Saturday, February 5, 2011

Commercial real estate sales down in metro Denver - Kansas City Business Journal:

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Metro-area sales for the 12 months endedMarch 31, compared to the previous 12-month period, also were especially in the office market. The LoopNetg information, released this week, included office, retail and industrial buildingd as wellas apartments, but not land, hotelz and health-care facilities. Minimum selling price of deals included in the datawas $2.5 The office market had one of the biggest declines in salesz among property types, with no saleds of more than $2.5 million for the firstt quarter, compared to $380 million in sales for 2008'sz first period, according to LoopNet.
Other data providers includse the Colorado StateLand Board'x first-quarter purchase of a new headquarters building at 1127 Shermaj St. in downtown Denver for $4.7 That sale closed March 31, according to Denver County real estate For the mostrecent 12-month period, ending Marcnh 31, metro Denver reporte $678 million in office building sales, down from $2.9 billion for the previous 12-month Over the past 12 months, downtown Denved had the most metro-area office-property sales, with sevebn buildings trading for a total of $332 according to LoopNet. Two downtowhn deals were amongthe period's larges t -- the $157.
8 million sale of the two-building Worlrd Trade Center and Millenniumm Financial Center's $47.9 million sale, both in October 2008. Basedf in San Francisco, LoopNet (NASDAQ: LOOP) provides informatiob services to the commercial realestatee industry, including sales listings. LoopNet customers includd CB Richard EllisGroup Inc., , , Co. and RREEF Funds LLC. Industrialo -- $40 million in sales in Q1 comparedto $207 million in Q1 2008; $404 milliom in sales for the 12 monthd ended March 31, compared to $658 milliobn for the previous 12 Among the largest recent industrial sale was Denver-based 's (NYSE: PLD) sale of Building 8 in ProLogia Park 70 for $19.
3 million in Major industrial buyers in the past 12 monthw included Hines Interests LP, IBC Holdings LLC and TA Associates and major sellers, besides ProLogis, includexd (NYSE: FR) and SVN Equitiesx LLC. Retail -- $13 million in Q1 2009 down from $69 million in Q1 $430 million in sales for the past12 months, comparee to $838 million for the previouxs 12-month period. Biggest first-quarter retail salee include a former Circuig City store on South Colorado Boulevardein Denver, which sold for $7.5 million. Among the biggest retailp sales in the past 12 months werethe $161 millio sale of Southlands, metro Denver's largesg shopping center, in December and the $94.
5 million sale of the Denvee Pavilions mall in downtown Denver last summer. Top retailp buyers in the past 12 months were Southlands buyert of New York as wellas Denver-baseed LLC and , partners in the Denver Pavilionsd acquisition. Major sellers included Southlands developer LLC ofGreenwoox Village, and Pavilions investors Arthur Hill Co. LLC and Roche Finanz Apartments -- $29 million in sales for Q1 2009, down from $194 millionm for the first periodof 2008; $528 million in 12-month down from $1.77 billion for the previouxs comparable period. Among the largest recenrt apartment transactions wasthe $20.9 million sale of The Boulders in Boulder in January.
Major buyers of apartment properties, over the last 12 included LLCand , and top sellerxs included Principal Capital and (NYSE: AIV) of

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