WestVest Associates, Inc | Licensed Real Estate Brokers
Home Our Team Why Us Our Specialty Vendors Alliance R.E News Glossary Search Calculator Contact Us
Industrial Office Property Management Retail Land Development Investment
South Florida Commercial Real Estate News
West Vest´s Latest
WestVest
 
The Vanguard-Logistics Miami Office has recently expanded to over 138,000 sq. ft. facility within Lakeview Commerce Park located in Medley, Florida. This class A industrial park accommodates a variety of Industrial Businesses that choose to have a strategic location near Major Expressways, Miami International Airport, and Seaport.

The recently executed five year lease has been brokered by Anthony DeRosa and Hector Cataño of WestVest Associates, Inc. representing Vanguard Logistics Services directly with the landlord. They are currently occupying the premises.

 
View More...
Talent firm acquires Sunrise company
Sat, 04 Sep 2010 01:00 EDT
Taleo Corp., a California-based talent management firm, has acquired Sunrise-based Learn.com, a provider of software for employment management.<p/> Taleo bought Learn for $125 million in cash. Learn.com's software, which is run through the Web, helps companies manage education and training to help employees and customers.

AT&T's U-verse adds 19 Spanish channels
Sat, 04 Sep 2010 01:00 EDT
AT&T's U-verse television service has added 19 Spanish-language channels to its offerings this week, with a total of 52 channels in Spanish.<p/> To access the added cable channels, customers need either the Paquete Espa&ntilde;ol package of 46 channels, or the U200 Latino package: 220 English stations plus everything in Paquete Espa&ntilde;ol.

UM's dean of business school to leave post
Sat, 04 Sep 2010 01:00 EDT
Barbara E. Kahn is leaving her position as dean of the University of Miami's School of Business Administration effective Jan. 15, the school said in a release Friday.

AT&T's U-verse adds 19 Spanish channels
Sat, 04 Sep 2010 01:00 EDT
AT&T's U-verse television service has added 19 Spanish-language channels to its offerings this week, with a total of 52 channels in Spanish.<p/> To access the added cable channels, customers need either the Paquete Espa&ntilde;ol package of 46 channels, or the U200 Latino package: 220 English stations plus everything in Paquete Espa&ntilde;ol.

Public jobs feel pinch in cutbacks
Sat, 04 Sep 2010 01:00 EDT
Laquanda Mallin put on her hard hat, grabbed a seven-foot-tall STOP sign and took her post in 90-degree heat on a dusty road off one of Miami's busiest highways. The 31-year-old declared it a good day.

Sales gaining traction for exotic car dealers
Sat, 04 Sep 2010 01:00 EDT
Sales of some exotic luxury automobiles have revved up this year as affluent Americans indulge more freely in these pricey pleasures.<p/> In the recession, mounting concern over stock portfolios and feelings of guilt about extravagant buys caused some wealthy consumers to rein in conspicuous sending.

Burger King option trading surged before buyout bid
Sat, 04 Sep 2010 01:00 EDT
Trading of bullish Burger King Holdings options surged to a record Aug. 25, a week before the second-largest U.S. hamburger chain agreed to be acquired by 3G Capital.

Discount meds are just a text message away
Sat, 04 Sep 2010 01:00 EDT
Floridians can now sign up for the state's discount prescription drug card at the touch of a few cellphone buttons.<p/> Since April, the state's discount drug program has been available to all state residents. The card entitles users to discounts of an average of 33 percent off brand-name and generic prescription drugs. Savings are estimated to be about $8.4 million.

Regulators OK increases for Castle Key insurance customers
Sat, 04 Sep 2010 01:00 EDT
Rate increases for Castle Key Insurance and Castle Key Indemnity have been approved and take effect for new and renewing policies Nov. 28, the Florida Office of Insurance Regulation said Friday. The increases were smaller than what the companies had requested.

Restaurants look to fantasy football for real profits
Sat, 04 Sep 2010 01:00 EDT
Fantasy football means real business for restaurants, and some big chains have launched promotional drives to score with dedicated players of the growing pastime.

OneUnited may close branch in Broward
Sat, 04 Sep 2010 01:00 EDT
OneUnited Bank has filed with state banking regulators to close its Lauderdale Lakes branch, leaving it with only a Miami office in Florida. The Boston-based bank is the nation's largest minority-owned lender and has been under scrutiny since the financial crisis for seeking political favors to obtain a $12 million federal bailout.

Fort Lauderdale full-service gay hotel in works
Sat, 04 Sep 2010 01:00 EDT
The marketer who brought luxury to gay hotels in Fort Lauderdale and pioneered Broward County's gay tourism push is embarking on a new and innovative venture: a full-service hotel, complete with a spa, gym, cafe and bar that is aimed at gays but ``hetero-friendly.''

Global report: 30 million jobs lost in crisis
Sat, 04 Sep 2010 01:00 EDT
The global financial crisis forced as many as 30 million people out of work since 2007, and economies need ways to generate more ``decent'' jobs, the International Monetary Fund and International Labour Organization said.

Travel in style -- on a bus
Sat, 04 Sep 2010 01:00 EDT
A new luxury bus service launched this summer for the U.S. Southeast, with introductory rates for round trips starting at $40 between Orlando and Miami through Sept. 30.

Partners stage turnaround for Miami Beach condo
Fri, 03 Sep 2010 01:00 EDT
Terra Beachside Villas, the once-distressed Miami Beach condo building that has sat empty for two years, is searching for new life as its owners look to complete a rapid turnaround from foreclosure to full health.

Weakened Earl hits Mass. with wind, rain, surf
Sat, 04 Sep 2010 04:15 EDT
The remnants of Hurricane Earl headed for Nova Scotia early Saturday after a brush with the Northeast that was far less intense than feared, dumping wind-driven rain on Cape Cod's gray-shingled cottages and fishing villages.

Burger King to stop buying oil from Indonesian co.
Sat, 04 Sep 2010 03:55 EDT
Environmentalists on Saturday praised Burger King's decision to stop buying palm oil from an Indonesian company accused of destroying rainforests.

Plane wreckage removed from SF Bay Area lagoon
Sat, 04 Sep 2010 00:00 EDT
The wreckage of small plane that crashed in a lagoon off San Francisco Bay and killed the three people on board was recovered Friday. The founder of a local steel company was believed to be among the dead.

Report: Blackwater created shell companies
Fri, 03 Sep 2010 22:25 EDT
The security company Blackwater Worldwide formed a network of 30 shell companies and subsidiaries to try to get millions of dollars in government business after the company faced strong criticism for reckless conduct in Iraq, The New York Times reported Friday.

SEC reaches settlement with ex-Qwest CEO Nacchio
Fri, 03 Sep 2010 21:05 EDT
The Securities and Exchange Commission has reached a settlement in its civil lawsuit against former Qwest CEO Joseph Nacchio.

Court throws out $926 million Rocky Flats award
Fri, 03 Sep 2010 19:25 EDT
A $926 million award to thousands of Colorado homeowners in a lawsuit involving plutonium contamination from a now-defunct nuclear weapons plant was thrown out Friday by a federal appeals court.

Flight with hole in engine also had damaged flaps
Fri, 03 Sep 2010 18:10 EDT
Investigators say a mechanical failure that blew a hole in the engine of a Qantas jet headed to Sydney from San Francisco also damaged the wing flaps.

Business Highlights
Fri, 03 Sep 2010 18:05 EDT
---

Summary Box: Unemployment rate rises to 9.6 pct
Fri, 03 Sep 2010 17:50 EDT
UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.

Summary Box: Jobs data sends Treasury prices down
Fri, 03 Sep 2010 17:40 EDT
BETTER JOBS: Bonds fell again after the Labor Department's employment report for August was better than analysts had expected.

Obscure Allapattah shopping district may gain higher profile
Sun, 29 Aug 2010 01:00 EDT
In gritty Allapattah, a neighborhood known for its hole-in-the-wall Dominican eateries, three generations of the Bindra family sell $15 cotton dresses stitched by hand in a Mumbai textile factory owned by relatives.

IRS may drop UBS case after hand-over of Swiss data
Fri, 27 Aug 2010 08:42 EDT
Switzerland said it expects to deliver account data on almost 4,450 UBS clients suspected by the U.S. of tax evasion, prompting the Internal Revenue Service to say it will drop a lawsuit against the bank within months.

Swiss give IRS half the files it seeks
Fri, 27 Aug 2010 01:00 EDT
(AP) -- The Swiss government said Wednesday that it had handed roughly half the names of wealthy Americans demanded by Washington to solve a tax evasion dispute involving Switzerland's biggest bank, UBS AG.

Brazil's unemployment for July lowest in 8 years
Thu, 26 Aug 2010 12:42 EDT
Brazilian officials say unemployment in Latin America's biggest nation reached 6.9 percent in July, the lowest level for the month in at least eight years.

From outer space, a fuel of the future -- and a Florida crop
Wed, 25 Aug 2010 01:00 EDT
In a Gainesville laboratory, mutant plants created in space are being carefully watched because they could become a source of jet fuel.<p/> The fuel would come from the seeds of jatropha, a tropical plant with broad leaves and seeds that are up to 40 percent oil.

Art fairs face online challenge
Wed, 25 Aug 2010 01:00 EDT
The Internet revolution has at long last reached international art fairs as a new event tests buyers' willingness to shop online for contemporary works.

Miami business owners develop 'super premium' rum
Mon, 23 Aug 2010 01:00 EDT
You might say rum runs through the veins of business partners Lazaro Carbajal and Gardner Blandon, owners of Miami-based Dana Wine & Spirits Importers.

How Brazil got the Games: persistance, practice
Sat, 21 Aug 2010 23:30 EDT
How did Brazil manage to land two of the world's major sporting events back to back? Certainly not overnight. In fact, the feat has been nearly two decades in the making.

Brazil getting extreme makeover in preparation for Olympics
Sat, 21 Aug 2010 23:00 EDT
Traffic rumbles over an elevated highway that cuts off the waterfront from Art Deco government offices. Many of the old buildings in the port area are abandoned and others are marred by graffiti and shattered windows.

Costa Rica real estate firm seen as Ponzi scheme
Thu, 19 Aug 2010 01:00 EDT
She wanted a piece of paradise -- a tropical retirement home where the temperature is warm, the air is clean and the crowds and stress of South Florida are far, far away.

Promises of Costa Rican dream homes fueled a 'Ponzi-type scheme,' lawsuit says
Tue, 17 Aug 2010 07:01 EDT
She wanted a piece of paradise — a tropical retirement home where the temperature is warm, the air is clean and the crowds and stress of South Florida are far, far away.

Texas opens inquiry into Google search rankings
Fri, 03 Sep 2010 17:20 EDT
Google Inc.'s methods for recommending websites are being reviewed by Texas' attorney general in an investigation spurred by complaints that the company has abused its power as the Internet's dominant search engine.

AP Interview: Wikipedia founder bullish on news
Fri, 03 Sep 2010 17:06 EDT
Wikipedia founder Jimmy Wales believes relief may be in sight for the beleaguered news media industry.

German court rules against YouTube over copyright
Fri, 03 Sep 2010 14:01 EDT
A German court ruled Friday that Google Inc.'s subsidiary YouTube LLC must pay compensation after users uploaded several videos of performances by singer Sarah Brightman in violation of copyright laws.

Summary Box: iPhone app with augmented reality
Fri, 03 Sep 2010 11:10 EDT
THE APP: Available for the iPhone, mTrip is a travel guide and more. It uses the latest in smart phone technology to help travelers stay on track.

Review: mTrip iPhone app uses augmented reality
Fri, 03 Sep 2010 10:55 EDT
The new iPhone application mTrip is a travel guide and then some: It uses the latest in smart phone technology to make it easier to stay on track in a foreign locale.

Dubai police chief calls BlackBerry a spy tool
Fri, 03 Sep 2010 08:58 EDT
Worries about spying by the U.S. and Israel spurred plans to sharply limit BlackBerry services in the United Arab Emirates, Dubai's police chief said in comments that suggest a tough line in talks with the smart phone maker.

Add hip-hop to 'Rock Band' thanks to Snoop Dogg
Fri, 03 Sep 2010 10:11 EDT
Rap and rock will collide once again - this time in a video game.

Summary Box: HP snatches 3Par away from Dell
Thu, 02 Sep 2010 18:36 EDT
LAST-MINUTE SCRAMBLE: Dell Inc. boosted its bid for data-storage maker 3Par Inc. to $32. Hewlett-Packard Co. came back with a $33-per-share offer before Dell's move could be made public. The board of 3Par deemed HP's offer superior and approved the deal.

Summary Box: What's Dell to do after 3Par?
Thu, 02 Sep 2010 18:36 EDT
DEAL UNDONE: Dell Inc. surrendered the contest for data-storage maker 3Par Inc. to Hewlett-Packard Co. Thursday.

Dell's enterprise challenge remains after 3Par
Thu, 02 Sep 2010 18:36 EDT
Dell Inc. doesn't have to start over in its quest to become a significant purveyor of technology for businesses after losing a multibillion dollar bidding contest for an obscure data-storage maker.

ArcSight posts higher fiscal 1Q profit
Thu, 02 Sep 2010 18:31 EDT
ArcSight Inc. said Thursday its fiscal first-quarter profit tripled as the cybersecurity software and services company's sales jumped 39 percent.

Airline fares rose in first quarter, government reports
Thu, 29 Jul 2010 01:00 EDT
If you think airfares have been rising, it's not your imagination.<p/> Figures just released from the government, while a bit dated, show that airline prices in the first three months of this year rose nearly 5 percent from a year earlier. And that doesn't include baggage fees and other extras.

Miami-Dade tourist tax falls 20 percent
Wed, 07 Oct 2009 14:46 EDT
An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.<p/> An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.

Jackson Health System struggles to present balanced budget by Monday
Sun, 22 Aug 2010 07:45 EDT
As Jackson's governing board prepares to vote Monday on a proposed budget for 2011, its two money-losing nursing homes stand as a symbol for the challenges the system faces as it attempts to cut losses.

Incoming Florida Senate chief criticizes Obama health plan
Thu, 05 Aug 2010 01:00 EDT
Sen. Mike Haridopolos, the incoming state Senate president, kicked off a three-day ``Health Care Solutions Tour'' in Miami on Wednesday with a slide show that hit the major Republican talking points, including warnings about the cost of Obama's healthcare plan and the surge in the Medicaid program it will create.

Bascom Palmer Eye Institute ranked No. 1
Fri, 16 Jul 2010 01:00 EDT
University of Miami's Bascom Palmer Eye Institute was ranked as the No. 1 hospital in the country for ophthalmology in U.S. News & World Reports' 21st annual list of the country's best hospitals.

Hospitals may give too many imaging tests, government says
Thu, 08 Jul 2010 08:17 EDT
A small number of hospitals in South Florida and the nation appear to give too many imaging tests, and as a result may needlessly expose patients to radiation, federal officials said Wednesday.

eDiets.com receives Nasdaq warning notice
Tue, 06 Jul 2010 07:57 EDT
Fort Lauderdale-based eDiets.com, a provider of at-home diet, fitness and healthy lifestyle solutions, said that it received notice from the Nasdaq stock market that the company was not in compliance with Nasdaq's listing rules.

Program offers help to some without health insurance
Thu, 01 Jul 2010 01:00 EDT
Starting Thursday, people in Florida and across the nation who can't get private health insurance because they have preexisting conditions can sign up for coverage through a federal program subsidized by a $5 billion grant from the Obama administration.

Florida's hopes for $1B Medicaid infusion are dashed
Sat, 26 Jun 2010 01:00 EDT
Florida's chances of receiving up to $1 billion in additional Medicaid money appeared to be in deep trouble Thursday after U.S. Senate Republicans again blocked a bill that includes help for cash-strapped states and unemployed people.

Program to offer nursing degrees in Boynton Beach
Thu, 24 Jun 2010 08:07 EDT
The Florida Board of Nursing has given Florida Career College the go-ahead to start a two-year nursing program in Boynton Beach beginning in August.

Miami developer signs lease at University of Miami biotech center
Thu, 17 Jun 2010 01:00 EDT
The University of Miami Life Science and Technology Park is taking its first step toward creating a new biotechnology center. <p/> Developer Wexford Miami announced Wednesday that it has signed a lease with the University of Miami to occupy 80,000 square feet of office and lab space in the park's first building.

Miami developer announces first lease at UM biotech center
Wed, 16 Jun 2010 15:02 EDT
The University of Miami Life Science and Technology Park is taking its first step toward creating a new biotechnology center. <p/> Developer Wexford Miami announced Wednesday that it has signed a lease with the University of Miami to occupy 80,000 square feet of office and lab space in the park's first building.

Jackson Health System has a new chief medical officer
Sat, 12 Jun 2010 01:00 EDT
Michael K. Butler, a former chief executive of Louisiana's charity hospitals, has started work as chief medical officer of Jackson Health System, replacing Gerard Kaiser, 77, who retired as leader of the system's doctors for more than 20 years.

Palm Beach airport gets retail makeover
Sat, 04 Sep 2010 01:00 EDT
Didn't have time on your vacation to take a stroll along Worth Avenue? Not to worry -- just head to the main terminal at Palm Beach International Airport on your way out.

South Florida roofer arrested over bad checks
Sat, 04 Sep 2010 01:00 EDT
AND MICHAEL LAFORGIA<p/> A company run by a roofer facing a litany of lawsuits alleging shoddy work and failure to pay subcontractors wrote as many as 300 bad checks per month while doing business in Palm Beach County, authorities said.

Weakened Earl hits Mass. with wind, rain, surf
Sat, 04 Sep 2010 04:15 EDT
The remnants of Hurricane Earl headed for Nova Scotia early Saturday after a brush with the Northeast that was far less intense than feared, dumping wind-driven rain on Cape Cod's gray-shingled cottages and fishing villages.

Plane wreckage removed from SF Bay Area lagoon
Sat, 04 Sep 2010 00:00 EDT
The wreckage of small plane that crashed in a lagoon off San Francisco Bay and killed the three people on board was recovered Friday. The founder of a local steel company was believed to be among the dead.

Burger King to stop buying oil from Indonesian co.
Sat, 04 Sep 2010 03:55 EDT
Environmentalists on Saturday praised Burger King's decision to stop buying palm oil from an Indonesian company accused of destroying rainforests.

Fitch cuts rating for Burger King on buyout deal
Fri, 03 Sep 2010 07:57 EDT
Fitch Ratings on Thursday lowered its issuer default and outstanding debt ratings for Burger King Holdings, saying the company's debt is likely to increase once the fast-food chain is sold to a private equity firm.

Tipping TVs are recalled
Sat, 04 Sep 2010 01:00 EDT
Sharp Electronics is recalling about 9,000 32-inch LCD-TVs because the TV stand's neck support can break and cause the TV to tip over, posing a risk of injury to consumers.

Hang up on identity thieves
Sat, 04 Sep 2010 01:00 EDT
Social Security cautions people about responding to requests for financial information over the telephone.<p/> South Florida Social Security offices have received several reports about people claiming to be Social Security employees. They call benefit recipients and ask for their banking and identity information, claiming the information is needed to increase benefit amounts.

View More...
>As economic ties expand, Enterprise Florida plans Brazil base
Thu, 19 Aug 2010 13:00:00 GMT
Enterprise Florida, the state's economic development agency, plans to become a permanent fixture in Brazil to help Florida companies export to Latin America's largest economy and draw Brazilian investments here.

Foreigners take Miami's luxury condo lead
Thu, 19 Aug 2010 13:00:00 GMT
Foreign buyers are snatching up more than half of the luxury condos sold in South Florida, brokers say, with stronger foreign currencies against the dollar, coupled with trimmed condo prices, driving the deals.

Dolphin Mall hails double-digit sales rise 36 months in row
Thu, 19 Aug 2010 13:00:00 GMT
A struggling economy may be reality for many South Florida shopping centers, but apparently not for Dolphin Mall, where sales revenues continue to rise at a consistent rate.

World Trade Center weighs starting a disaster clearinghouse
Thu, 19 Aug 2010 13:00:00 GMT
Miami is already a gateway to the Americas for commercial cargo, but it seems getting disaster-relief supplies into the hands that need them most after a hurricane or earthquake doesn't always happen quite as smoothly as moving a shipment of airplane parts to Brazil.

At City of Miami's request, state attorney probes Bayside Minority Foundation funds
Thu, 19 Aug 2010 13:00:00 GMT
Responding to Miami city commissioners' call for answers, the state attorney's office has opened an investigation into the Bayside Minority Foundation's finances, a spokesman says.

City of Doral plans three municipal buildings, including a new city hall
Thu, 19 Aug 2010 13:00:00 GMT
The City of Doral may be seven years young, but officials have huge plans to expand area infrastructure. First on the agenda: construction of downtown Doral, complete with a city hall, police station and public works building.

Israelis, Venezuelans buy condos as homes, investments
Thu, 19 Aug 2010 13:00:00 GMT
Many of the international buyers scooping up condos in South Florida's top bayfront communities are buying to occupy part-time, brokers say, but many would consider a future sale at a profit.

View More...
LaSalle Acquires Three Hotels for $292.5M
Fri, 03 Sep 2010 06:39:21 GMT
LaSalle Hotel Properties has completed the acquisition of two hotels in Philadelphia and one in San Francisco, while selling off an asset in New Jersey. The Bethesda, MD-based hospitality REIT acquired the 294-room Westin Philadelphia and the 288-room...

CoStar's People of Note (Aug. 29-Sept. 4)
Fri, 03 Sep 2010 02:43:44 GMT
This week's People of Note includes the following markets: Atlanta, Inland Empire, Los Angeles, Milwaukee/Madison, New York City, Orange County and Washington, DC. ATLANTA Green Bldg. Expert Joins Grubb's Office Group Grubb & Ellis Co. appointed...

CoStar Repeat Sale Indices: Distress Contributing to a 'Shaky Bottom' for CRE Sales, Pricing
Thu, 02 Sep 2010 02:43:41 GMT
The CoStar Commercial Repeat-Sale Indices (CCRSI), produced by CoStar Group, found that investment-grade property continued to decline in value for the second straight month in July. Properties of sufficient quality and size for inclusion in large...

Tenants, Landlords Could Face Dramatic Changes from New Lease Accounting Rules
Thu, 02 Sep 2010 02:25:24 GMT
Northrop Grumman Corp.'s decision in July to relocate its corporate headquarters from Los Angeles to a 14-story, 334,385-square-foot building it acquired in Falls Church, VA, was a huge economic development victory for Fairfax County and the state of...

Bank Watch: Regulator Says Bankers, Not Bricks, Main Reason Behind Most Bank Failures
Thu, 02 Sep 2010 02:12:30 GMT
Don't blame the current wave of bank failures on commercial real estate; much of the blame belongs to bad bankers. While it is clear that commercial real estate and construction and land development loans have figured in most every bank failure in...

Latest CMBS Data Show More Secondary Markets Doing Better Than Some Larger Markets
Wed, 01 Sep 2010 02:14:05 GMT
The summer has brought little relief to metro areas experiencing the most distress on loans held in the commercial mortgage-backed securities (CMBS) universe. However, two markets have seen a noted improvement in their respective levels of CMBS loan distress...

Deloitte Leases 166,435 SF in San Francisco
Wed, 01 Sep 2010 01:23:16 GMT
Deloitte finalized its 15-year, 166,435-square-foot lease with Tishman Speyer at 555 Mission St. in San Francisco. The major international accounting and consulting firm will occupy nine full floors (four through seven and 10-15) with a move in date scheduled...

Lease Down (Aug. 29 - Sept. 4): Northrop Grumman, Aviat Continue to Downsize
Tue, 31 Aug 2010 05:47:33 GMT
CoStar compiles news of consolidations, closures, layoffs and lease cancellations in the weekly Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on corporate expansions...

In The Pipeline: CoStar Development and Construction News for Aug. 29 - Sept. 4
Tue, 31 Aug 2010 12:06:08 GMT
In this week's Pipeline, Forest City Enterprises will privatize and build family housing at four military bases in South Carolina, Tennessee and Mississippi; in Rockville, MD, business and government leaders will officially kick off a $200 million expansion...

Lease Up (Aug. 29 - Sept. 4): BP Selects Memphis Facility to Store Gulf Cleanup Materials
Mon, 30 Aug 2010 08:43:17 GMT
CoStar compiles news of corporate expansions, relocations and lease extensions in the weekly Lease Up news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on consolidatations and lease...

CoStar's People of Note (Aug. 22-28)
Fri, 27 Aug 2010 02:19:41 GMT
This week's People of Note includes the following markets: Atlanta, Denver, Hartford, New York City, Northern New Jersey, Retail, South Florida and Washington, DC. ATLANTA Brown Joins Cortland as Chief Acquisitions Officer Cortland Partners recruited...

Cornerstone, Kettler Sell Pentagon City Multifamily for $125M
Thu, 26 Aug 2010 06:59:47 GMT
Cornerstone Real Estate Advisers LLC and Kettler sold the Metropolitan at Pentagon City, a 325-unit multifamily complex at 901 S. 15th St. in Arlington, VA, to Invesco for $125 million. Invesco paid $111.7 million, or about $343,700 per unit, for the...

STG Leases 111,900 SF at Reston Town Center
Wed, 25 Aug 2010 07:11:59 GMT
STG, a contractor that provides IT services to the U.S. government, signed a 10-year office lease for 111,896 square feet at 12011 Sunset Hills Road in Reston, VA. The 12-story property totals 321,394 square feet in One Reston Overlook in the Reston...

Eight Takeaways on the Current State of Distress Opportunities
Thu, 26 Aug 2010 02:15:32 GMT
Since the start of 2009, buyers and sellers have transacted about $16.5 billion in distressed commercial real estate sales. Certainly more are expected to follow. Banks and CMBS special servicers are currently dealing with nearly $290 billion in distressed...

Speculation Rising Over Impact of Expiring Capital Gains Tax Cuts on CRE Sales
Wed, 25 Aug 2010 07:44:03 GMT
The debate over tax cuts enacted in 2001 is expected to heat up when the U.S. Senate reconvenes in September after its summer recess. The maximum tax rate on capital gains and dividends will revert from the current 15%, a 70-year low, back to 20% on Jan...

Abercrombie & Fitch Shuttering 110 Stores, GM Shrinks Real Estate Holdings, More Retailer Right-Sizings
Wed, 25 Aug 2010 03:21:44 GMT
CoStar compiles news of consolidations, closures, layoffs and lease cancellations in the weekly Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on corporate expansions,...

Survey: Recession Weakens 'NIMBY' Resistance to New Development Projects
Wed, 25 Aug 2010 03:53:33 GMT
Even as the level of new development and construction has fallen to historic lows nationally, a recent study suggests that recession-stung Americans appear to be more willing to support new commercial projects in their communities. That would be a rare...

This Week in Retail: NFL's Ray Lewis Looks To Be 'All Business' Off the Field Too
Thu, 26 Aug 2010 02:12:17 GMT
Baltimore Ravens star linebacker and likely Hall-of-Famer Ray Lewis has drafted a new team, RL52 Realty, a full service commercial real estate advisory firm. While the firm will help advise clients on decisions affecting all property types, the official...

Bank Watch: Regulators Close Seven Banks with $4.4 Bil. in Assets
Thu, 26 Aug 2010 02:13:46 GMT
The Federal Deposit Insurance Corp. (FDIC) lined up five buyers for seven newly closed banks this past week. Together the seven failed banks reported distressed commercial real estates of nearly $548 million combined. Summary of the seven banks deals...

InComm Expands to 186,000 SF in Downtown Atlanta
Wed, 25 Aug 2010 06:20:55 GMT
InComm signed an expansion deal that nearly doubled its space from 95,000 square feet to 186,000 square feet at the American Cancer Society Center in Atlanta. The stored-value gift and prepaid products marketer and distributor, a 14-year tenant of the...

Boston Properties to Acquire 510 Madison
Tue, 24 Aug 2010 06:54:49 GMT
Boston Properties said Monday that it is acquiring 510 Madison Ave. from oft-troubled New York developer Harry Macklowe. The REIT has agreed to a purchase price equal to the principal and accrued interest on the office tower's senior mortgage and...

In The Pipeline: CoStar Development and Construction News for Aug. 22 - 28
Tue, 24 Aug 2010 11:15:57 GMT
In this week's Pipeline, the Empire State Building failed in its bid to amend or halt plans by Vornado Realty Trust to build a nearly 1,200-foot skyscraper in the sightlines of the historic building; a Los Angeles-based fund is providing $22.6 millionto...

Lease Up (Aug. 22-28): GMHC, WNET Sign Major Manhattan Office Deals
Mon, 23 Aug 2010 10:15:52 GMT
CoStar compiles news of corporate expansions, relocations and lease extensions in the weekly Lease Up news report, a concise read keeping you updated on major corporate moves affecting commercial real estate. For news on consolidatations and lease...

Regal Entertainment Buys Trio Portfolio for $29M
Mon, 23 Aug 2010 05:28:54 GMT
Regal Entertainment Group acquired three movie theaters in Columbia, MD; Berkeley, CA; and Walled Lake, MI, from Westcore Properties for $29.14 million or $225.33 per square foot. United Artist occupies all of the locations. The assets include...

View More...
New Resorts Owners Roll Dice
Wed, 01 Sep 2010 14:22:47 EDT
Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.

Citigroup Gets Burned in the Caribbean
Thu, 02 Sep 2010 22:48:20 EDT
The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.

Corio's Turkish Strategy Stumbles
Wed, 01 Sep 2010 05:47:20 EDT
The Dutch company's expansion has yielded disappointing results due to the weak economy, competition and the difficulties of exporting Western shopping concepts to a country steeped in different traditions.

Help for Hyatt Isn't Enough
Tue, 31 Aug 2010 17:57:32 EDT
A Jacksonville hotel missed paying its mortgage despite $5 million in help from the Hyatt chain.

Kerry Buys Luxury Hong Kong Site
Tue, 31 Aug 2010 14:19:29 EDT
Kerry Properties bought a luxury residential site in Kowloon Tong for a higher-than-expected price at a government land auction.

Simon Closes Purchase of Prime Outlets
Mon, 30 Aug 2010 18:37:24 EDT
Simon Property Group said that it closed on its acquisition of Prime Outlets, which had come under FTC scrutiny for possible antitrust concerns.

On Horizon, New Manhattan Skyline
Mon, 30 Aug 2010 15:58:04 EDT
The approval of an office tower near the Empire State Building is a reminder that New York is poised for a wave of new skyscrapers -- if the economy cooperates.

Singapore to Damp Property Market
Mon, 30 Aug 2010 13:02:18 EDT
Singapore announced measures to cool off the property market as the island state's rapid economic recovery fuels prices.

Toll Is Back in the Black
Thu, 26 Aug 2010 09:53:20 EDT
Shares of luxury builder Toll Brothers climbed following a surprise fiscal third-quarter profit, its first in nearly three years, as revenue fell far less than analysts expected.

Henderson Land's Underlying Profit Falls
Thu, 26 Aug 2010 10:13:00 EDT
Henderson Land Development's underlying first-half net profit fell 37% due to losses stemming from the cancellation of some property sales.

Omni Snares Bankrupt Amelia Island Resort on Florida Coast
Thu, 26 Aug 2010 09:42:55 EDT
Omni Hotels & Resorts plans to expand the Amelia Island Plantation by more than 100 rooms after prevailing in an auction this week to buy the bankrupt oceanfront resort in northeast Florida.

Commercial Property Owners Choose to Default
Wed, 25 Aug 2010 11:11:12 EDT
Like homeowners walking away from mortgaged houses, some large commercial property owners are defaulting on debts and surrendering to lenders buildings worth less than their loans.

Houston Sees Market Go Wobbly
Tue, 24 Aug 2010 23:52:30 EDT
The aviation and energy industries boosted Houston during the downturn, but the events of the last six months have injected a new uncertainty into the city's economy—and, by extension, the office market.

Developers Circling Berlin Airport
Tue, 24 Aug 2010 19:05:32 EDT
Two years ahead of the opening of the Berlin Brandenburg International Airport, investors are beginning to build in anticipation of demand by companies eager to be close to Berlin's new travel hub.

Capital Freeze Thaws for Real-Estate Funds
Wed, 01 Sep 2010 14:19:54 EDT
Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.

WestVest Associates, Inc. 9600 NW 25th Street, Penthouse Miami, FL 33172 l (305) 717-5401 l info@westvest.com
Home | Our Team l Why Us l Vendors Alliance l Glossary l Search l Contact Us l Policy Terms l Private Listings l Careers l News | Newsletter | Sitemap
Se habla español Web Design by Turbonacho