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Sunday, 05 May 2002

Mid-Atlantic Regional Digest (5/6/02): Smith Gets OK for Crystal City Project in Arlington County, V

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May 6, 2002

Smith Residential gets OK for unlikely Crystal City project
Washington Business Journal

WASHINGTON – Charles E. Smith Residential is known for its high-rise apartments, especially in Pentagon City and Crystal City, where Smith's buildings almost define the sub markets. But its most recently approved project is just four stories, and it's called The Lofts. Smith Residential, a division of Archstone-Smith, received approval from Arlington County to build 215 units in a 215,456-square-foot building at 1600 S. Eads St. in Crystal City. The apartments will average 900 sf and will price from $1,300 to $2,200 a month. The $20 million development will be attached to the Crystal Towers, two 12-story buildings with 912 units, totaling about 1.23 million sf. Built in the mid-1960s, the buildings are undergoing a $20 million renovation.


Philadelphia agency seeks property to entice firms
Philadelphia Business Journal

PHILADELPHIA – The Philadelphia Industrial Development Corp. is looking for land. The economic development agency has between 300 and 400 acres with which to work, a new low in the inventory of land it maintains for prospective companies wanting to locate in the city.


Giant Food leans to Howard, Stafford counties in Md. for relocation
Baltimore Business Journal

LANDOVER, Md. – Giant Food Inc. is expected to shift its massive distribution operations from Landover to Howard County, keeping 550 existing jobs in Maryland. The supermarket chain, which has publicly narrowed its search to Howard County and Stafford County, Va., has said it is weighing the incentives and operating costs attached to both locations. But real estate experts said Giant is sure to land in Howard County because the company already has an option on the property at Dorsey Run and Guilford roads. The company would like to begin construction on a distribution center in August. A June 2003 opening is anticipated.


Industrial vacancy up in Baltimore
Baltimore Business Journal

BALTIMORE – Industrial vacancy rates for the Baltimore metropolitan area have crept upward during the past year. A weakened economy as well as the continued closure and downsizing of industrial facilities have driven overall vacancy rates from 9.4 percent in first quarter 2001 to 10 percent in the first three months of this year, according to a recent report from the Trammell Crow Co. But in Baltimore, Harford and Howard counties, the increases are much more striking – about 2 percent in each location, the report shows.


Monmouth REIT sells Va. building

VIRGINIA BEACH, Va. – Monmouth Real Estate Investment Corp. has sold a 67,926-sf industrial building at 5740 Bayside Road to J&H Realty Corp. for about $2.2 million. The building was originally purchased by Monmouth in 1996 and had been leased to Raytheon. Advantis Real Estate Services acted as broker for the seller.


Firms signs lease in Piscataway, NJ

PISCATAWAY, N.J. – Jon Turano & Sons has signed a lease for 256,000 sf at 1532 S. Washington Ave. Newmark JGT represented the owner of the building, the Mack & Co., while Charles Fern and Joel Lubin of Binswanger/Klatskin represented the tenant. The one-story, 256,000-sf facility sits on a 15-acre site and fronts I-287 and is close to the New Jersey Turnpike and the Garden State Parkway.


Industry news: Health insurer signs lease in Md.
Baltimore Business Journal

BALTIMORE – CareFirst BlueCross BlueShield has signed a deal to lease a large, two-story building that will be developed near the health insurer's Owings Mills headquarters. Financial terms of the seven-year agreement for the 104,000-sf call center on Red Run Boulevard were not disclosed.


Industry news: Hotel under way in Howard County, Md.
Baltimore Business Journal

BALTIMORE – Star Hotels has acquired a two-acre site at Montpelier Research Park in Howard County for the construction of a Holiday Inn Express. Terms of the sale for the land – off Route 29 just south of the Route 32 interchange – were not disclosed. The 80-room hotel, which will feature a business center, an exercise room, indoor pool and meeting space, is expected to be completed at the end of 2003.


Commercial Real Estate Direct provides links to full stories where available.


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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:

  • Breaking mortgage, CMBS, and REIT news

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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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