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Local Commercial Real Estate News:
 
CoStar's Deals of Note for Thursday
3/17/2010 8:42 PM
INDIANAPOLIS s2f worldwide Moving HQ to Plainfield Business Center By Laura Stoner s2f worldwide LLC signed a 201,000-square-foot lease at Airwest 9 in Plainfield, IN. The supply chain solutions company is moving its headquarters and distribution.....Read More
 
TI Automotive Subleases Former Chrysler Space
3/17/2010 7:02 AM
TI Automotive Systems, a Michigan-based manufacturer of automotive fluid systems, subleased 49,183 square feet at the Levon Technical Center at 1272 Dors Road in Auburn Hills, MI. The manufacturer of brake components will occupy the space that Chrysler.....Read More
 
Warren Industrial Trades for $1.6 Million
3/17/2010 6:19 AM
G & G Sterling Ponds LLC acquired an industrial building at 33410 Sterling Ponds Blvd. in Warren, MI, from Kemp & Sherman Co. for $1.6 million, or about $64 per square foot. Built in 2000, the property is a single-story, 25,070-square-foot, Class.....Read More
 
CoStar's People of Note (March 7-13)
3/11/2010 8:39 PM
This week's People of Note includes the following markets: Los Angeles, New York City, Northern New Jersey and Orange County LOS ANGELES Studley Names Wilder as Senior Managing Director The West Los Angeles office of Studley promoted Stacy A. Wilder.....Read More
 
Birmingham Property Fetches $2.8 Million
3/9/2010 7:02 PM
Pegasus Group sold 294 E. Brown St. in Birmingham, MI, to Trott Properties 24 LLC for $2.75 million, or roughly $134 per square foot. Built in 1983, the three-story office property totals 20,501 square feet on 0.76 acres. Bruce Morrison, Garrett.....Read More
 
Planning Alternatives Moving to Bloomfield Hills Office
3/10/2010 6:26 AM
Planning Alternatives leased 5,056 square feet of 36800 Woodward Ave. in Bloomfield Hills, MI, for seven years. The three-story office building totals 53,000 square feet on a 1.52-acre parcel. Built in 1966, the building was renovated in 2000. Planning.....Read More
 
Local Investor Buys 6-Unit Mobile Park in Novi
3/10/2010 6:21 AM
Old Dutch Farms II LLC acquired six-unit mobile park at 26500 Napier Road in Novi, MI, from Uniprop Manufacturing Housing Communities Income Fund for $2.2 million, or about $366,667 per unit. The manufactured mobile home park is on roughly 3.3417.....Read More
 
Orion Township Industrial Property Sold
3/9/2010 12:59 AM
Brent Gatecliff of Pipe Systems Inc. purchased an industrial building at 171-199 Kay Industrial Drive in Orion Township, MI, from Comerica Bank in an REO sale for $900,000, or roughly $20 per square foot. The new owner will occupy the property. The.....Read More
 
Neumann/Smith Renews in Southfield
3/8/2010 10:35 PM
Neumann/Smith Architects leased 13,567 square feet of office space at 400 Galleria in Southfield, MI, for seven years. The five-story office building totals 260,000 square feet on a 5.36-acre parcel. Built in 1989, the property is part of the Galleria.....Read More
 
Badenoch Leases 6,535 SF in Southfield
3/8/2010 9:31 PM
Badenoch, a defense and green energy company, signed an 18-month sublease for 6,535 square feet in the office building at 2 Corporate Drive in Southfield, MI. The three-story building totals 43,447 square feet in the Colliers Office Plaza. The property.....Read More



Local Commercial Real Estate News:
 
Lehman Bros. Bankruptcy Offers Prime Example of How Not to Grow a CRE Portfolio
3/17/2010 9:17 PM
As corporate post mortems go, the report compiled by the bankruptcy examiner of Lehman Brothers Holdings Inc., may go down as the standard in bankruptcy documents. And what it tells us about the collapse of the once-venerable investment house will stand.....Read More
 
PwC Investor Survey Finds Hope for First Time in Two Years
3/17/2010 4:41 AM
Visualize recovery. Commercial real estate investors find that easier to do today than at any point during the past two years, despite concerns over weak demand and maturing upside-down loans, according to the first-quarter 2010 PricewaterhouseCoopers.....Read More
 
Former L.J. Melody Trio Joins JLL to Expand Real Estate Investment Banking Business
3/17/2010 6:40 AM
In an aggressive move to expand its capital markets business, Jones Lang LaSalle (NYSE:JLL) hired three leading mortgage brokers to head its Real Estate Investment Banking (REIB) business in the Americas. Thomas J. Melody, Thomas O. Fish and Michael.....Read More
 
Retail Leasing Activity Helps Offset Deluge of Vacant Junior Anchor Stores
3/17/2010 2:56 AM
During 2008 and 2009, several major retailers that typically leased junior anchor tenant positions in shopping centers closed hundreds of stores nationwide. Among the largest closures were 722 Circuit City stores, 589 Linens 'n Things stores, 367 Goody.....Read More
 
Lease Up/Lease Down (Mar. 14-20): E! Renews, Schools Cut Staff
3/16/2010 11:49 PM
CoStar compiles news of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers in the weekly Lease Up/Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial.....Read More
 
Bank Watch: FDIC Gives City Bank 30-Days or Else Notice
3/17/2010 9:07 PM
The Federal Deposit Insurance Corp. (FDIC) has given City Bank in Lynnwood, WA, until April 10 to raise additional capital or accept an offer to be acquired. The order also repeated restrictions already in place on accepting or renewing brokered deposits.....Read More
 
In The Pipeline: CoStar Development and Construction News for March 14-20
3/15/2010 4:15 AM
In this week's In The Pipeline, developers will get another shot at winning the right to develop a casino at the Aqueduct Race Track in Queens, NY. CRB Realty Associates has filed a report with the state indicating its interest in developing Parkway.....Read More
 
E! Renews HQ Lease in Los Angeles
3/14/2010 11:05 PM
E! Entertainment Television has re-upped its headquarters lease in Los Angeles, signing a 10-year renewal at Wilshire Courtyard. Comcast's popular entertainment network occupies a total of 335,304 square feet at 5700 and 5750 Wilshire Blvd. It is.....Read More
 
CoStar's Retail News Roundup: Mar. 14 - 20, 2010
3/14/2010 8:54 PM
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Urban Outfitters and Genesco; closings, cutbacks, bankruptcy, default, receivership or foreclosure news at French Connection, Men's Wearhouse, American Eagle and Williams.....Read More
 
Men's Wearhouse Identifies 145 Stores for Probable Closure
3/11/2010 11:43 PM
During 2009, Men's apparel retail chain, Men's Wearhouse, opened 6 new, but closed 41 stores. Due to geographic overlap caused by its 2006 acquisition of the AfterHours Formalwear chain, the company has identified 145 stores that it would likely close.....Read More




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