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Volume 3 - Number 23 | December 11, 2006
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TOP STORY: Green Building Attracting Investors, Developers, Tenants
By Erika Morphy
More than a year after it announced a $1 billion, five year commitment for green building, Wells Fargo & Co. has financed 13 buildings that will undergo the Leadership in Energy Efficiency and Design (LEED) certification program, a voluntary standard developed by the U.S. Green Building Council for high-performance, sustainable buildings.
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REM Coverage Goes Green
By John Salustri
With 50% potential short-term growth, green building is on the radar of building owners, developers and users. Real Estate Media tackles the issue in a major way.
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Trendy Presale Strategy Credited With Fast Retail Closings
By Alex Finkelstein
Using what it calls a relatively new trend in retail investment marketing, Irvine, CA-based Faris Lee Investments credits a presale strategy in the $24.2-million sale of the newly constructed, 90,881-sf Harkins Theaters & Shops complex in Chino Hills, CA and the $5.22-million sale of a new 7,683-sf retail building in the Silverado Ranch Shopping Center in suburban Las Vegas. The building sale equates to $680 per sf, the highest per sf price paid to date for a Las Vegas retail property off the strip, says Dennis Vaccaro, Faris Lee Investment's director of advisory services.
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Limited-Service Hotels Outpacing Full-Service Properties
By Alex Finkelstein
Limited-service hotels outpaced full-service properties in both revenue and profits in the first six months of this year, according to a new analysis by PKF Hospitality Research, an Atlanta based affiliate of PKF Consulting. Limited-service hotel revenue grew 11.1% in the first six months of this year, the report states, resulting in a 17.7% gain in gross operating profit. During the same period, full-service hotels posted a 9.5% gain in revenue and a 12.4% increase in profits, the report, Trends in the Hotel Industry, states.
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Insider: Liquid Realty’s Scott Landress
By Erika Morphy
Four years ago, San Francisco-based Liquid Realty Partners was founded on a unique premise for the real estate industry. That is, the need for a market to trade private real estate, partnerships and trusts on a secondary basis. Since its founding in 2002, the marketplace has developed steady traction. But as a talk with CEO and managing principal Scott Landress confirms, it remains very much a niche space.
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