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NORTH HOLLYWOOD, CA-The 101-unit La Nouvelle complex sells for $102,970 per unit and a 6.7% cap rate. The complex is near the Hollywood (170) Freeway and comprises 123,650 rentable sf on 1.25 acres.
CHICAGO-Industrial properties, including warehouses, as well as assets in the nation's capital are among best bets in a 2003 commercial real estate market fraught with more risk than returns, according to the "Emerging Trends in Real Estate" report by Lend Lease Real Estate Investments, Inc. and PriceWaterhouseCoopers.
DENVER-Moody's Investors Service ups the area's retail score from seven to 21, but that still puts it in the "red" zone on a three-color scale. The US average is 88.
LONDON-Ex-Richard Ellis City chief John Slade has led a management buyout at Hamptons Commercial, the niche investment and development practice he founded five years ago.
VICKSBURG, MS-The 192-unit complex gets its start with an $11-million financing package. The 22-acre Magnolia Commons of Vicksburg delivers in April 2003. It's being touted as the city's first new multifamily product in two decades.
JERSEY CITY-Rebuffed on potential sites within New York City, the Metropolitan Television Alliance, made up of 11 area broadcasters, is looking closely at sites here and in nearby Bayonne.
LONDON-As Middle Eastern investors withdraw their funds from the USA, more are looking to Europe as a safe haven for their money. A Bahrain-based bank has launched the UK's first Shari'ah-compliant property fund aimed specifically at Middle Eastern investors.
SANTA FE-The 285-unit San Raphael complex, built in the 1980s as affordable housing, changes hands as it nears the first conversion point to a market-rate property. In the immediate, a rent increase and renovation are on the docket.
ATLANTA-Savings and lower rental rates are cited as reasons why leases were signed in two separate transactions, totaling 188,274 sf at properties in the Fulton submarket, where asking average rentals range between $3.34 per sf and $4.46 per sf.
PHOENIX-York International lines up 29,556 sf in the recently completed first phase at the junction of Interstate 17 and 7th Avenue. It moves in Dec. 1 from a Tempe location. Air Tiger, coming from central Phoenix, leases 6,371 sf.