Tuesday, May 29, 2012
Harbor Group bought the property in January 2010 from JP Morgan Chase for $107 million. Habor Group International LLC has sold an office building at 4 New York Plaza in Lower Manhattan for $270 million to a joint venture of HSBC Alternative Investments Limited and Edge Fund Advisors. Harbor Group bought the property in January 2010 from JP Morgan Chase & Co. (NYSE: JPM) for $107 million in a 15-year sale and lease-back deal for 75% of the property. The 1.1 million square foot building is located at the corner of Water Street and Broad Street http://www.globes.co.
Friday, May 18, 2012
The U.S. retail investment sales market staged a strong performance last year as property sales rose 32 percent from 2010 to nearly $61 billion. Prices for power centers and neighborhood centers increased 9.1 and 7.2 percent, to $148 and $135 per square foot, respectively. While the highly coveted single-tenant net-lease investment sector continued to gain momentum, shopping centers and other multi-tenant properties captured nearly 68 percent of total sales, for which cap rates compressed by 40 basis points. Gateway investment markets New York, Northern New Jersey, Los Angeles, Chicago, Washington, D.C., South Florida and Boston dominated this investment activity. New York City.
Tuesday, May 15, 2012
Marcus & Millichap Real Estate Investment Services Inc. has closed a record-breaking sale on the Las Vegas Strip for a 16,016-square foot Walgreens drugstore. While the sales price of $27.8 million may not be the largest transaction by dollar amount, it breaks down to $1,736 per square foot, making this the most valuable single-tenant drugstore ever to trade in the United States.
Tuesday, May 1, 2012
DineEquity, Inc. DIN +9.47% , the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, reported financial results for the first quarter of 2012. "We are pleased with our first quarter performance. At DineEquity, we continue to work closely with IHOP and Applebee's on their respective brand-building strategies to innovate the menu, drive operational performance, and provide value for our guests," said Julia A. Stewart, Chairman and Chief Executive Officer of DineEquity. "Our business fundamentals remain healthy and our unique, highly franchised business model is generating strong free cash flow and enabling debt reduction, which are key measures of our success." First Quarter 2012 Financial Highlights -- Total debt was reduced by $85.9 million in the first quarter of 2012 as a result of net cash proceeds and financing obligation reductions from the refranchise and sale of Applebee's company-operated restaurants and free cash flow. The Company reduced Term Loan balances by $69.0 million, Senior Notes by $4.5 million, and financing and capital lease obligations by $12.4 million.
Cole Real Estate Investments (Cole) announced its commercial real estate portfolio has surpassed the $10 billion mark in total assets under management, further establishing the company as a national leader in retail, office and industrial real estate investments. With nearly 350 employees across the country, Cole continues its mission to provide access to high-quality commercial real estate.