Property, Rentals, Transactions

Pending Home Sales Slow in October but Remain Higher Than a Year Ago

WASHINGTON, D.C. – November 26, 2014 – (RealEstateRama) — Pending home sales declined in October but remained at a healthy level of activity and are above year-over-year levels for the second straight month, according to the

CRE Industry Turns to Congress to Move Meaningful Legislation Forward

WASHINGTON, D.C. – November 26, 2014 – (RealEstateRama) — Commercial real estate is looking at the GOP’s majority in the House and Senate, and the 2016 presidential election, as signs that legislation on energy, tax code and infrastructure will make their way into law during the next two years. NAIOP President and CEO Thomas Bisacquino was interviewed for a piece, “Dawn of a New Age?” in the December 2014 issue of Commercial Property Executive

Why November Is The Best Month To Sell Your Home

WASHINGTON, D.C. – November 25, 2014 – (RealEstateRama) — Some owners hesitate to market their homes between Halloween and New Year’s Day, believing the holiday season to be an off-peak time to sell. But the idea that houses don’t sell in November and December comes from outdated historical trends

Four Industrial Properties Trade Hands in San Gabriel Valley Totaling Over 49,000 SF and $4.8 Million Dollars

SAN GABRIEL VALLEY, CA – November 25, 2014 – (RealEstateRama) — Ryan Campbell with NAI Capital’s San Gabriel Valley East office sold and leased four properties in the San Gabriel Valley totaling over 49,000 sq. ft. and $4.8 Million dollars, all within a recent thirty day period. Rick Sheckter of Newmark Grubb Knight Frank’s City of Industry office co-brokered the three sales transactions.

CBRE ARRANGES $9 MILLION SALE OF MEDLEY INDUSTRIAL ASSET

Miami, FL – November 25, 2014 – (RealEstateRama) — CBRE arranged the purchase of an 85,000-square-foot industrial building in Miami, FL, on behalf of Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets. The asset at 11205 NW 131st Street was acquired for $8.9 million from Canaan Trading Company, a premier food and food supplies distributor. The property was 100% occupied by three tenants at the time of sale. CBRE represented Terreno in the transaction

LOS ANGELES HEADQUARTERS ASSOCIATION APPOINTS RANDY SOEWERS AS BOARD PRESIDENT

LOS ANGELES – November 25, 2014 – (RealEstateRama) — Los Angeles Headquarters Association (LAHQ), one of the city’s premiere business associations, has named Randy Soewers as its 2015-16 president. An associate vice president in the LA offices of global architectural firm RTKL, Soewers’ international experience in the business community will be a driving force for the organization, which is focused on highlighting Los Angeles as an international business hub.

Pace of Demand Slows Slightly, but Positive Outlook for Architecture Billings Index Continues

WASHINGTON, D.C. – November 24, 2014 – (RealEstateRama) — Headed by the continued strength in the multi-family residential market and the emerging growth for institutional projects, demand for design services continues to be healthy as exhibited in the latest Architecture Billings Index (ABI). As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the October ABI score was 53.7, down from a mark of 55.2 in September. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 62.7, following a mark of 64.8 the previous month

TWO COMPANIES SIGN LEASES AT THE ALHAMBRA IN CORAL GABLES

Miami, FL – November 24, 2014 – (RealEstateRama) — Two new tenants have signed leases at The Alhambra, a 14-story, Class A office tower interconnected with the Hyatt Hotel and located in the heart of Coral Gables. Private trust and investment firm Fiduciary Trust International of the South, a division of Franklin Templeton Investments, has signed a lease for 12,500 square feet at 2 Alhambra Plaza. In an effort to accommodate its continued growth, the firm will relocate from its current location at 200 Biscayne Boulevard in Miami’s Central Business District in mid-2015. Pipeline Workspaces, a national high-design shared office space concept, has also signed a lease for 14,000 square feet at 95 Merrick Way, part of The Alhambra property. With the addition of these two tenants, occupancy at The Alhambra now stands at 85%, up from 52% only 18 months ago.

Rooftop Decks, Stunning Views of DTLA, One Block from Sunset Blvd., Wrapped in Modern Design by KTGY

NEWPORT BEACH, CALIF. – November 24, 2014 – (RealEstateRama) — Planet Home Living, a full-service residential real estate building and development company, recently announced the opening of GASPAR. GASPAR consists of ten single-family homes in Echo Park, just outside of downtown Los Angeles and adjacent Silver Lake. Planet Home Living selected award-winning national architecture firm KTGY Group, Inc., Architecture + Planning, to achieve its sleek, modern design that falls under the Los Angeles Small Lot Ordinance

Commercial Real Estate Demand is Holding Steady Despite Overseas Concerns

WASHINGTON – November 24, 2014 – (RealEstateRama) — Despite a slowing global economy, forward economic momentum in the U.S. should keep commercial real estate activity on firmer footing, according to the National Association of Realtor

New international standard for commercial property

WASHINGTON, D.C. – November 24, 2014 – (RealEstateRama) — A new single international measurement system for the commercial market has today been launched to bring transparency and consistency to the global commercial property sector.

CBRE WINS TWO TOBY® AWARDS AT BOMA TAMPA CEREMONY

Tampa, FL – November 24, 2014 – (RealEstateRama) — CBRE is pleased to announce that it received two (TOBY®) The Outstanding Building of the Year® Awards at the 2014 Building Owners and Managers Association (BOMA) Greater Tampa Bay’s annual awards ceremony held in Tampa, FL on November 13th. One award was for a building CBRE manages; the second award was directed to an individual CBRE employee. The TOBY Awards are one of the most prestigious and comprehensive programs in the commercial real estate industry, recognizing outstanding performance and rewarding excellence in building management

SummerHill Apartment Communities Celebrates Completion of The Lane on the Boulevard in Redwood City

IRVINE, Calif. – November 22, 2014 – (RealEstateRama) — Award-winning national architecture and planning firm KTGY Group, Inc. and SummerHill Apartment Communities, a division of SummerHill Housing Group and a leader in providing quality, smart growth, multi-family rental housing and mixed-use developments, announce the completion of “The Lane on the Boulevard,” a new 141-unit luxury residential rental community in Redwood City, Calif., located on the San Francisco Peninsula, just north of Atherton. A completion celebration was held on November 19th. The property is located on 2580 El Camino Real in Redwood City, Calif., between Carlos Avenue and Center Street. Close by are jobs, restaurants, shopping, public transportation and freeways.

BKM CAPITAL PARTNERS ANNOUNCES THE ADDITION OF FIVE TEAM MEMBERS INCLUDING FORMER CEO/CHAIRMAN OF MORGAN STANLEY

IRVINE, Calif., – November 20, 2014 – (RealEstateRama) — BKM Capital Partners has formally announced its Board of Advisors, which includes former CEO/Chairman of Morgan Stanley, John J. Mack, Paul Dolinoy, former President of Equitable Real Estate Investment Management, and Jeff Gehl, Managing Principal and co-founder of RCP Advisors. These three business leaders join BKM’s co-founders Brian Malliet and Nima Taghavi on the board. The firm has also hired two executive staff fund management experts, Michael Hernstad and Charlie Ittner, according to Brian Malliet, CEO and Co-Founder of BKM.

Changes in Healthcare Policies and Preferences Drive New Opportunities in Commercial Real Estate

Chicago – November 20, 2014 – (RealEstateRama) — Not long ago, hospital emergency rooms were clogged with people seeking treatment for everything from broken bones to sore throats. The solution, it turns out, is not to build more and larger hospital emergency rooms, according to a panel of healthcare executives who addressed The Counselors of Real Estate® professional association’s annual convention in Boston. Leaders of the evolving healthcare system are working to find different, more convenient ways – and places — to treat illness and injury. These new medical goals, policies and delivery options are creating better patient care — and opportunities in real estate

Existing-Home Sales Rise in October, First Year-Over-Year Increase since October 2013

WASHINGTON, D.C. – November 20, 2014 – (RealEstateRama) — Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors®.

REach® Technology Accelerator Now Accepting Applications for 2015

CHICAGO – November 19, 2014 – (RealEstateRama) — Second Century Ventures, the strategic investment fund of the National Association of Realtors® , announced today that it is accepting applications for its 2015 REach® Accelerator program, now through January 30th, 2015. The nine-month program provides a unique opportunity for technology companies to get intense exposure into real estate, a market that represents more than $1 trillion in revenue, consists of more than 100,000 small- and medium-sized businesses and generates more than $12.5 billion in advertising spend in the U.S. each year

New REALTOR Benefits® Partner Provides Exclusive Member Pricing and Features on Customizable Websites

WASHINGTON – November 19, 2014 – (RealEstateRama) — Technology has transformed the way real estate professionals do business, and establishing an online presence is essential to connecting with and marketing to potential clients. To help members build and maintain their online identity, the National Association of Realtors® welcomes Placester, one of the largest providers of real estate websites in the world, to the REALTOR Benefits® Program. Through this strategic partnership, Placester is offering exclusive pricing and features on websites to NAR members as well as access to marketing programs and strategies to assist in revenue growth and lead generation.

Single-Family Starts Up 4.2 Percent While Overall Production Drops Slightly in October

WASHINGTON, D.C. – November 19, 2014 – (RealEstateRama) — Single-family housing production in October reached its highest level since November 2013 while the more volatile multifamily sector brought combined nationwide starts activity down 2.8 percent to a seasonally adjusted annual rate of 1.009 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau

StarPoint Properties Acquires $51.75 Million Multifamily Property in West Covina

WASHINGTON, D.C. – November 19, 2014 – (RealEstateRama) — StarPoint Properties, an industry leader in acquiring, developing and re-positioning multifamily projects, has purchased the $51.75 million Lafayette Parc Apartments in West Covina, California. The 236,000-square-foot property is comprised of 259 units and is located at 624 South Glendora Ave. The name of the seller was not disclosed.