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

Tuesday, 12 February 2002

West Regional Digest (2/13/02): Motorola to Sell Mesa, Ariz., Campus

Written by 
Rate this item
(0 votes)
February 13, 2002

Motorola campus for sale
Arizona Republic

MESA, Ariz. – Motorola is putting its campus here up for sale. The campus at Broadway and Dobson roads covers 75 acres and has 1.2 million square feet of manufacturing and office space. Since Motorola first bought the land in 1967, the site has grown to three semiconductor-manufacturing plants, a research-and-development facility and non-manufacturing offices. Motorola declined to disclose its asking price for the property. A brokerage agreement between Motorola and Phoenix commercial real estate firm Lee & Associates is expected to be completed soon.


Apartments/retail complex in Santa Monica fetches $76Mln
Los Angeles Times

SANTA MONICA, Calif. – The California State Teachers' Retirement System has purchased the Plaza at the Arboretum apartment and retail complex in eastern Santa Monica's commercial hub in one of the largest local residential deals in recent years. The pension fund for the state's public school educators made an initial payment of nearly $76 million for the 351-unit complex at 2200 Colorado Ave., according to a CalSTRS Investment Committee report. CalSTRS bought the Plaza from its developer, a group led by Foster City, Calif.-based Legacy Partners Residential. Mary Ann King of Moran & Co. brokered the sale. Heitman Capital Management is overseeing the investment on CalSTRS' behalf.


Kennedy-Wilson buys 196 apartments in Santa Ana, Calif.
Los Angeles Times

SANTA ANA, Calif. – Kennedy-Wilson acquired the 196-unit Park Place Apartments at 300 W. Second St. from LTS Group for more than $16.5 million. Marcus & Millichap represented the buyer. Hendricks & Partners represented the seller. Meanwhile, DLGP III Real Estate acquired the 159-unit Northview and Southview Apartments at 8111 Reseda Blvd. in Reseda for nearly $11 million. Hendricks & Partners represented the buyer and seller, a subsidiary of San Diego-based Fairfield Residential


Craig to remodel Citadel center in LA
Los Angeles Times

LOS ANGELES – Craig Realty Group plans to remodel and expand the Citadel Outlets shopping center, a former tire factory along the Santa Ana Freeway in Commerce. Craig Realty Group has assumed management of Citadel Outlets and has six months to negotiate a deal to buy the center from the city for about $50 million. The 147,000-sf outlet center, about nine miles southeast of downtown Los Angeles, includes 42 stores on a site originally built as a Samson Tire & Rubber Co. plant. Craig's plan would expand the center by 100,000 sf, adding 18 to 23 stores by summer 2003 and creating a new look for the interior along with a new entrance and parking layout.


Five Ralphs stores in Sacramento area will close
Sacramento (Calif.) Bee

SACRAMENTO – Ralphs Grocery is closing five underperforming stores in the area, even as it builds four more supermarkets – three of them in the high-growth areas of Roseville, El Dorado Hills and Elk Grove. The stores to be shuttered within the next 60 to 90 days include one in Davis, as well as stores at Power Inn and Gerber roads, San Juan Avenue and Greenback Lane, Mack Road and Franklin Boulevard, and Stockton Boulevard and Fruitridge Road.


Mann buys almost half of Lockhead research facility in Valencia, Calif.
Los Angeles Times

VALENCIA, Calif. – Biotechnology pioneer Alfred Mann has acquired almost half of a 377-acre former Lockheed aerospace research facility at Rye for a project called Mann Biomedical Park, boosting the Santa Clarita Valley's reputation as an emerging biotech center. Mann bought the land in what is now known as Rye Canyon Business Park from a partnership of Foster City, Calif.-based developer Legacy Partners. The property was acquired through a newly formed company called Mann Biomedical Park LLC. The 160 acres that Mann purchased includes about 420,000 sf of industrial buildings, most of which were renovated by Legacy.


Regency buys land for center in Valencia, Calif.
Los Angeles Times

VALENCIA, Calif. –Regency Centers has purchased 10.9 acres at Valencia Boulevard and Old Road, and Hopkins Real Estate Group has purchased 7.39 acres at the northeast corner of Copper Hill Drive and Newhall Ranch Road. Regency plans to build a 100,000-sf center called Westridge Village that is scheduled to open in summer 2003. It will be anchored by a 50,000-sf Albertson's supermarket. Hopkins will build a 70,000-sf center called Highridge Crossing that is slated to open in spring 2003 and is 50 percent preleased. Terms of the Regency purchase, which was negotiated directly between Chandler of Regency and Robert A. Mayhew of Newhall Land, were not disclosed. Hopkins paid $4.2 million for its parcel.


weekly-call-to-action

“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: Property Acquisitions (ACQ), West Regional Digest (WDIG)
Read 601 times

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

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

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

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

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
warehouse-backstage