Neiman has been tracking the sale of offices, industrial properties and retail centers that sell for at least $1 million each for more than 15 years.
"Virtually all of the sales took place in the second quarter," Neiman tells GlobeSt.com. "Sales in the first quarter were absolutely flat."
The single largest sale was the $28.875-million purchase by Heitman Capital Management of the Waterview IV building, which was developed by Denver-based Miller Properties, with the real estate arm of Travelers Insurance.
That was followed by the $22-million that AmeriVest paid for the Sheridan Plaza at Inverness. AmeriVest is a real estate investment trust based in Denver that caters exclusively to small and medium-sized tenants.
Sales dropped as vacancies are rising, Neiman says.
Of the three major office submarkets--the Central Business District, the Southeast suburban market, and the Northwest corridor--only the CBD remains in good shape, Neiman says.
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