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Atlanta-area shopping center changes hands

By Inman News, Monday, September 13, 2004.

Marcus & Millichap brokered the sale of the 161,464-square-foot Parkaire Landing Shopping Center in Marietta, Ga.

The value of the transaction was approximately $18.2 million.

Parkaire Landing is located at 4880 Lower Roswell Road. The center was constructed in 1973 on approximately 19.2 acres and is shadow-anchored by a Kroger supermarket.

A Ft. Lauderdale, Fla.-based private investor sold the property to a Massachusetts-based investment partnership.

Occupancy was 95 percent at the time of sale.  more...

Lexington joint venture buys distribution space

By Inman News, Monday, September 13, 2004.

A joint venture investment program of Lexington Corporate Properties Trust acquired a 649,250-square-foot distribution facility in Streetsboro, Ohio.

The value of the transaction was approximately $28.9 million.

The property is a newly constructed building on a 58-acre site.

The property is net-leased to L'Oreal USA S/D Inc. for 15 years and two months.

Lexington Corporate Properties Trust is a real estate investment trust that owns and manages office, industrial and retail properties.

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Office complex sells in Seattle

By Inman News, Monday, September 13, 2004.

Broad Street Advisors negotiated the sale of a two-building office property totaling 211,077 square feet in Seattle, Wash.

The total value of the transaction was not disclosed.

The property, located at 1000– 1100 Dexter Ave., includes two class-A, five-story buildings.

Property tenants include Infinity Radio Broadcasting (Viacom), AOL, Battelle Memorial Institute, Regus and FDIC.

Dexter Tristar LLC, a partnership between Starwood Capital and TriMet Development, sold the property to RREEF.  more...

Brokers break up with MLS

By Jessica Swesey, Monday, September 13, 2004.

A group of brokers in Southern California cut ties with their association-owned multiple listing service to form their own independent MLS. And they've taken nearly one third of the association's MLS members with them.

The new Bakersfield, Calif.-based entity is called Bakersfield Listing Service. Four of the region's real estate brokers who collectively have more than half the area's market share founded the MLS, which launched September 1.  more...

Arkansas landlords charged with discrimination

By Inman News, Monday, September 13, 2004.

Two Arkansas landlords have been charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act by refusing to rent a house to an individual solely based on the applicant's national origin, HUD reported today.

Defendants Donald Rapp and E.  more...

Anti-predatory law causes decline in real estate lending

By Inman News, Monday, September 13, 2004.

North Carolina's 1999 anti-predatory lending law has caused lending to decline among minority and low-income borrowers, according to the findings of a study released today by the Mortgage Bankers Association.

The study, conducted by Abt Associates, analyzed the changes in lending in North Carolina and neighboring states of Tennessee and South Carolina before and after passage of the North Carolina law. Abt Associates examined lending volumes on a neighborhood-by-neighborhood basis for prime and subprime lenders.  more...

Liability costs, technology, discounted commissions Premium Content

By Inman News, Monday, September 13, 2004.

Editor's note: Real estate brokers are feeling pressure on profits from all sides. Business and insurance costs are up, top-producers want higher commission splits and new technology, and new competition in the brokerage space is lowering the average commission on a home sale. In this three-part series, we dive into the economics of real estate brokerage, find out what brokers are thinking and what they're doing to protect their stake.  more...

Real estate sales grow in Twin Cities

By Inman News, Monday, September 13, 2004.

Homeseekers back from the dead

By Jessica Swesey, Monday, September 13, 2004.

Real estate technology company Homeseekers has emerged from bankruptcy protection nearly one year after it filed a voluntary petition for reorganization under Chapter 11 bankruptcy. The company has secured $1.75 million in financing from hedge fund Aspen Capital Partners and now will operate as a privately held company, Realigent Inc.

Homeseekers has been doing business as Realigent for the last two years.  more...

Americans crowd online

By Inman News, Monday, September 13, 2004.

The U.S. Internet population has grown steadily over the last nine years, jumping from 17.5 million adults in 1995 to 156 million in 2004, according to a survey conducted by Harris Interactive. A mere 9 percent of adults were online in 1995, compared with 73 percent in 2004.

The survey also showed that more people are accessing the Internet using faster connections. The number of Internet users using a broadband connection increased from about 20 percent in 2002 to 44 percent in 2004.  more...

More jobs ahead for real estate, construction sectors Premium Content

By Inman News, Monday, September 13, 2004.

About 23 percent of companies in the real estate, finance and insurance industries plan to add staff in the fourth quarter of this year, according to a quarterly employment survey released today by Manpower Inc., while 4 percent of the companies in these industries planned to reduce staff. For the construction industry, about 24 percent of surveyed companies planned to increase staff while 12 percent planned to reduce staff.  more...

Domania lands foreclosure listings

By Inman News, Monday, September 13, 2004.

Foreclosure.com today announced an agreement to provide listings data to Domania.

Under the agreement, Domania will private-label Foreclosure.com's national database of foreclosure listings. The data, which is updated daily, will be accessible through Domania.com.  more...

Success in electronic real estate closings

By Inman News, Monday, September 13, 2004.

On Monday, the Bexar County Clerk's office in Texas electronically recorded real estate document packages containing deeds, deeds of trust and all other related documents for real estate sales using the new Landata Technologies' electronic recording system.

The Landata e-Recording System, or LERS, aims to expedite the real estate closing process by providing the same recording functionality as that offered in person at the county courthouse, said Alan Cellura, president and chief executive officer, Landata Technologies.

"We accepted the recordings, and the document pack  more...

Overnight mortgage rates nudge higher

By Inman News, Monday, September 13, 2004.

Long-term mortgage interest rates rose Monday, and the benchmark 10-year Treasury bond yield slipped to 4.15 percent.

The 30-year fixed-rate average increased to 5.38 percent, and the 15-year fixed-rate moved up to 4.79 percent. The 1-year adjustable was unchanged at 3.21 percent.

The 30-year Treasury bond yield decreased to 4.94 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...

Landlord reveals secrets to real estate profits

By Robert Bruss, Monday, September 13, 2004.

This new book about residential property management, "What Every Landlord Needs to Know" by Richard H. Jorgensen, is filled with more than 30 years of successful realty investing experiences. The author has never been sued by a tenant; that's quite an accomplishment in today's litigious society.

Before getting to the actual book review, although I've never met the author, I feel I know him quite well because I have reviewed all his previous real estate investment books.  more...

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