West

Firm Gets Chosen for $47M Design-Build Project

KANEOHE, HI-Dck-ecc pacific guam llc will work on a 30,709-square-foot air station operations complex, a 17,104-square-foot aircraft fire and rescue station and more than 348,000 square feet of aircraft apron and related site improvements here.

ON LOCATION WITH CBRE'S KAPLAN
VIDEO: San Bernardino County Retail is Back

LAS VEGAS-Scott Kaplan of CBRE talks about the bounce back in the San Bernardino County market.

DEAL-WRAP
Asset With Highest Rents In Town Sells For $22M

SACRAMENTO-L Street Lofts, a mixed-use, fractured condominium project, sells with just 10 units being leased for $2.50 per square foot, the highest rental rate in the midtown area.

Record Leasing Brings Development Frenzy To Silicon Valley

PALO ALTO, CA-The region reports 2.7 million square feet of office absorption during 2011, which hasn’t been seen since the 1990s dot-com era.

EXCLUSIVE
Embassy Suites Valencia Hotel Changes Hands

LOS ANGELES-Orange County-based Clearview Capital LLC, who paid $20 million for the 156-room property, ‘was attracted to the high quality brand and product,’ says a source.

Stan Johnson Co. Opens San Francisco Office

PALO ALTO, CA-GlobeSt.com ran into Andrew Barnes, one of the two new lead brokers in the office, at the firm’s party at ICSC’s RECon2012, who notes that the firm is looking to build that office over the next few years.

8x8 Leases 104,657-SF Building in North San Jose

SAN JOSE, CA-A cloud communications company is moving its headquarters from Sunnyvale to North San Jose.

Plaza 600 Building in Seattle Sells for $55M

SEATTLE-Joshua Green Corp., a family-owned company, has acquired Plaza 600, a 20-story office building in downtown Seattle, from the Vance Corp.

Seibu Group Considers Selling Three Hawaii Hotels

HONOLULU-Japan-based Seibu Group is planning to sell three hotels in Hawaii.

Glimcher to Upgrade Two Outlet Malls Under New Brand

NEWARK-Columbus-based Glimcher Realty Trust is planning to revamp two outlet malls as it rebrands them.

CalSTRS Takes Over LCOR for $820M

WEST SACRAMENTO, CA-Along with an almost 5,000-unit apartment portfolio, former Lehman partner LCOR also brings development abilities to the locally based investment giant.

Reznick, Cohn Merger Positions New Firm as Big Four Alternative

BETHESDA, MD-The merger of the Reznick Group and J.H. Cohn will create an organization with a larger public presence, allowing for a greater focus on REITs, David Kessler tells GlobeSt.com's Erika Morphy.

Big-Time Grocery Retailers Plan 2012 Expansions

LAS VEGAS-Safeway Inc. sees big efforts into health and wellness on the horizon, the Fresh Market Inc. plans new stores, and SuperValu Inc. is working heavily on its second use facilities.

FORECLOSURE WATCH
US Foreclosure Activity Shifting Eastward

IRVINE, CA-Eleven of the 20 largest US metros post foreclosure increases in April—all in the Midwest, South and East Coast.

Americas Rank as Best-Performing Investment Region

LOS ANGELES-CBRE’s Capital Value Index shows a 9.6% increase in year-over-year capital values for real estate in the Americas in first-quarter 2012.

The US Retail Sector On Pace to Absorb 12.4MSF in 2012

LAS VEGAS-At ICSC RECon2012, Cassidy Turley reports that the retail sector still has a long way to go to reach full recovery; GlobeSt.com learns attendees' thoughts on CVS, Walgreens and Whole Foods.

Claremont Hotel Club & Spa Reaches Market with $80M Price Tag

OAKLAND, CA-Investors Winthrop Realty Trust and Paulson & Co. have put the Claremont Hotel Club & Spa, a 279-room hotel in Oakland Hills, on the market for sale.

Speculative Retail Development, a Thing of the Past

LAS VEGAS-Retail is poised for growth, and much of the expansions are by the discount chains. Some major retailers are securing sites for 2014 and beyond, said one attendee at ICSC ReCon 2012.

$200M Vermont Complex Breaks Ground in L.A.

LOS ANGELES-The Vermont is the largest residential development to be built in L.A. since the beginning of the latest real estate downturn.

Yardi Acquires 200-Employee ista MSG

SANTA BARBARA, CA-ista North America’s Multifamily Services Group is a leading supplier of energy and water metering, billing and management services.

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LAST WEEK'S POLL

Penner, Mirante, D'Arcy . . . High-Level Resignations Mean . . .

GlobeSt.com Viewers See More C-Suite Turnover
NEW YORK CITY-Nearly two-thirds of respondents to a GlobeSt.com poll said recent high-level resignations either portend more to come or prove that the industry needs to work on succession planning.

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Events

Register now for RealShare ORANGE COUNTY 2012--the leading real estate networking conference for the local commercial real estate market!
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Featured Event
RealShare STUDENT HOUSING


We've gathered 50 of the biggest players in the Student Housing community to discuss the latest trends of the industry: everything from marketing and leasing to what industry leaders have to say to debt and equity to investment sales opportunities.
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Charging the Hill: Commercial Real Estate and the 2012 Congressional Agenda

December 07
November 23, 2011
Critical issues impacting commercial real estate are coming up on the 2012 Congressional calendar, and their outcome collectively will impact all practitioners in this space. Top executives who know their way around Capitol Hill will share their thoughts on the direction this industry could take at the hands of our elected officials.

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User's Choice

Dalian Wanda Takes AMC Theaters for $2.6B

BEIJING-Dalian Wanda’s buy of Kansas City, MO-based AMC creates the world’s largest theater chain, with 432 locations in North America and China.