Finance Net Leasing
ProLogis Announces Full Occupancy at 531,000-SF Houston Distrib Park
ProLogis announced today full occupancy at ProLogis NorthPark, a recently developed, four-building, 531,000- square-foot distribution park located in Houston.
EastGroup Nabs 142,000-SF Las Vegas Distrib Complex
Industrial REIT ProLogis has sold a 142,000-square-foot Las Vegas distribution center to EastGroup Properties.
American Realty Plans $30M Houston Industrial Buy
American Realty Capital Trust Inc. plans to acquire a newly constructed freight facility entirely net leased to FedEx Freight in the coming weeks.
ProLogis Leases 75,000 SF in United Kingdom
ProLogis has leased 75,000 square feet of recently completed distribution space near Heathrow International Airport in the United Kingdom to City Link, the UK's parcel delivery service and subsidiary of Rentokil Initial.
For AEI Capital, Asset Success Trumps Distress
Plenty of investors are preparing to benefit from the coming wave of distressed asset sales, but net lease investors are not unanimously enthusiastic about the prospects. As net lease investors weigh whether to adopt an opportunistic approach, some veteran players are sticking to longtime conservative strategies. In that debate, AEI Capital Corp., a 39-year-old firm specializing in net-lease retail assets, makes the case for buying only successful stores tenanted by proven national brands.
Sonic Franchisee Retains Calkain to Aid in Sale-Leasebacks
Calkain Cos. has been engaged by a multi-unit Sonic restaurant franchisee to consult on the development and exit strategy of the new locations under development in Virginia and Maryland.
ProLogis Leases 127,000 SF in Northern Germany
Industrial property REIT ProLogis has signed two new lease agreements for more than 127,000 square feet of recently developed space at distribution parks in northern Germany.
High-Tech Data Centers Offer Bright Future
Data centers offer a digital-age wrinkle to the net lease industry. By most accounts, demand will grow steadily for the highly sophisticated facilities, which host mission-critical servers. Meanwhile, specialized technical elements and heavy capital investment create high hurdles to development.
CNL Takes Hawaii Waterpark in $29M Sale-Leaseback
CNL Lifestyle Properties Inc., a REIT focused on lifestyle properties, has acquired the Hawaiian Waters Adventure Park in Kapolei, on the island of Oahu, Hawaii, from a subsidiary of entertainment and media firm Village Roadshow Limited.
ProLogis Closes $137M Portfolio Refi for California Fund
On behalf of the ProLogis California Fund, ProLogis has closed on a $137.5 million, five-year, secured financing with a major life insurance company.
ProLogis Completes 4 Leases in Denver
ProLogis announced the completion of four new lease agreements in Denver, Co., totaling more than 300,000 square feet.
AEI Buys $30M of Best Buy Properties
AEI Capital Corp. has purchased more than $30 million of Best Buy properties for its net leased property investment funds.
Net Lease Deals Surge in Q1 as Prices Slide: Boulder
At least one category of commercial real estate investment is enjoying a surge in activity, though not in pricing. Net lease transactions rose several hundred percent for all three major net lease property sectors during the first quarter compared to the last three months of 2008, according to a study by Boulder Net Lease Funds L.L.C.
Changes Ahead for Quieter 1031 Market
The $25.5 million sale of Crossroads Entertainment Center in Chino Hills, Calif., seemed unremarkable at first glance, at least by dollar value. The new owner, GAS Distomo Inc., bought the property from 26 Del Sur Crossroads L.L.C., a privately held seller represented by Faris Lee Investments. However, 1031-exchange deals are a rarity nowadays, making this deal something of a standout.
As Macau Gaming Market Sours, Sands Looks to Offload Signature Property
In yet another indication of just how global the hospitality market slump has become, Las Vegas Sands is reportedly looking to cash out on one of its casinos in Macau under a sale- leaseback deal. The firm is looking to put the Sands Macau up for sale with a price tag of $1.3 billion after failing to sell off the retail portions of two of its other properties there.
ProLogis Signs 215,000-SF Lease with Sanyo Logistics in Chicago
ProLogis has leased 215,000 square feet of recently completed distribution space near Chicago to Sanyo Logistics Corp., a logistics services provider and business unit of Sanyo Electric Co. Ltd.
TIC Properties Opens Regional Office in Kansas City
TIC Properties Management L.L.C. has opened a new regional office in Kansas City, Mo.
Sale-Leasebacks Still Waiting for Star Status
Sale-leasebacks may yet emerge as a star of commercial real estate investment in 2009 as corporate owners unload assets in order to generate capital. But if first-quarter trends are any indication, the asset-leaseback strategy is still a star in the making.
B&G Signs 420,000-SF Lease at ProLogis Park 33 in Pennsylvania
ProLogis has leased 420,000 square feet of distribution space at ProLogis Park 33 in Easton, Pa., to B&G Foods Inc.
Firm Inks 211,000-SF Lease near Memphis
ProLogis has leased approximately 211,000 square feet of recently developed distribution space to Cardinal Health, which will occupy the space at ProLogis Park DeSoto, a master-planned distribution park near Memphis in Olive Branch, Mississippi.
Economic Update - HSBC Looks to Do Big Sale-Leaseback
Over the weekend, the Sunday Times broke the news that London-based banking group HSBC is looking to sell various office assets, including its headquarters in the Canary Wharf district of London (HSBC Tower), property on the Champs Elysées in Paris and unspecified office buildings in New York. The Times said, without citing sources, that the company is hoping to raise about £2.7 billion (nearly $4 billion) from sale-leaseback deals.
TIC Group Gets New Look for Changing Times
In the past few years, the young tenant-in-common industry has taken a major hit from the credit squeeze and the virtual disappearance of the commercial real estate securitization market. In recognition of changing times, the industry’s professional organization is adopting a new name and mission.
ProLogis Announces 438,000 SF of San Antonio Leases
ProLogis has signed first quarter lease agreements totaling approximately 438,000 square feet in San Antonio, Tex.
ProLogis Offering Raises $1B
Industrial REIT ProLogis has raised some $1 billion via a public stock offering that saw 152 million common shares sold for $6.60 per share.
ProLogis Announces Three Leases Totaling 358,000 SF in Japan
ProLogis announced today the completion of three new lease agreements with third-party logistics providers in Japan totaling approximately 358,000 square feet.
 

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