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Tuesday, 09 January 2001

Southern Calif. Carrier Hotel Leased

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January 10, 2001

By Brad Berton, Commercial Real Estate Direct Contributing Writer

SBC Services has leased a 150,000-square-foot industrial telecom property in Irvine, Calif., for 10 years in a deal valued at $27 million, or $18/sf annually.

SBC, a San Antonio-based telecom company, leased the property at 2681 Kelvin Ave. from ISCO-Irvine North of Los Angeles. ISCO-Irvine North bought the property last year and renovated it for telecom use.

Byron Ward and Scott Read of Grubb & Ellis Co. in Newport Beach, Calif., brokered the transaction.

The deal seems to support the intense investment into Southern California telecom property conversions – especially in the tech-heavy submarkets comprising the emerging area that has been dubbed "Digital Coast."

Hardly two months ago, an opportunistic investment fund managed by Boston's Beacon Capital Partners purchased an 118,000-sf industrial building in Irvine for $15.4 million, or about $130/sf, with plans to convert it into a telecom facility.

That price represents the highest ever paid for an Orange County industrial property on a per-sf basis.


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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • States: California
  • Sector: High-Tech, Industrial
  • Subject: Internet (NET), Leases (LSE)
  • Valuation: Between $25 million and $50 million
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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