Macklowe’s Back as CMBS Delinquencies Continue To Rise

After suffering some pretty big losses over the past two years, Harry Macklowe is back. This time he has teamed up with CIM Group to take control again of the development site on Park Avenue in New York.
The partnership between Macklowe and CIM will pay off about $510M of debt on the site, which was [...]

ProLogis and AMB Present at Goldman Conference

ProLogis and AMB presented at the Goldman Sachs Commercial Real Estate Symposium in New York. Despite the risks that still exist, both groups are seeing more reasons to be optimistic.
One interesting point on the webcast was that even through the peak, there were not that many large industrial portfolios that were backed by CMBS, and [...]

AMB Property’s Hamid Moghadam on Bloomberg

Hamid Moghadam, CEO of AMB Property Corporation on Bloomberg. AMB’s portfolio includes som 150M plus square feet of industrial real estate worldwide.
…he thinks we’ve hit a trough and reasonably optimistic over next 6-9 months….

August 2009 RREEF Property Cycle Monitor

RREEF has put out its August update of its Property Cycle Monitor. Full file embedded below, but key takeaways:

Slower production and spending in the greater economy is negatively affecting the commercial real estate market. The institutional property market continues to correct and values are falling as fundamentals continue to deteriorate. Fundamentals are projected to worsen through 2010 as [...]

365,000 SF Former Mervyn’s Distribution Facility in Fremont For Sale or Lease

The former Mervyn’s distribution facility in Fremont has been put up for sale, or lease. The asset is approximately 365K SF, and sits on a 31.5 acre parcel. There is approximately 26K SF of Office, with the balance 25′-32′ clear height warehouse was was built in 1990. The address is 48200 Fremont Blvd.
The owner is [...]

ProLogis Coming To Market With Huge Portfolio; 2-3M SF in SF Bay Area

Prologis (PLD: 14.52 0.00%) is bringing to market a portfolio of approximately 30M square feet of industrial properties for sale in the next few weeks. We’ve heard that approximately 2-3M square feet of that will be located in the Bay Area. The company is shedding assets to try to pay down its debt load. The [...]

RCA Data on Distressed and Troubled Assets

Found at RetailTraffic, the chart to the left (click for larger view) shows which sectors the distress is in commercial real estate. Development looks to be in the most distress, followed by office, retail, apartment, hotel, and industrial. The total dollar amount of this distress is $25.6B (across more than 1,000 assets).
The chart also attempts [...]

SFO Logistics Center Sells To Centrum

Centrum Properties and Angelo, Gordon, & Co. purchased SFO Logistics Center from the GSA for roughly $72M. The price also included an adjacent 5 acre parcel which the buyers will use to improve accessibility to the warehouse, in addition to building an additional 50K SF of industrial space on.
The logistic center/warehouse is approximately 571K SF [...]