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Grubb Secures 11% Loan Secured by Accounts Receivable

March 31, 2011

Been a while since I posted anything, but this was too good to pass up: Grubb & Ellis Company (GBE: 0.00 N/A) announced that it has received an $18 million financing commitment from private equity firm Colony Capital, LLC. In turn, the Los Angeles-based international investment firm has secured the right to negotiate exclusively for […]

40 Million Americans Receiving Food Stamps

May 10, 2010

1 in 8 Americans is now receiving food stamps, a new record. Despite the economy purportedly adding jobs again, it is also adding to the number of people on food stamps. The USDA numbers show that 39.68M Americans were receiving food stamps in February, up 260,000 from January. And the problem is expected to grow. […]

Wal-Mart Scoping Former Mervyn’s Spaces in Southern California

May 10, 2010

Wal-Mart is opening up a mini-version of its Supercenters in in-fill markets in Southern California. It has signed a lease to take over a former 75,000SF Mervyn’s. The typical Supercenter is 150K+ SF. The company is also testing even smaller-format 10-20K sites in various parts of the country. The decision to “downsize” in in-fill markets […]

Kudos to Cornish & Carey

May 10, 2010

It seems that the folks over at Cornish & Carey have decided to put rental rate and available space information back up on their website. I was admittedly harsh on them back in January when I wrote a post about why I felt hiding this information was counterproductive and against the interests of the landlords […]

Mark to Market: Sunnyvale R&D Trades For $40 PSF

May 7, 2010

Well there you go, $40 psf on a building, and less than $1M/acre for a Sunnyvale R&D project. We’re back to the lows of 2003 as far as land costs go when Gilbane acquired the 12-acre site of Kifer Commerce Park for about $19 psf. The purchase of 645 Almanor by Trumark sets a new […]

What The Market Told Us Today

May 6, 2010

We were told that a trader put in a “B” (for billion) instead of an “M” (for million). Then we’re told it was tied to the E-Mini futures. Let’s say we’re naive enough to believe the B vs M scenario is accurate. The total market capitalization of the US stock market is probably somewhere around […]

Roubini’s Back: “In A Few Days There Might Not Be A Eurozone”

April 28, 2010

The prolific Roubini is back! At the Milken Global Conference on a panel to discuss the Eurozone, Roubini indicated that “in a few days…there might not be a eurozone for us to discuss.” That certainly is an extreme view. But if you have been following the Greek debt crisis, one thing is certain, and that […]

Richard LeFrak on CNBC With a Wait and See Attitude

April 27, 2010

Richard LeFrak of the LeFrak Organization was on CNBC with Maria to discuss commercial real estate. He continues to be somewhat cautious and is taking a “wait and see” approach, though there is certainly more cautious optimism out of him. Echoing his comments, multifamily continues to be hot with investors scrambling to take a stab […]

JLL Squeezes Out a Profit in Q1

April 27, 2010

Jones Lang LaSalle (JLL: 143.69 +0.43%) posted earnings this afternoon and they managed to squeeze out a small profit in a continuing sign of stability in the brokerage business. The company reported a profit of $200,000, which although paltry, is a vast improvement from the $60M loss they posted a year ago for the same […]

Government Taking Donations To Pay Down Debt

April 22, 2010

Believe it or not, the government has established a website whereby you can make a donation to help pay down the public debt. Absolutely classic. See for yourself Do your part and donate $30K!

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