AZ-Commercial Real Estate

Pinal & Maricopa County Expert

National Real Estate Investor

Ironstate Development Launches Sales of Pier Village Condos in Long Branch

Ironstate Development has launched sales for the first luxury condominium building at Pier Village in Long Branch, N.J.

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Chambers Street Properties Lists Its Common Shares on the NYSE

Chambers Street Properties has been authorized to list its common shares of beneficial interest on the New York Stock Exchange (NYSE) with trading commencing May 21 under the ticker symbol ?CSG.?

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GFI Coordinates Two Flatbush Property Sales for Combined Total of $6.7M

GFI Realty Services Inc. has coordinated, separately, the sale of two properties in the Flatbush section of Brooklyn, N.Y. for a combined total of approximately $6.7 million.

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Procida?s 100 Mile Fund Provides Construction Loan for Last Development Site on City

The 100 Mile Fund, managed by Englewood Cliffs, N.J.-based Procida Funding LLC, has provided a construction loan to City Island Reserve LLC, an affiliate of Greystone Property Development.

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Meadow Partners Receives $30M Senior Loan to Fund Conversion of 42-15 Crescent Street in Queens

Meadow Partners has received a $30 million senior loan from PCCP LLC for the recapitalization and conversion of 42-15 Crescent Street, a 98,000-sq.-ft., nine-story office/retail building into a multifamily /retail project in Long Island City in Queens, N.Y.

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Is Fitness Club Sector Over-Crowded?

Gym operators, which have been filling up spaces left by failing retailers, might be over-extending themselves.
• TrafficCourt

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Hutton Cos. Begins Construction of La Verne Village


Construction has begun on La Verne Village, a mixed-use development in La Verne, Calif. The $43 million project is being developed by Hutton Cos. and was designed by KTGY Group Inc.

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PM Hospitality Strategies To Manage Homewood Suites in Oakland


Hotel management company, PM Hospitality Strategies has added another West Coast property to its management portfolio. The Washington, DC-based company will now manage the132-key Homewood Suites by Hilton Oakland Waterfront.

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Sabra To Offer $200M Senior Notes


Subsidiaries of Sabra Health Care REIT Inc. will offer $200 million aggregate principal amount of senior notes due 2023. BofA Merrill Lynch, Barclays, RBC Capital Markets, and Wells Fargo Securities are the book running managers, while Credit Agricole CIB and RBS Securities Inc. are co-managers.

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Store Opening Plans are at Five-Year High, Survey Says


The retailers in RBC Capital Markets? database reported plans for 41,713 new store openings in the next 12 months.

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Brick-and-Mortar Booksellers Gained Shopper Traffic in First Three Months of 2013


Bookstores as a group experienced a 27 percent increase in shopper visits during the period.

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How to Save an Unprofitable Store


A few cosmetic changes here and there may give the store the added boost in traffic it needs to become profitable again.

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Retail Development Back on the Horizon


Retail developers are getting ready to build after a multi-year hiatus.

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Omnicom Renews 112,000 SF at Michigan Plaza


The advertising firm is now the second largest tenant at the massive two-building office plaza downtown.

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Mining Firm Closes HQ Lease for Chicago Move


Coeur d?Alene, a gold and silver producer, has taken 30,000 sq. ft. at the Monroe Building.

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Hilton Signs at Former Goodyear HQ Project


The 1.7-million-sq.-ft. East End complex will also have multifamily, retail and offices.

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Crossroads Companies Tapped as Leasing Agent, Property Manager for Veterans Square Shopping Center in Lyndhurst


Crossroads Companies LLC has been tapped to serve as leasing agent and property manager of Veterans Square Shopping Center, a 144,400-sq.-ft. shopping center located on New York Avenue in Lyndhurst, N.J.

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Jeffrey Siegel, ML7 Affiliate Receive $8.2M Loan for Princeton Mixed-use Property


Cushman & Wakefield has served as exclusive advisor to Jeffrey Siegel and an affiliate of ML7 in arranging an $8.2 million fixed-rate loan for 5-13 Witherspoon Street in Princeton, N.J.

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Duke Realty Picks Up Cranbury, NJ Industrial Property in Off-market Deal


Savills LLC, with North American headquarters in New York, has advised Deka Immobilien of Germany on its disposition of the Deka Special Fund?s two-building industrial property in Cranbury, N.J. to Indianapolis, Ind.-based Duke Realty in an off-market transaction in which the price was not disclosed.

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Jack Pierson Studio Picks Up New Studio Space in Queens for $1.3M


Jack Pierson Studio has paid $1.3 million to acquire 16-13 Stephen Street in the Ridgewood section of Queens, N.Y., an, 8,800-sq.-ft. property that was the site of a former knitting mill.

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Environmental Defense Fund Renews Lease at Gramercy Park Building for 10-Year Term


Environmental Defense Fund (EDF) has renewed its 44,010-sq.-ft. lease at 257 Park Ave. South, the Gramercy Park Building.

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Euphoria Reigns at RECon


Observations from the first day of ICSC's RECon 2013 convention.
• First Word

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Room Left for Malls in the U.S.


Infill sites in markets with under-served populations may still offer mall development opportunities.
• TrafficCourt

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Restaurants, Luxury Tenants are Once Again in Expansion Mode


Tenants are still concentrating on urban markets, however.

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Cost Reductions Push Net Zero Starts in Seniors Housing


Net zero energy design is beginning to take hold in the U.S. seniors housing industry, thanks to building cost reductions and other factors.

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U.S. Seniors Firms Enter China, Pushing Quality Care


As China's aged population increases and its home-care culture changes, the country is reaching out to U.S. seniors housing developers.

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Imperial Promenade Reaches 100% Occupancy


In a two-year period, Imperial Promenade went from 30-percent vacancy to 100 percent occupied thanks to a variety of leases. The property is owned by a partnership between DeBeikes Investment Company and Warmington Properties.

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Lucent Capital Arranges $11.05M in Permanent Financing


Lucent Capital has arranged $11.05 million in permanent financing to recapitalize two Southern California properties owned by a Beverly Hills-based investment group.

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Trion Properties Purchases Two Multifamily Properties


Trion Properties has purchased two multifamily properties for a total of $7.25 million, in two different transactions. The properties are located in El Cajon, Calif. and Sacramento, Calif.

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Horizon, CBL Partner for New KY Outlet Center


The 370,000-sq.-ft. center is already 75 percent leased to major retailers.

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