CoStar's People of Note (Jan. 22-28)
This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC. DALLAS, NATIONAL Behringer Harvard Appoints New President, CEO of REITs By Laurie Forbes Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place

Posted on 26 January 2012 | 8:19 pm

LAST CALL! Deadline Is Next Week for CoStar Power Broker Awards
This is it! Don't miss out on this opportunity to have your 2011 professional accomplishments recognized by making sure you get credit for the leases and sales you closed in 2011 and you may qualify for the CoStar Power Broker Awards! The deadline to submit your transactions is next Wednesday, February 1, 2012. As the leading industry award recognizing the "best of the best" in commercial real estate brokerage, the CoStar Power Broker Awards...

Posted on 25 January 2012 | 3:10 am

UC Davis Health Systems Buys Office Bldg.
UC Davis Health Systems purchased 4875 Broadway in Sacramento, CA, from Hanford · Freund & Co. for $7.7 million or $115 per square foot. The 67,227-square-foot office building is on 3.82 acres and was vacant at the time of sale. UC Davis will occupy the building after renovations. The buyer was represented in-house. Harry Caramanica of The Caramanica Group and Kim Collins of Cornish & Carey represented the seller. Please reference CoStar...

Posted on 24 January 2012 | 8:44 pm

Sacramento Multifamily Sells for $2.2 Million
SP Manageco Inc. acquired the apartment complex at 9230 Kiefer Blvd. in Sacramento from Sterling Savings Bank for $2.2 million, or $34,375 per unit in an REO sale. The two-story property has six buildings with a total of 64 units. The exterior foundation is stucco with wood trim and the roof is flat and was replaced in 1998. The building was built in 1968. Michael Mathios, Milan Milunovich and James Quessenberry of Northwind Commercial represented...

Posted on 24 January 2012 | 6:42 pm

Behringer Harvard Appoints New President, CEO of REITs
Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place of Robert S. (Bob) Aisner who was tapped as vice chairman of the REITs. O'Hanlon has more than three decades of industry experience with a background in asset management, corporate and loan restructuring and capital markets. He formerly served on the board of BH REIT II...

Posted on 23 January 2012 | 11:49 pm

Panatonni Sells Folsom Corners for $2.2M
Panattoni Development sold 1730 Prairie City Road in Folsom, CA, to Carole Alfheim for $2.2 million, or $100 per square foot. The new tenant will be CHW Healthcare. Built in 2006, the single-story office building known as Folsom Corners totals 21,860 square feet on 1.46 acres. The property includes about 100 parking spaces. Craig Brinitzer and Breanna Hegseth of Cornish & Carey Newmark Knight Frank represented the seller, while the buyer was...

Posted on 23 January 2012 | 10:46 pm

In The Pipeline: CoStar Development & Construction News for Jan. 22-28
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Follow me on Twitter for live news updates. CA Firm Named Hudson...

Posted on 23 January 2012 | 5:53 pm

Demmon Partners Sells Rocklin Multifamily for $48M
Demmon Partners sold the 452-unit multifamily property at 2121 Sunset Blvd. in Rocklin, CA, to Fowler Property Acquisitions for $48.35 million, or approximately $107,000 per unit. Known as Meridian at Stanford Ranch, the units are a mix of one- and two-bedroom apartments with rents ranging from $920-$1,320 per month. The property was 94 percent leased at the time of sale. Stanford Jones, Philip Saglimbeni and Sal Saglimbeni of Marcus & Millichap...

Posted on 22 January 2012 | 6:58 pm

Cole Joins JLL's Investment Sales Practice
Jones Lang LaSalle (NYSE:JLL) expanded its capital markets business with the addition of Rob Cole to its investment sales practice. As a senior vice president based in Sacramento, he will work with clients throughout Northern California and the West Coast. Cole’s focus will be the marketing and sales of institutional quality and mid-sized investment buildings. JLL manages approximately 10 million square feet of property in the Sacramento region...

Posted on 19 January 2012 | 8:48 pm

CoStar's People of Note (Jan. 15-21)
This week's People of Note includes the following markets: Boston, Houston, New York City and Sacramento. HOUSTON Avison Young Recruits Jeane as Principal By Laurie Forbes Office market leader Lee Jeane joined Avison Young's Houston team. As a principal, he will spearhead the launch of AY’s agency leasing and management platform in the region. His focus will be investors looking to purchase and operate office properties in Houston and throu

Posted on 19 January 2012 | 8:21 pm

USGBC Lists Top 10 States for LEED Building Certifications
The U.S. Green Building Council (USGBC) released its list of the top ten states with LEED-Certified commercial buildings in 2011 and institutional green buildings per capita based on the 2010 Census. The District of Columbia led the nation with more than 31.5 square feet of LEED-Certified space per person, while, not surprisingly, California led the way with more than 71.5 million square feet of total commercial space to earn LEED certification...

Posted on 19 January 2012 | 12:58 am

CRE Price Index Rises for Seventh Consecutive Month
The CoStar National Composite Index of commercial real estate pricing rose for the seventh straight month since last spring as investment-grade sales made solid pricing gains in November 2011, and the level of distressed sale transactions continued to decline during the month. The composite index rose 0.6% in November from the previous month, with prices now an average 1.8% higher compared to the same period a year ago, according to this month...

Posted on 18 January 2012 | 6:55 pm

Sacramento RV Indoor Storage Renews Space
Sacramento RV Indoor Storage signed a renewal for 113,000 square feet at 819-849 N. 10th St. in Sacramento. The 165,000-square-foot industrial building is on a 4.77-acre parcel zoned M2. Mike Zimmerman of Jones Lang LaSalle represented the tenant and landlord, Amir Development Co.

Posted on 17 January 2012 | 6:35 pm

CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized! Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market. As the leading industry award recognizing the "best of the best" in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate...

Posted on 6 December 2011 | 10:06 pm