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Wednesday, 20 February 2002

West Regional Digest (2/21/02): Boeing Puts 12 Seattle Buildings on Sales Block

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February 21, 2002

Boeing puts 12 buildings on sales block
Seattle Times

SEATTLE – Boeing is putting 12 buildings up for sale – seven industrial buildings in Auburn and five manufacturing and laboratory buildings in Kent – totaling about 2 million square feet. Most of the space in the Kent buildings already is vacant, and the 280 employees in the Auburn buildings will be moved to other buildings on the site, said Ron Ciro, spokesman for Boeing Realty, the aerospace giant's real estate arm. The Auburn property, made up mostly of World War II-era buildings, was valued at about $30 million, the Kent site at $48 million.

Westcor shopping for big investors
Arizona Republic

PHOENIX – Mall developer Westcor is looking for investors to replace its two remaining institutional partners but denied a report that it is for sale. The private Phoenix company that controls many of Arizona's major malls hired real estate investment bank Eastdil Realty to shop for capital to replace or reduce the stakes held by its institutional investors. Westcor Chief Executive Rob Ward said the company will entertain offers from other mall companies, pension funds or even offshore money.

Owners of Crown Plaza Hotel in Phoenix file for bankruptcy
Arizona Republic

PHOENIX – The owners of the 533-key Crown Plaza Hotel has filed for Chapter 11 bankruptcy protection to stave off a foreclosure by its lenders. The hotel remains open and is expected to continue operating. The owners owe more than $1.35 million on a $19 million loan obtained two years ago. The 19-story hotel is one of two key downtown Phoenix convention hotels. The other is the Hyatt Regency Phoenix. The Crowne Plaza's reorganization plan blames the loan delinquency on the slumping economy and a sharp downturn in business after Sept. 11. The lenders are First Union National Bank and Lennar Partners Inc.

Developer tries to raise retailer's rent by 600%
Denver Rocky Mountain News

LAKEWOOD, Colo. – The developer of the Villa Italia mall tried to raise Foley's rent by almost 600 percent, according to a scathing letter that criticizes the city of Lakewood, mall developer Continuum Partners and media coverage of the condemnation. Foley's plans to vacate the store by April 1. The letter to Lakewood Mayor Steve Burkholder said Continuum tried to raise Foley's rent from about $65,000 per year to $450,000.

Catellus JV enters into lease with Borders Books

SAN FRANCISCO – Catellus Development Corp. has signed a lease with Borders for a 23,000-sf store at its 303-acre Mission Bay development. The store will be located in the new multifamily residential mixed-use project under construction on King Street, immediately opposite Pacific Bell Park.

Loews closes Seattle theater
Seattle Times

SEATTLE – Loews Cineplex Entertainment will close the Northgate Theater, one of the few remaining single-screen movie houses in Seattle, would close its doors, effective today. The cinema's closing is the latest in a series of local theater closures by Loews, which has been struggling under Chapter 11 bankruptcy reorganization.

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: West Regional Digest (WDIG)
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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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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