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Tuesday, 07 May 2002

Mid-Atlantic Digest (5/8/02): Norfolk's Main Street Tower Sells

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May 8, 2002

Norfolk's Main Street Tower sells
The Virginian-Pilot

NORFOLK, Va. – After two years on the market, the Main Street Tower has been sold for nearly $3 million below the asking price. New Mexico-based BGK Properties Inc. acquired Main Street Tower, the 14-story, blue-glass building at 300 E. Main St., from NeVa Properties Ltd. for nearly $15.2 million. NeVa Properties has been trying to sell Main Street Tower for two years at an asking price of $18 million. The low sales price likely reflects the below-market-rate lease enjoyed by the building's largest tenant, the U.S. Coast Guard, which pays $13.34/sf. The average rate for similar Class-A space in downtown Norfolk was $19.48/sf last year. Jones Lang LaSalle, a Chicago-based real estate firm, handled the transaction.


32-story office tower planned for city
The Philadelphia Inquirer

PHILADELPHIA – Brandywine Realty Trust is scheduled to present plans this morning for a 32-story office building, designed by renowned architect Cesar Pelli, that it says will be under construction next year at 30th Street Station and will open in late 2005. Pelli, best known for his work on the world's tallest buildings, the 1,482.6-foot-tall Petronas Towers in Kuala Lumpur, Malaysia, has designed a prism-shaped, silvery glass structure. With the project, the region's top suburban office landlord would make a major move into the city. Several other office plans also are in the works for Philadelphia.


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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
  • Subject: Mid-Atlantic Regional Digest (MADIG), Property Acquisitions (ACQ)
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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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