.

  “If you look at which sector will be the next for capital to flow, industrial is a very good bet,” said Rene Circ, director of industrial research for CoStar’s Property and Portfolio Research (PPR) who with Senior Economist Shaw Lupton presented…

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• Duke Realty Sells Shops at Pembroke Gardens for $188M
  Duke Realty Corporation (NYSE: DRE) has sold the Shops at Pembroke Gardens located at SW 5th St. in Pembroke Pines, FL to an institutional joint venture and equity partner for $188 million, or about $480 per square foot.

  The 391,120-square-foot lifestyle center was built in 2008 in the Southwest Broward County submarket, at a heavily-traveled I-75 and Pines Blvd. interchange, southwest of Fort Lauderdale. The well-positioned asset was 90 percent…

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• Meridian Strikes Deal To Buy SAIC’s 18-Acre Tysons Corner Campus
  In a deal that will eventually give it control over 18 acres of prime Tysons Corner real estate next to a new Metro station for the planned Silver line extension of the region’s Metrorail service, Bethesda-based The Meridian Group announced it has agreed to buy four office buildings totaling 900,000 square feet and the rights to redevelopment plans for large-scale mixed-use development from defense contractor Science Applications International Corp…

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