Finance Net Leasing
Spectrus Closes 1031 Exchange for Austin Retail Center
April 18, 2008
By: Adam Perrotta, News Writer

Spectrus Real Estate has sold a 75,000-square-foot retail power center in Austin to a San Francisco-area private buyer as part of a 1031 exchange.

The property, Anna Plaza, was sold through Spectrus’ Net Lease PLUS program. It is anchored by a Wal-Mart Supercenter, Lowe’s Home Improvement Center and Office Depot. Another retail center, Lakeline Mall, is across the street, along with a proposed Costco outlet.

Spectrus was represented in the sale of Anna Plaza in-house, by regional vice president Peter Rosenthal and sales executive Gary Williams, both with Spectrus’ Northwest regional office in San Francisco. The private buyer was represented by Michael Keenan, an independent broker.

Under Spectrus’ Net Lease PLUS program, multi-tenant properties are offered for sale through a net lease with a monthly payment of 6 percent or more. The multi-tenant properties are operated under a master lease with Spectrus affiliate DBSI Housing, which serves as credit tenant and property manager, allowing buyers to retain control of a property without management or rent responsibilities.

 
Recent Net Leasing Headlines
ATT Atlanta Wells REIT II Snags Another AT&T Building in Atlanta
July 02, 2008
Wells Real Estate Investment Trust II has acquired Lindbergh Center, a groundbreaking, transit-oriented development in Atlanta’s Buckhead area, in a sale-leaseback from AT&T.
ProLogis Arranges 500,000SF Lease in Dallas
July 02, 2008
ProLogis has leased a total of 500,000 square feet to three customers in the greater Dallas metropolitan area.
AMLI at River Park Grubb & Ellis Realty Investors Takes Georgia M-F
July 01, 2008
Grubb & Ellis Realty Investors L.L.C. has acquired 3100 River Exchange, a multi-family community situated on almost 23 acres in Sandy Springs, Ga.
Can Zell Sell Trib Tower?
June 26, 2008
Can Chicago's Tribune Tower sell, even in a market as sluggish for investment sales as the current one?
Bluerock, Solutia in $42M St. Louis Office Sale-Leaseback
June 25, 2008
Bluerock Real Estate L.L.C. has purchased for $42.75 million a 260,000-square-foot office building belonging to chemical manufacturer Solutia in Town and Country, Mo., outside St. Louis.
 

 

$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

Lightstone Acquires Interests in 20 Outlet Centers in $456M Deal
July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...

How to Reduce Employee Turnover
June 06, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Few things in business are as costly and disruptive as unknowingly having the proverbial revolving door for employees to exit from. While there are many secondary and tertiary items that can influence an...

How To Delegate for Success
May 30, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --If you desire to become a top CEO it will be essential for you to master the art of leveraging down. Think of any top performing CEO and you'll find that to the...