Finance Net Leasing
Capitol Lounge Building Sold in DC
July 22, 2008
By: Elena Gontar, Staff Writer

The Capitol Lounge building located at 229 Pennsylvania Avenue in Washington, D.C., has been sold by the NorthMarq investment sales team of Jim Karnack, Jerry Burg and Matt Clinebell, the company said today.

The building (pictured) contains 8,780 square feet of space on three floors and a lower level. Two office tenants occupy the upstairs portion of the property.

The NorthMarq team worked on the deal with Roy Hill of Marcus & Millichap, who was marketing the building for sale. The Washington, D.C., office of NorthMarq sourced the buyer and structured the complex transaction, which included a sale-leaseback, master lease and credit enhancement. The buyer completed a 1031 exchange with the purchase.

 
Recent Net Leasing Headlines
W.P. Carey in $28M Sale-Leaseback
Sept. 04, 2008
W.P. Carey Group's publicly traded CPA:17 Global REIT has completed a $28 million sale-leaseback deal with wireless communications firm Sabre Industries on two industrial properties located in Alvarado, Texas and Bossier City, La.
ProLogis Inks 475,000-SF Build-to-Suit Deal Near Paris
Sept. 04, 2008
ProLogis has announced that it will build a new, 475,000-square-foot industrial warehouse near Paris for C&A France, the French subsidiary of international clothing retailer C&A.
A&B Takes Pacific American Services
Sept. 03, 2008
Alexander & Baldwin Inc. has announced today that its Matson Global Distribution Services subsidiary has completed the acquisition of Pacific American Services, L.L.C., a leading regional, asset-light warehousing, packaging and distribution company.
310-Acre South Carolina Land Purchase Heralds 3 MSF Industrial Park
Sept. 03, 2008
Trammell Crow Co. has just taken a 310-acre parcel of land in Summerville, S.C., off the hands of Eastway Properties, thereby paving the way for the company's development of Omni Commerce Park, a 3 million-square-foot industrial complex. Located about 15 miles from Charleston, the property will be built in segments, with the initial phase kicking off in September with construction of a 772,000-square-foot structure.
NetLease Q&A: Corporate Partners Capital Group's Sands Sees Healthy One-Off Deals, Approaching Market Equilibrium
Sept. 02, 2008
Net lease sales may be down from those easy-credit days before the summer of 2007, but Howard Sands, founding principle of Los Angeles-based Corporate Partners Capital Group Inc., thinks that the lower deal volume still includes a good many relatively healthy net-lease transactions.
 

 

Fults to Start New Firm in Dallas
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Despite a flat Dallas real estate market, Tracy Fults took a leap of faith in the creation of his new real estate firm of Fults Commercial, following in the footsteps of his late father and...

184-Acre Bioscience Park Breaks Ground on Former Army Site
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Construction began Wednesday as part of the transformation of the former Fitzsimons Army Medical Center in Aurora, Colo., for the 184-acre business park called Colorado Science + Technology Park at Fitzsimons. The project is being...

Chartwell to Buy Out Seniors Housing JV
September 05, 2008
By: Scott Baltic, Contributing Editor --Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior...

Gaylord to Develop Convention/Resort Facility in Mesa
September 05, 2008
By: Dees Stribling, Contributing Editor --Gaylord Entertainment has inked a deal to buy a parcel of land at the Mesa Proving Grounds in Mesa, Ariz., for the development of a resort and convention center. The development will occupy about 100...

REal Talk with Adam Perrotta-Wednesday
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By Adam Perrotta, News Writer --While Manhattan's Downtown and Midtown South office submarkets have recently been billed as havens for smaller tenants looking to avoid the sky high rents of Class A Midtown space, such firms may still be able...

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September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

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By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...