Finance Net Leasing
Residential Woes Spread to S.F. Office Market
May 13, 2008
Source: San Francisco Chronicle

For the first time in years, San Francisco companies gave back more office space they leased, raising fears that the commercial real estate market is suffering from the same blues as the residential sector. This occurred during last quarter, according to several reports cited by the San Francisco Chronicle.

According to CB Richard Ellis, a total of 436,933 square feet came back on the market during the first quarter -- nearly the amount of space comprised by the iconic Transamerica Pyramid. NAI BT Commercial said negative net absorption was only 4,031 square feet, but that that figure was the largest dip since 2003.

 
Recent Net Leasing Headlines
HFF Closes $24M Sale of The Carlyle Apartments in New Jersey
Aug. 07, 2008
The New Jersey office of Holliday Fenoglio Fowler L.P. has announced that it participated in the sale of The Carlyle Apartments, a 13-story, 128-unit Class A multi-family building in Hackensack, N.J.
USAA Nabs Sears Distribution Center in Pennsylvania
Aug. 07, 2008
The Sears Distribution Center in Covington Industrial Park has been purchased by USAA, according to a Cushman & Wakefield Inc. announcement. The new facility, which is occupied on a long-term lease by Sears Logistics Services, is a 1,026,000-square-foot property located on 74 acres in Covington Township, Penn.
Realty Income's Lewis Sees Slow Recovery for Retail Net Lease Market
Aug. 05, 2008
Current tepid deal volume in the net lease market should continue, though the impact on his company would be relatively small, Realty Income Corp.'s CEO Tom Lewis advised during his latest company conference call. This assessment comes not long after he struck an agreement with the bankrupt Buffets Holdings Inc. regarding 104 net leased retail properties (as reported by CPN in July). Realty Income ended its second fiscal quarter with occupancies of 96.8 percent among the 2,367 properties that it already owns, or about 60 basis points lower than at the end of the first quarter, he noted.
ProLogis Leases 211,000 SF to Centrum Logistics in Romania
Aug. 04, 2008
ProLogis has leased 211,000 square feet of industrial space in Bucharest, Romania, to Centrum Logistics, a European provider of third-party logistics services and a subsidiary of Groep H. Essers, a Belgium-based transport and logistics company.
Pep Boys Completes $77M Sale-Leaseback
Aug. 01, 2008
The automotive aftermarket retailer Pep Boys, whose full corporate name is The Pep Boys Manny, Moe & Jack, has completed a sale-leaseback of 22 properties for $77.5 million. The company will continue to operate the properties as Pep Boys stores, for a lease term of 15 years, with four, five-year extension options.
 

 

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August 08, 2008
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