Google plans to establish its new UK headquarters in London’s up-and-coming King’s Cross district. According to Reuters, the company purchased a 2.4-acre plot at the King’s Cross Central development where it will build its 1msf office building ranging in height … Continue reading →
Heitman Financial Ltd. has purchased Commons Park West – a 337-unit apartment complex in Denver’s Central Business District – from JPMorgan Chase for a $98.1 million ($346/sf or $291,000/unit), according to Denver Business Journal. The transaction sets the record for the … Continue reading →
Singapore has implemented a stamp duty on industrial property sales to dissuade short-term speculation, according to Bloomberg. Effective as of January 12, sellers will pay a 15 percent tax for sales of warehouses and factories occurring within the first year … Continue reading →
Net present value (NPV) is the difference between the present value of a time series of cash inflows and the present value of a time series of cash outflows (or initial investment and fees). Present value is calculated as follows: … Continue reading →
Joseph Sitt of Thor Equities recently purchased a 35,000sf retail portion at 680 Madison Avenue for $277 million, according to The Wall Street Journal. Before the recession, rents on Madison Avenue between 57th and 72nd streets were as high as … Continue reading →
The due diligence period in a commercial building sale is usually 45 to 60 days, during which the buyer and the broker work together to study the property. The factors to study include: Building Inspection: Structural and mechanical components must … Continue reading →
Investment sales improved in 2012 compared with 2011. Year-to-date volume is at $225 billion, according to John Salustri, quoting data from Real Capital Analytics (RCA). November volume stood at $19.5 billion – a 40 percent increase over November 2011. RCA … Continue reading →
A zero cash flow property (“zero property”) is a property with a long-term (20+ years), stable lease by a credit tenant attached to it. The investment is highly financed and all of the rent usually goes to the lender. Values for zero … Continue reading →
Korea’s most expensive officetels (multi-purpose buildings with residential and commercial units) are located in Seoul’s Gangnam district with prices as high as $434/sf,
Continue reading →On December 11, Neyer Properties purchased two downtown Cincinnati Class A office buildings (Centennial Plaza I & III) in auction for $3.5 million, according to Commercial Property Executive. The seller, New Boston Centennial, paid $13 million for the properties in 1999. Centennial … Continue reading →