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Tuesday, 20 March 2001

West Regional Digest (3/21/01): Bids for San Francisco site could reach $1 Bln

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March 21, 2001

Bids on San Francisco property will set pace for trophy sites
Wall Street Journal

SAN FRANCISCO – Final bids are due Wednesday on the sale of the Bank of America Center, a transaction that will be a guidepost on how the economic slowdown is affecting the market for trophy properties. The finalists include Equity Office Properties Trust, financier Marvin Davis and at least one other bidder, according to people familiar with the property. The seller, a venture of Shorenstein Co. and Bank of America Corp., is hoping to get $800 million to $1 billion for the three-building complex.

San Jose requires street-level retail space downtown
San Jose Mercury News

SAN JOSE, Calif. – The San Jose City Council is requiring building owners to preserve ground-floor rental space for shops, restaurants and clubs to retain a downtown retail presence. An ordinance approved by the council makes permanent a 90-day moratorium approved in December on new uses for ground-floor retail space in an area bounded by St. John, Fourth and San Salvador streets and the east side of Almaden Boulevard. The ordinance, which will be reviewed every two years, does not affect ground-floor projects that have already been approved for a use other than retail. It also allows exceptions for buildings that don't have ground-floor space suitable for retail use.

Denver condos at Copper to offer 25 percent share
Denver Rocky Mountain News

DENVER – Intrawest Corp. will build its first "fractional ownership" condominium project in the United States at Copper Mountain, where prices start at $79,900 for a share of a one-bedroom unit. Unlike a typical time-share project, buyers can purchase a 25 percent ownership in a deed at the 66-unit, $25 million BlueWing Lodge at Copper Mountain. Time-share owners typically buy only time in a project, such as one week a year.

Nordstrom's tech group to move into new space
The Seattle Times

SEATTLE – Nordstrom is moving its 575-employee Information Technology Group into the new 11-story Metropolitan Park North Tower near downtown. The high-tech division will take space that became available two months ago when Network Commerce, a struggling dot-com based in Pioneer Square, backed out of its lease agreement. The Benaroya Co. owns the building. Details of the lease with Nordstrom were not released. The company will occupy the top 10 floors, totaling 137,601 square feet of the building at Howell Street and Yale Avenue.

Mack-Cali to sell Colorado land site

LITTLETON, Colo. – Mack-Cali Realty Corp. intends to sells its 7.1-acre land site in Littleton's Hilltop Business Center. The company acquired the site for about $2.5 million, the company said in a statement. The land site is approved for a four-story, 128,000-sf, Class-A office building.

New life possible for tower
Arizona Republic

PHOENIX – Noel Heller, Scott Lyon and Bill Nassikas, principals of Westroc Hospitality, may partner to refurbish the nearly vacant Phoenix bank office tower into a luxury hotel. The deal on the 12-story building at Central Avenue and Monroe Street is in preliminary stages.

The Irvine Co. sells 7 acres to Irvine BMW in Irvine Spectrum

NEWPORT BEACH, CA – BMW in Irvine Spectrum has purchased seven acres from The Irvine Co, according to a company statement. The car dealership will be located at 9881 Research Drive and is scheduled to open March 24. It will be moving from the Irvine Auto Center, where it has been located since 1985. Newmark of California represented Irvine BMW. The Irvine Company represented itself in the transaction. Terms were not disclosed.

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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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