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NEW YORK CITY-CB Richard Ellis' high-octane bandwagon makes room for two more as Cushman & Wakefield powerhouse brokers Darcy Stacom and Bill Shanahan climb aboard. Bruce Mosler tells GlobeSt.com he'll fill their positions from within.
DALLAS-Crow Holdings uses an unencumbered 1.8-million-sf industrial portfolio in five cities to secure the funds. The loan arranger isn't at liberty to say what Crow intends to do with the capital, but it's the REIT's second big ticket refi in four months.
HOUSTON-G. Steven Chandler steps in as vice president of development and the co-manager of the Houston team. He replaces George Weatherall. One of Chandler's goals is to add at least 500,000 sf to the four-million-sf portfolio.
NEWARK-The developer, which is under contract to buy a choice 5.7-acre tract on the Passaic River, is apparently looking to put up a project dominated by market-priced residential units, and possibly a hotel.
MIAMI-The locally based Internet infrastructure company, headed by Manuel Medina, sold 17.6 million shares at 58 cents per share to TD Global Finance, an affiliate of the Toronto-Dominion Bank.
DETROIT-One Michigan gubernatorial candidate wants to tear down unused buildings, clean up commercial districts and support sustainable growth with repairs to roads and sewers. She would also sell off state-owned land that is vacant.
CHICAGO-Flush with capital after a $133-million suburban portfolio sale and $15 million from Security Capital Group, Prime Group Realty Trust still reins in new development, including the $220-million topping off of Union Station. Some 480,000 sf of office space hang in the balance.
AUSTIN-The CBD and southern submarkets will be the ones to watch when the market starts its recovery, says Holliday Fenoglio Fowler in its latest "White Paper." Rents will remain flat, possibly even backslide, until the calendar turns.
HUNTINGTON BEACH, CA-A retailer of vintage auto parts acquires a 45,325-sf building standing at 5252 Bolsa Ave. Previously occupied by a technology company, the facility features 20,000 sf of office space, concrete tilt-up construction, ground level loading and a parking ratio of 3:1.
DUBLIN, CA- After a year-long controversial struggle to build a store in East Palo Alto, IKEA has proposed building a new store on a 27-acre parcel in Dublin, which will no doubt bring up concerns about traffic and congestion.