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Parkwood building acquired in TIC deal

By Inman News, Tuesday, January 9, 2007.

Triple Net Properties LLC represented tenant-in-common investors in the purchase of 151,141 square feet of office space in Atlanta, Ga., for an undisclosed price.

The property, 1600 Parkwood, is a six-story, class A office building located in the Northwest Galleria/Cumberland submarket. Situated on 5.52 acres, it features a three-story parking garage, fitness center and deli.

At the time of sale, the property was approximately 99 percent occupied by 15 tenants, including OneSource Management, Numerex Corp., and Option One.  more...

STAG Capital buys more Michigan space

By Inman News, Tuesday, January 9, 2007.

STAG Capital Partners purchased a 250,100-square-foot manufacturing facility in Lansing, Mich., the company announced Monday.

The value of the transaction was not disclosed.

The building is situated on 25.4 acres at 5640 Pierson Road and was fully leased to The Woodbridge Group, a provider of automotive urethane technologies and just-in-time assembly and sequencing systems, at the time of sale.  more...

Chicago Bridge & Iron moves into Houston

By Inman News, Tuesday, January 9, 2007.

Transwestern on Monday announced it has negotiated a 10-year lease agreement for 115,000 square feet of office space in Houston's Galleria submarket.

The tenant, Chicago Bridge & Iron Co. N.V., an engineering and construction company that serves the oil and gas, and metals and wastewater industries, said it will house approximately 450 employees at Two Riverway, a 370,000-square-foot office property.  more...

California's new insurance commissioner sworn in Premium Content

By Matt Carter, Tuesday, January 9, 2007.

California's new insurance commissioner, Silicon Valley entrepreneur Steve Poizner, was sworn into office Monday, promising to lower insurance rates by attacking fraud and to make earthquake insurance more attractive to homeowners. 

Poizner, along with Gov. Arnold Schwarzenegger, was one of only two Republicans elected to higher office in the November election in a state where Democrats control the Legislature.

Sounding not unlike Gov.  more...

Real estate debate: High touch vs. high tech Premium Content

By Glenn Roberts Jr., Tuesday, January 9, 2007.

NEW YORK -- Some common labels land on various breeds of real estate companies -- such as "discount or "traditional" -- that seem to stick even though they don't quite fit, said panelists Monday during a session at the Real Estate Connect NYC conference.  more...

Colorado may criminalize coercion of appraisers

By Inman News, Tuesday, January 9, 2007.

Mortgage brokers would be expressly prohibited from compensating, coercing or intimidating real estate appraisers to obtain inflated appraisals under legislation proposed by the Colorado attorney general.

The legislation, targeted at mortgage fraud, would also prohibit appraisers from knowingly submitting a false home valuation, and subject violators to misdemeanor criminal prosecution for a first offense and felony charges for those with prior convictions.  more...

Dallas real estate endures slower December

By Inman News, Tuesday, January 9, 2007.

More real estate cooling hit the Dallas/Fort Worth metro area in December, as single-family home sales and prices continued to fall from their 2005 levels, according to preliminary statistics provided by North Texas Real Estate Information Systems.

There were 6,333 single-family home sales last month, down 5 percent from approximately 6,665 sales a year earlier.  more...

CEOs more bullish on economy

By Inman News, Tuesday, January 9, 2007.

A key indicator that measures chief executives' confidence in the economy improved slightly in the fourth quarter, as the majority of businesses plan to raise prices for their goods and services this year, The Conference Board reported today.

The Chief Executives' Confidence Measure, which had fallen to 44 in the third quarter of 2006, improved to 50 in the final quarter of 2006, according to The Conference Board's latest survey of nearly 100 business leaders in a wide range of industries. A reading of more than 50 points reflects more positive than negative responses.  more...

Overnight real estate rates mixed

By Inman News, Tuesday, January 9, 2007.

Long-term mortgage interest rates were scattered Monday, and the benchmark 10-year Treasury bond yield stayed at 4.65 percent.

The 30-year fixed-rate average slipped to 5.69 percent, and the 15-year fixed rate held at 5.48 percent. The 1-year adjustable was down at 5.32 percent.

The 30-year Treasury bond yield decreased to 4.73 percent.

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

Experts discuss sharing, openness in real estate marketing Premium Content

By Glenn Roberts Jr., Tuesday, January 9, 2007.

NEW YORK -- During a discussion of broker Internet strategies at a real estate conference Monday, Justin McCarthy of Google said the real estate industry appears to be shifting toward openness rather than exclusivity in the sharing of property information.

While brokers had historically discussed how to keep listings away from aggregator sites that sought to share more listings information with consumers, McCarthy said the discussion is now about "how do you get listings to all of these sites."

"It's nice to know ...  more...