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Protective Measures
The month of March proved to be a test of building owners’ ability to protect themselves against disaster. On March 14, as many as 14 tornadoes touched down in Georgia, including Downtown Atlanta and its surrounding communities.
Vista Picks JLL To Rep Mixed-Use in Houston
Houston-based Vista Equities Group has selected Jones Lang LaSalle Retail to represent its $150 million Main Street-styled mixed-used development, LaCenterra at Cinco Ranch.
Gramercy Realty  Strengthens Operating Management Team
Gramercy Capital Corp. has announced that Michael Berman has joined its Gramercy Realty division as senior vice president, leasing and portfolio management.
Transwestern. Transwestern to Market 1.2M SF of Suburban Chicago Office for Prime Group
The Chicago office of Transwestern has received the assignment to market and lease 1.2 million square feet of Class A office space in Chicago’s western and northwestern suburbs from owner Prime Group Realty Trust.
Upscale 259-Room Tampa Sheraton Comes Under New Ownership
A joint venture consisting of Square Mile Capital Management L.L.C. and Davidson Hotel Co. has acquired the 259-room Sheraton Suites Tampa Airport/Westshore. Host Realty Partnership L.P. sold the Tampa, Fla.-property just two years after having acquired it as part of a $4 billion, 35-hotel portfolio acquisition from Starwood Hotels and Resorts in April 2005.
Orange County Maintenance Cos. Working for Negotiated Resolution
The leading building maintenance companies serving Orange County continued to work for a negotiated agreement for a contract covering their janitorial employees in the county.
450,000SF Office Pre-Lease in Place at Boston's $500M Russia Wharf Project
Boston Properties, developer of the 815,000-square-foot mixed-use Russia Wharf in Boston, has snagged an anchor tenant for the 552,000-square-foot office segment of the $500 million project. Asset management firm and investment advisor Wellington Management Co. will occupy 450,000 square feet under a 15-year lease agreement.
5POP.exterior. Shorenstein Acquires Second Houston High-Rise in 7 Months
In its second major purchase in the Galleria submarket of Houston since October, San Francisco-based Shorenstein Properties L.L.C. acquired the Class A office tower 5 Post Oak Park for an undisclosed amount.
Buenos Aires Office Tower Fetches $70M
IRSA Inversiones y Representaciones S.A. has acquired the Edificio Republica building in Downtown Buenos Aires, Argentina, for $70.3 million, adding 214,000 square feet to its portfolio. With this purchase, the company also expects to soon close lease agreements for approximately 172,000 square feet.
Simons Says Will Focus on Redevelopment
At the Simon Property Group's first quarter 2008 earnings conference call David Simon, Chairman & CEO reported that first quarter FFO was $1.46 per share, up 6.6 percent over a year ago.
InStorage REIT Taps Kan for Senior Management Appointment
InStorage Real Estate Investment Trust has announced that Judy Kan has been appointed senior vice president for investments.
Riverstone Acquires Seattle Property Management Firm
Third party property management firm Riverstone Residential Group has acquired Seattle based HSC Real Estate Inc. With this acquisition, Riverstone looks to increase its viability in the Northwest, as HSC is a property management firm currently operating approximately 34,000 units in the region.
Passco Takes Apartments in Overland Park, Kansas
Passco Cos. has announced the $37 million acquisition of The Village at LionsGate, one of Kansas City’s premier master-planned community multi-family developments.
San Diego Office Building Goes for $42M
Falcon Real Estate Investment Co. has announced the acquisition of University Pacific Centre, a four-story 97,000-square-foot office building in the University Towne Center submarket of San Diego, Calif., for $42 million.
Energy Star: Best Bang for the Buck
For property managers who oversee buildings in many states, dealing with rising energy costs, due to varying energy rates and pricing structures, can present a mighty challenge. “You may be dealing with literally hundreds of vendors,” said Joseph Falci, director of rate analysis and energy procurement consulting for Cadence Network.
Energy Programs Assist Property Managers
Property managers say resources are readily available to help them make their properties more energy efficient. One, the Energy Star program, run by the U.S. Environmental Protection Agency and the U.S. Department of Energy, allows a building to benchmark its energy performance against its peer set.
Goldshine Tapped as President at Mission Residential Management
Jeffrey A. Goldshine has joined Mission Residential Management as its president, the company has announced.
JLL Takes German Retail Property Advisor Firm
Jones Lang LaSalle Inc. has announced its acquisition of Kemper's Group in Germany.
Campus Apartments Bags Management of 3,300 More Student Housing Beds
Philadelphia-based Campus Apartments Inc., the nation’s largest privately-held student housing company, has assumed management of a portfolio of nine student apartment communities around the country from ING Real Estate Community Living Fund, Rabil Properties L.L.C. and Corridor Ventures Real Estate.
CBRE Expands Fifth Third Relationship
CB Richard Ellis Inc. has announced it has expanded its relationship with Fifth Third Bank as exclusive project management services provider for the Bank's new and relocated banking centers across the United States.
scruggs Jones Lang LaSalle Doubles Contract with ACS
Dallas-based Affiliated Computer Services Inc. selected Jones Lang LaSalle to provide facility management and project management services for its U.S. portfolio in a three-year deal, essentially doubling the size of an existing contract JLL had with ACS.
Grubb & Ellis Wins Microsoft Vendor Award
Grubb & Ellis Co. has been named "Vendor of the Year" by Microsoft Corp., for providing facilities management services for Microsoft's Redmond, Wash., campus and several additional locations in the United States and abroad.
Australia’s United Group Acquires UNICCO for $408M
Identifying the move as part of its strategy for growth, particularly in North America, United Group Ltd. announced today it has completed its acquisition of Boston-based UNICCO for $408 million.
Yardi Systems Buys Real Estate Procurement Services Firm SiteStuff
Global asset and property management software company Yardi Systems has expanded its offerings in one fell swoop with the acquisition of SiteStuff Inc., the country's top provider of procurement and supply chain management services to the commercial real estate industry. While SiteStuff will continue to operate as a stand-alone entity, by joining forces, the companies will be able to offer clients a more comprehensive operating platform.
 

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