Monthly Archives: May 2011

MORRISTOWN, N.J. - May 20, 2011 - (RealEstateRama) -- The Cushman & Wakefield, Inc. team of Robert Donnelly, Robert Donnelly Jr., Marc Rosenberg and Ben Brenner were responsible for the year's largest office lease and have been honored by the Morris County Economic Development Corporation (MCEDC) for the achievement. In mid-2010, they represented chemical and materials giant BASF in a long-term agreement for a new 325,000-square-foot building for the company's North American headquarters in Florham Park, N.J. Construction is currently underway on the build-to-suit project within The Rockefeller Group's The Green at Florham Park.

COLUMBIA, S.C. - May 20, 2011 - (RealEstateRama) -- South Carolina REALTORS® (SCR) was among more than 8,000 Realtors® in Washington, D.C., last week advocating to keep housing first on our nation’s public policy agenda during the National Association of Realtors® 2011 Midyear Legislative Meetings & Trade Expo. SCR members and leadership also met with policymakers on Capitol Hill to address today’s real estate challenges.

New York, NY - May 20, 2011 - (RealEstateRama) -- Brack Capital Real Estate (BCRE), in a joint venture with IHG (InterContinental Hotels Group), has completed the acquisition of 180 Orchard Street on the Lower East Side of Manhattan for approximately $46 million in an all-equity transaction. BCRE will own 51 percent of the shares in the joint venture while IHG will own the remaining 49 percent. IHG's investment in the project will be up to $30 million. The team plans to develop a multi-use property to include a 290-room Hotel Indigo with retail component and parking.

Washington, D.C. - May 20, 2011 - (RealEstateRama) -- Congressman Brett Guthrie (KY-02) announced Friday, May 20, 2011, that homeowners, renters and businesses in Hardin County who suffered damages in the severe storms, tornadoes and flooding on Apr...

MORRISTOWN, N.J. - May 20, 2011 - (RealEstateRama) -- Chemical and materials giant BASF is building a new North American headquarters at The Green at Florham Park, and that project has garnered the 2011 United Way of Northern New Jersey Commercial Real Estate Network’s Impact Award. The 325,000-square-foot build-to-suit lease transaction was arranged by the Cushman & Wakefield, Inc. team of Robert Donnelly, Robert Donnelly Jr., Marc Rosenberg, and Ben Brenner. The owner of the property is The Rockefeller Group

San Clemente, CA - May 20, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has completed the sale of an eight multi-family units located at 1006-1008 Buena Vista St., San Clemente, Calif. The transaction is valued at $2.5 million.

CHICAGO, LONDON, SINGAPORE - May 20, 2011 - (RealEstateRama) -- Cross-border direct commercial real estate investment volumes reached US$37 billion in Q1 2011, up 25 percent from a year ago, according to the recent Global Capital Flows report from Jones Lang LaSalle. Inter-regional volumes (capital moving between the Americas, EMEA and Asia-Pacific) rose to US$26 billion, a 70 percent increase over Q1 2010. This emphasises the appetite real estate investors have for acquiring foreign assets and far exceeds the 40 percent gain across the total market (cross border plus domestic investment) in the first quarter.

Gardena, CA - May 20, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has completed the sale of a 43, 242-square-feet retail shopping center located at 14950 – 15000 Crenshaw Blvd., Gardena, Calif. The transaction is valued at $2.55 Million.

MIAMI, FL - May 20, 2011 - (RealEstateRama) -- Cervera Real Estate has named Susie Glass as vice president, marketing and sales. One of her primary roles at Cervera is to provide extensive marketing and sales support to the agents and increase the communication between branch offices and Cervera corporate. Glass is a recognized leader in the real estate industry.

EUGENE, OR - May 20, 2011 - (RealEstateRama) -- IDX, Inc. and Orlando, Florida real estate professional Michael Johnson, today announce the website Johnson hosts synced with a customizable IDX solution, revolutionizing the online property search for potential Orlando buyers. By utilizing IDX Broker software on his website, Johnson is seamlessly integrating thousands of Mid-Florida Regional MLS (MFRMLS) listings onto the search page he supports. Home seekers can now experience unprecedented access to MFRMLS listings and the dynamic website of Johnson, thanks to IDX Broker software.

EUGENE, OR - May 20, 2011 - (RealEstateRama) -- Today, IDX, Inc. welcomes Nashville, Tennessee real estate professional Steve Dukes to the growing network of agents and brokers who have updated their realty websites with a customizable IDX solution. As a subscriber to IDX Broker, Dukes receives the ability to seamlessly integrate thousands of area listings onto his website. In fact, IDX Broker extracts raw listing data directly from RealTracs MLS (RTMLS) and displays it on the website Dukes hosts. Clients of Dukes can now experience unprecedented access to Nashville property listings, making the online real estate search simpler than ever before. By adopting his own customized IDX solution, Dukes has proven himself as a smarter agent.

WASHINGTON, D.C. - May 20, 2011 - (RealEstateRama) -- The DESCO Group of St. Louis today announced USAA Real Estate Company of San Antonio as its new equity partner in the ownership of 28 shopping centers totaling over 2.3 million square feet and anchored by Schnucks supermarkets in Missouri, Illinois, Indiana, and Tennessee. DESCO will be the managing member of the new venture

WASHINGTON, DC - May 20, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it has charged a Las Vegas, Nevada, homeowners association and its management company with discriminating against families with children by restricting its housing to persons who are 55 and older. Specifically, HUD's charge alleges that Lakeside Village Homeowners Association and Castle Management & Consulting, LLC, did not take the proper steps required to make the community's age restriction legal.

Pearl River, NY - May 19, 2011 - (RealEstateRama) -- As an increasingly heated debate on property tax relief continues to focus solely on a tax cap, Assemblywoman Ellen Jaffee (D-Suffern) today announced she has introduced legislation (A7673) that creates an income-based tax “circuit breaker” as a viable alternative that actually lowers homeowners’ tax bills while protecting quality education.

May 19, 2011 - (RealEstateRama) -- In response to the announcement that hundreds of millions of previously unanticipated dollars are now available to address priority needs, League of Municipalities’ President, Mayor Chuck Chiarello of Buena Vista Township, issued the following statement

GREENSBORO, NC - May 19, 2011 - (RealEstateRama) -- The City of Greensboro is hosting two housing seminars for residents who have inherited homes or property to help prevent home and property loss. The seminars are from 6-8 pm, Wednesday, June 1, and from 9 am to 2 pm, Saturday, June 4, at Central Library, 219 N. Church St. Both seminars are free, but do require pre-registration.

WASHINGTON, DC - May 19, 2011 - (RealEstateRama) -- U.S. Senator Jack Reed (D-RI) today announced that several communities throughout the state will receive $138,735 in federal funding to help more Rhode Islanders develop job skills and achieve econ...

SPRINGFIELD, IL - May 19, 2011 - (RealEstateRama) -- April marks the third consecutive month of home sales gains in Illinois as low mortgage interest rates and lower-priced inventories add up to affordability conditions not seen in decades. According to the Illinois Association of REALTORS® latest report, statewide home sales (including single family and condominiums) in April 2011 totaled 8,526 homes sold, up 8.5 percent from 7,856 sales in March 2011; sales were down 21.8 percent from the tax credit-bolstered sales gains of 10,897 homes sold in April 2010

DENVER, CO - May 19, 2011 - (RealEstateRama) -- Many of today’s new residential developments promote the community as the perfect place to “live, work, and play.” This model for master-planned communities is not necessarily a new idea, as leadin...

ORLANDO, FL - May 19, 2011 - (RealEstateRama) -- Florida’s existing home and existing condo sales rose in April, according to the latest housing data released by Florida Realtors®. Existing home sales increased 2 percent last month with a total of 17,192 homes sold statewide compared to 16,781 homes sold in April 2010, according to Florida Realtors. Statewide sales of existing condos last month rose 17 percent compared to the year-ago sales figure.Twelve of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales in April; 14 MSAs also had higher condo sales. It’s the fifth consecutive month that Florida Realtors has reported higher year-over-year existing home and existing condo sales statewide.

DENVER, CO - May 19, 2011 - (RealEstateRama) -- Peter Niederman, Chief Executive Officer of Kentwood Real Estate, Colorado’s Premier Real Estate Company, has been appointed to the Board of Directors of GeoPublishers.com, the premier trade associat...

SAN JOSE, CA - May 19, 2011 - (RealEstateRama) -- A federal grand jury in San Jose indicted Norma Valdovinos, Claudia Valdovinos, Linda Dung Tran, Elaine “Queenie” Ly, and Pablo Curiel, of San Jose, California, and Jesus Chavez, of Gilroy, California on May 11, 2011, with conspiracy to commit bank fraud, bank fraud, and making a false statement to a bank, United States Attorney Melinda Haag announced yesterday.

WASHINGTON, D.C. - May 19, 2011 - (RealEstateRama) WHEN: Thursday, May 26, 2011 2:00 p.m. EDT WHO: David Crowe, Chief Economist, National Association of Home Builders Kermit Baker, Director of the Remodeling Futures Program, Harvard University's Joint Center for Housing Studies

Northbrook, IL - May 19, 2011 - (RealEstateRama) -- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased PNC Bank property located at 5745 Northwest Highway in Crystal Lake for $2,675,700. The 3,216 square foot building is fully leased on a long term basis to the investment grade rated bank.

LAS VEGAS, NV - May 19, 2011 - (RealEstateRama) -- Faris Lee Investments, the nation’s largest retail-specialized investment sales and advisory firm, has been named the exclusive broker to market The District at Green Valley Ranch, a 384,107-square-foot landmark retail community center located in Green Valley Ranch, a leading master planned community located near Las Vegas at Green Valley Parkway and Interstate 215.

New York, NY - May 19, 2011 - (RealEstateRama) -- NYU’s Furman Center for Real Estate and Urban Policy’s Quarterly Housing Update reports that housing prices declined between the last quarter of 2010 and the first quarter of 2011 in every borough except Queens, where prices remained essentially flat. Manhattan home prices declined 1.7 percent in the first quarter of 2011, but were still 2.5 percent higher than in the first quarter of 2010, and only 11 percent lower than in the peak of the market. Home values in the Bronx and Queens have each depreciated by almost a third since their peaks in the second quarter of 2007 and fourth quarter of 2006, respectively.

WASHINGTON, DC - May 19, 2011 - (RealEstateRama) -- Six grants have been awarded in the Urban Land Institute’s (ULI) semi-annual funding of its Community Action Grants program. Through the program, the ULI Foundation Fund raises money to be distributed as grants to district councils or ULI members on behalf of nonprofit organizations for entrepreneurial programs that aim to improve urban growth in their communities.

SAN FRANCISCO, CA - May 19, 2011 - (RealEstateRama) -- PCCP, LLC has announced that it has partnered with Signature Development Group to acquire Tralee Village, a nearly complete Class A apartment project in Dublin, California. Once complete the high-end, condominium quality apartment community located in the Bay Area will include 130 units. Over the coming months, Signature Development Group out of Oakland, California, will manage various aspects of project completion. PCCP will then transition the property to full-time third party property management in the fall of 2011. Pre-leasing is expected to begin in July with first occupancy for the completed units occurring in August.

EUGENE, OR - May 19, 2011 - (RealEstateRama) -- IDX, Inc. and Golden Bear Realty have brought a customizable IDX solution to the clients of Realtor Mike Nicklaus. Palm Beach, Florida listings are now conveniently displayed on the website of Nicklaus, bringing thousands of Palm Beach Regional MLS (RMLSFL) listings to the computers and fingertips of South Florida home seekers. With the immensely thorough search capabilities Nicklaus now boasts online, potential buyers can quickly and easily find the home of their dreams without leaving the convenience of the IDX enabled website Nicklaus and IDX Broker have created.

New York, NY - May 19, 2011 - (RealEstateRama) -- U.S. Secretary of Energy Steven Chu will join New York real estate industry executives and union leaders on Monday to recognize New York City's first class of green building superintendents to graduate from the 32BJ-Thomas Shortman Green Supers training program. Green Supers is an ambitious labor-management green buildings program, launched just over a year ago with Mayor Bloomberg, to train superintendents and resident managers in the latest state-of-the-art energy efficiency measures.