April 1, 2008 | Vol. 6 No. 7

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Volume 6 - Number 7 | April 1, 2008

TOP STORY: Single-Tenant Office, Retail Sales ‘Bright Spots’ in Market
By Michelle Napoli
Single-tenant properties, particularly in the office and retail sectors, are representing a “bright spot” in an otherwise slow transaction market because of their appeal as a “recession-proof” option for investors.

Okun Indicted, Accused of Using Exchange Funds for ‘Lavish Lifestyle’
By Michelle Napoli
A federal grand jury in Richmond, VA has indicted Edward H. Okun, 57, the owner of qualified intermediary company 1031 Tax Group, on three charges--one count each of mail fraud, bulk cash smuggling and making false statements.

Citizens Bank Portfolio Trades for $135M
By Michelle Napoli
A portfolio of 114 Citizens Bank branch buildings has traded hands for $135 million, having weathered the stormy capital markets intact since first going under a letter of intent last August.

British Land, Sainsbury Form $2.4B Property JV
By Michelle Napoli
British Land Co. and J Sainsbury PLC have formed a 1.2-billion British pound--or approximately US$2.4-billion--property joint venture.

Data Points: Net Lease Cap Rates Up in Q4, Korapcz Survey Says

Short Takes: Schorsch to be Featured Interview at RealShare Net Lease

Recent Transactions: New REIT Makes First Acquisitions

Ratings Update: Outlooks Revised for Denny’s, Michael’s