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CoStar's Retail News Roundup: May 4 to 10, 2008
From: www.costar.com
"This week in the Retail Roundup, CoStar reports on expansions or new concepts at Kohl's and Steve & Barry's; new retail developments in NY, MI, CA, FL, and TX; acquisition, merger, loan or sale activity at Hanley Investment Group, Centro Properties Group..."
CoStar's Daily Deals of Note for Monday
From: www.costar.com
"SEATTLE
Microsoft Takes 570,000 SF in Bellevue
by Ryan King
Microsoft has leased approximately 570,000 square feet to fully occupy the 26-story City Center Plaza in Bellevue, WA, according to reports from the Seattle Times.
Beacon Capital Partners..."
Cafe Owner Buys W. Sunset Bldg. for $1,090+ PSF
From: www.costar.com
"Fabio Conti, owner of The Fabiolus Cafe, an existing tenant, purchased 6266-6270 W. Sunset Blvd. in Los Angeles. Mohammad R. Vafaie Family Trust sold the three-tenant restaurant building for $4.5 million, or approximately $1,090.50 per square foot.
The..."
Sears Buys K-Mart Bldg. in Santa Paula for $7.4M
From: www.costar.com
"Sears Holdings Corp. purchased 895 Faulkner Road in Santa Paula, CA, from REDAFCO for $7.4 million, or about $104 per square foot.
The 71,254-square-foot retail building was constructed in 1991 on a 5.11-acre parcel. The single-story single-tenant..."
Group Sells Summer Gardens Apts. for $5.42M
From: www.costar.com
"Summer Gardens LLC sold the 97% leased, two-story, 25,360-squre-foot apartment complex at 816 S. Marguerita Ave. in Alhambra, CA, known as the Summer Gardens. Magna LLC acquired the property in an off-market transaction for $5.42 million, or approximately..."
Group Sells El Segundo Industrial Bldg. for $3.55M
From: www.costar.com
"An investment group led by Franklin D. and Michelle J. Woodward sold 215-233 California St. in El Segundo, CA, to Stuart Strickly and CRS LLC for $3.55 million, or about $288 per square foot.
The building features a gated property with power of 600..."
Varney Center in West Covina Sells for $3.7 Million
From: www.costar.com
"Pei Wen Chen purchased the three retail buildings that make up Varney Center at 400-450 N. Azusa Ave. in West Covina, CA. Varney Center Inc. sold the 33,363-square-foot property for $3.7 million, or approximately $111 per square foot.
Varney Center..."
Watch List (April 27-May 3): Filling the Need for Financing
From: www.costar.com
"In this week s issue:
-- Morgan Stanley, Goldman Sachs, Shorenstein, LaSalle, it seems everyone is raising money for distressed assets; and
-- Spring has sprung but housing continues to fall.
-- Plus, we give you the latest notices of facility closures..."
Facility Closures and Layoffs (April 27-May 3)
From: www.costar.com
"This article is excerpted from Watch List, a weekly column of market conditions, company expansions and contractions and real estate investment opportunities.
Graphic Packaging International Inc., plans to discontinue folding carton manufacturing at..."
Under Contract (April 27-May 3)
From: www.costar.com
"Roberts Realty Investors Inc. has contracted to sell its 403-unit Addison Place apartment community for $60 million. The sales price is equal to $148,883 per apartment unit or $102 per square foot. The company expects to close by June 30. Addison Place..."
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