Property Types Retail
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008

Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C. In addition to the senior Loan with Corus, the borrower closed simultaneously on a $12 million mezzanine loan with Lehman Brothers. At the time of closing, the project was approximately 60 percent complete.The project is being developed by a joint venture between Monument Realty and its investor partners, MacFarlane Partners and Lehman Brothers. The project will include 261,000 net rentable square feet of Class A office space, 13,000 net rentable square feet of retail space, and three levels of underground parking. The office building will be a part of Monument Realty’s “Half Street” project, which is planned to include additional retail, residential and hotel components.

 
Recent Retail Headlines
DLC Acquires Skytop Pavilion in Cincinnati, Has $700M to Spend this Year
July 18, 2008
With more than $700 million in capital in its coffers to spend, privately-held retail real estate company DLC Management Corp. has just made its first purchase of the year, acquiring Skytop Pavilion, a grocery-anchored shopping center in Cincinnati.
Nashville Shopping Center to Get 200,000SF Expansion
July 18, 2008
CBL & Associates have announced plans for an expansion of CoolSprings Galleria, a 1 million-plus-square-foot shopping center in Nashville.
Washington D.C. Clinic Property Sold
July 18, 2008
The building at 1407 S Street NW in Washington, D.C., home to the Whitman-Walker Clinic, has been sold.
City Signs Off $33M Conversion of Shopping Center
July 18, 2008
C.W. Clark Inc. recently got the green light from the San Diego City Council to move forward with its redevelopment of the Bay View Plaza, a San Diego shopping center originally constructed in the 1950s.
150,000SF Retail Property Pulls in $28M
July 18, 2008
Ownership of Edison Commons, a 150,000-square-foot shopping center in Edison, N.J., has changed hands with AMC Delancey Group Inc.'s sale of the property to a subsidiary of MCC Realty Investments L.L.C.
 

 

REal Talk with Adam Perrotta-July 17
July 17, 2008
By Adam Perrotta, News Writer --Today's news was a mixed bag, as yet another disappointing report on the real estate market and a major tenant pulling out of the World Trade Center was balanced out by some good news, including...

Merrill Lynch Backs Out of Plans to Move HQ to WTC
July 17, 2008
By Gail Kalinoski, Contributing Editor -- The Port Authority of New York and New Jersey confirmed today that Merrill Lynch has pulled out of plans to locate its headquarters at a new office tower to be constructed at the World...

Trio of Leading Retail Names Now Under One Roof with Closing of Hudson's Bay Deal
July 17, 2008
By Barbra Murray, Contributing Editor -- NRDC Equity Partners has wrapped up its acquisition of Hudson's Bay Co., which is, at 388 years old, the oldest continuing operating company in North America, as well as the largest department store chain...

Vegas Airport Awards $1.2B Construction Contract
July 17, 2008
By Tonie Auer, Southwest Correspondent -- Las Vegas's McCarran International Airport has awarded a $1.2 billion construction contract to Perini Building Co. Under terms of the deal, locally-based Perini will build a new terminal building, underground automated transit system and...

Report: Mexico's Foreign-Owned Factories Make Comeback
July 17, 2008
By Dees Stribling, Contributing Correspondent -- Mexico's maquiladoras, foreign-owned factories, have rebounded in recent years as engines of economic growth in the face of overseas competition, especially from China, according to a report by industrial real estate landlord ProLogis. Maquiladoras...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

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...