Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Sunday, 30 July 2000

Mid-Atlantic Regional Digest (7/31/00): D.C. site sold for $34 Mln to Greenebaum & Rose

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July 31, 2000

Greenebaum buys department store site
The Washington Post, July 31

WASHINGTON – D.C. developer Greenebaum & Rose has purchased the old Hecht Co. department store site for $34 million, from Equitable Cos. The property, across the street from the MCI Center, will be renovated into a 220,000-square-foot office building. The remaining one-acre parcel will be developed into 440,000 sf of offices, 55 apartments, and retail space.


National City Center posts a for-sale sign
Pittsburgh Business Times, July 31

PITTSBURGH – Hartford, Conn.-based UBS Brinson Realty Investors will put the 338,000-sf National City Center, on Stanwix Street, on the market in early August, according to Grubb & Ellis. No asking price has yet been set for the 20 floor office tower, but, according to real estate sources, the price could top $100/sf, or $33.8 million. Rental rates in the building run $21/sf to $22/sf. UBS Brinson is a division of Swiss-owned UBS AG.


Heinz near agreement for space at Gimbels
Pittsburgh Business Times, July 31

PITTSBURH – According to sources, the H.J. Heinz Co. is close to leasing 200,000 sf in the Gimbels Landmark building, which is owned by 623 Smithfield Associates, on Smithfield Street. This would be the largest lease in the Pittsburgh area this year.
It's expected that Heinz will use Gimbels as back-office space. Rental rates in the building vary from $19.50/sf to $22.50/sf.


Construction set to start on Norfolk's newest building
The Virginian Pilot, July 31

NORFOLK, Va. – Developer Bob Stanton to construct 100 Main St., the fifth tallest building in Norfolk. The 19-story, 225,000-sf building is already 50 percent leased.


Arundel computer maker mulls growth
The Baltimore Business Journal, July 31

BALTIMORE – Computer Sciences Corp. is negotiating with county officials about expanding its presence in the area. The information technology firm wants to consolidate its local operations into a signature building in Anne Arundel County, according to the Anne Arundel Economic Development Corp.


Brokers are bracing for dot-com fallout
The Philadelphia Business Journal, July 31

PHILADELPHIA – So far, the Philadelphia region appears to be relatively stable when it comes to dot-coms vacating space in the area. But area commercial brokers are closely monitoring the situation. They're certain that the dot-com shakeout that hit other regions will eventually strike the Philadelphia area – home to Internet firms such as Safeguard Scientifics and Internet Capital Group. When it does, space could suddenly go vacant.


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“The Weekly”

“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

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

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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