Metairie, LA (PRWEB) July 29, 2010

RE/MAX Commercial Brokers, Inc. listing agent, Robert Hand, MBA, announces that 10 acres of land in Orleans Parish has just become available for sale. Conveniently located at Read Road and I-10, the property is the largest apartment-zoned land available in Orleans and Jefferson Parishes.

Bern-Mas Apartments which previously occupied the land was destroyed during Hurricane Katrina in 2005; however, the devastated area is experiencing a growth in population at 7 times greater than the national average. The property is surrounded by the rebuilding efforts of multiple businesses and residences, including Lowe’s, Village de Jardin senior housing center, and the recently announced Methodist Hospital development.

“It is anticipated that the growth in this area will create an imbalance of demand over supply for multi-family housing,” stated RE/MAX Commercial agent Robert Hand. “The sale of this property could fill this void.”

RE/MAX Commercial Brokers is exclusive marketing agent for the RM-4 zoned property, with a listing price at $1.42 million. The zoning provides for a variety of dwelling types including apartment hotels, the larger of these being accompanied by accessory commercial uses, including restaurants and retail shops. Interested buyers should contact Robert Hand for an information packet and to schedule a site visit.

About Robert Hand, MBA

Robert Hand is the only commercial real estate agent in Louisiana who is also a Registered Investment Advisor with a Series 7 Securities license and MBA degree. Hand’s unique background brings expertise in meeting the multi-faceted needs of institutional investors, insurance firms, pension plans and developers in buying and selling real estate. RE/MAX Commercial Brokers’ New Orleans and Covington offices have ten full time commercial-only agents with decades of experience in helping clients buy, sell and lease a wide variety of property including Office, Industrial, Retail, Multi Family, Land, and Historic Properties.

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2010/07/prweb4311984.htm

Prudential is “relatively optimistic” about office, retail store, apartment and hotel real estate, where large properties typically held by institutional investors are seeing multiple bids, albeit in rare cases when they are offered, Marc Halle, a manager of the Prudential Global Real Estate Fund, said on Tuesday.

“Last time it took five years for real estate values to go down to where they bottomed. … We’ve done that now in about two years,” he told reporters in New York. “So we are going to see a faster recovery, a faster write-up in the market.”

Halle said his outlook refers to properties in major cities.

A lack of construction, due to the lack of funding, could keep new supply from hitting the market for up to five years. Rents are also bottoming, reducing the drag on income that is key to commercial real estate values, he said.

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Chicago (PRWEB) July 13, 2010

Real estate developer Derrel McDavid has announced the final 11,250 square feet of space available for lease at the Winston Tate Building, a 18,750-square-foot commercial/residential loft building at 110 W. Kinzie Street in River North on Chicago’s Near North side. The Winston Tate Building is currently home to Mercadito, a contemporary Mexican restaurant, and Snaidero, an upscale Italian cabinet and kitchen design firm.

Built in 1908 as a cotton mill, the building has undergone a complete renovation within the past three years and now offers five floors measuring 3,750 square feet each, with floors three through five available for lease. A new façade, rooftop deck, lobby, intercom system, elevator and stairway system complement the brick and timber beam loft spaces. Each level offers a full wall of windows along the north- and south-facing walls, while the fifth floor also features east-facing windows and a skylight. Zoned for commercial/residential use, the Winston Tate Building provides a unique opportunity for prospective tenants in search of a live/work, office or showroom space.

According to Derrel McDavid, partner in Kinzie Investments, LLC, the building’s location one block east of the Merchandise Mart, the world’s largest wholesale design center, places it in the heart of the city’s fashion and design district.

“Designers who are looking to expand their presence beyond a showroom at the Merchandise Mart will find that the Winston Tate Building offers a modern and inspiring environment,” said Mr. McDavid. “This building also includes personal touches that you won’t find everywhere, such as an on-site property management team and private, keyed elevator service to each floor. Yet the rental rate is extremely competitive at $20 per net square foot.”

One such tenant that was looking to expand beyond its showroom at the Merchandise Mart is Snaidero. Two years ago, the company was in search of an additional space that would be well suited for a commercial design studio. The Winston Tate Building’s proximity to the Merchandise Mart, as well as an ability to build out the space to its specifications, led Snaidero to lease the entire second floor.

The building also is ideal for those in need of a live/work space. In fact, the fifth floor previously served as a residence and office for the building’s development team. “An artist who wants an in-home studio, or an accountant or lawyer with their own practice, will appreciate the building’s security-enabled entrance for receiving guests and clients, as well as the convenience of both an elevator and stairway,” noted McDavid.

Available for $7,500 per month, the full-floor penthouse, two-bedroom/two-bath residence features luxury finishes including a Wolf® professional series stove, Sub-Zero refrigerator, Meile® dishwasher, and built-in coffee and espresso maker in the kitchen. The kitchen also includes extra-thick granite countertops, a skylight and a breakfast bar and banquette with custom seating by Urban Source. A wet bar off the kitchen includes a U-Line beverage center for entertaining.

The master bedroom includes a 200-square-foot walk-in closet, fireplace and private bath with a Jacuzzi® hot tub and Toto® toilet. Additional features of the home include an office space with two skylights and exposed brick; a dual-sided fireplace in the living and dining areas; automatic shades on the windows; a security system; and both central and local lighting control. The original wood floors have been refinished throughout.

Both commercial spaces as well as the private residence also have access to the 2200-square-foot roof deck which offers two levels, built-in seating, a pergola and striking views of Chicago’s downtown.

For more information about the Winston Tate Building, please contact Derrel McDavid at (708) 848-2115

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Abilene, Texas (PRWEB) July 8, 2010

The former Galaxy Car Wash in Abilene, Texas, is now available for auction from Assiter Auctioneers. This property is located in a prime commercial location and could be converted into a great locale for any business venture. The auction for this piece of commercial real estate will take place on July 28 at 4 p.m. Central time. Auction registration will be available approximately one hour prior to auction.

Fitted with all-new wash equipment in 2007, the full service Galaxy Car Wash building is in impeccable condition, making it the perfect opportunity for a new car wash owner or an existing owner or franchiser to expand. However, the property’s 30,324± SF lot size and prime location at the high traffic intersection of North 10th Street and North Willis Street in Abilene make it a great opportunity for any business venture. Many major businesses are currently building in the area, making it an ideal piece of Abilene, Texas, real estate. In fact, the building and its location are so versatile that it once served as a deli sandwich shop.

This 4,831±-square-foot concrete block over wood frame building has a great reception area that can be used in many different business scenarios. For those interested in keeping the location as a full service car wash facility, all wash features, including pumps, hydraulic system, air compressors, control system, water softener, etc., with the exception of the conveyer, was replaced new in 2007, meaning little investment would be needed for operation.

Any business owner looking for real estate in Abilene, Texas, should look no further than this commercial real estate property.

Viewing of the property will take place from 2 to 6 p.m. on July 14 and July 21, and from 10 a.m. to 4 p.m. on July 28.

For more information about this Abilene, Texas, commercial real estate property for auction, visit www.assiter.com.

About Assiter Auctioneers
For more than 25 years, Assiter Auctioneers has successfully conducted well over 5,000 auctions across the country, converting over $5 billion worth of assets to cash.

Contact:
Caleb J Paul
806-418-1257

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Together with Lazard the Edinburgh-based bank has been drafting a structure to offload its vast portfolio of real estate debt that has weighed on its balance sheet, the paper said, citing people close to the talks.

RBS and Lazard declined to comment.

“The interesting part of this portfolio is whether it’s the really distressed side of the loan book, the ‘just a bit stressed’ side, or the performing side,” said Andrew Radkiewicz, managing director at Pramerica Real Estate Investor.

“We suspect it’s not the loan book that RBS wants to keep relations with for the long term … so this is veering more towards more complicated loans,” he said, adding the portfolio sale could likely come with substantial vendor financing.

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Highwoods, based in Raleigh, is one of the Southeast’s largest real-estate investment trusts. It focuses on developing, owning and leasing properties in the industrial, office and retail sectors.

It announced in May 2007 that it was exiting the Winston-Salem market as part of evaluating it as a non-core market.

The company sold its Madison Park campus, which consists of seven buildings, to LRC Opportunity Fund, according to Tabitha Zane, a vice president of corporate communications for Highwoods.

Madison Park has a combined 472,200 square feet of space that are on average about 25 years old and 51 percent occupied. Among the buildings being leased are two by Blue Cross Blue Shield of North Carolina.

Howard Lavitt is a principal in LRC Opportunity Fund and of Lavitt Realty Corp.

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Pimco, a bond investment company, gathered data for their report by dispatching researchers to 10 cities who met with more than 100 market leaders.

The study said the following:

“Commercial real estate shares most of the sins of its residential cousin–extremely weak underwriting, excessive leverage and absence of risk management from both banks and rating agencies.”

Other key findings in the report included:

• While capital has returned to commercial real estate, the report said, “Optimism should be tempered, because national price indices are misleading when transactions are limited and fail to reflect the significant uncertainty around property valuations.”
• Price won’t return to 2007 levels only toward the end of this decade due to the fact that the transfer of commercial real estate risk out of the banking system may take longer than previous cycles.

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Valley Forge, PA (Vocus) June 18, 2010 — The Susan G. Komen “Build for the Cure” home in Fort Mill, S.C. is well equipped for the region’s humid climate, thanks to the donation of moisture- and mold-resistant wallboard products from CertainTeed Gypsum.

Beginning in June, the installation of this high performance interior wallboard will be featured in the television program “For Your Home” on PBS stations across the U.S. In the episode, CertainTeed professional Don Taylor, LEED Green Associate, explains how to select the perfect wallboard for a home for both function and aesthetics.

“Build for the Cure is a program that does more than just build beautiful homes. It honors a great cause to make life better for the many women battling breast cancer,” said Amy Lee, marketing communications manager for CertainTeed Gypsum. “We are pleased to help with the donation of gypsum products that contribute to a healthy indoor environment.”

The 5,700 square foot home was built by E.S. Johnson Builders, LLC, and was completed in September 2009. The home includes several CertainTeed Gypsum products, including M2Tech® Moisture and Mold Resistant Gypsum Board, GlasRoc® Sheathing Type X, GlasRoc Tile Backer, as well as gypsum finishing products. Proceeds from home tours and the sale of the home benefited the local affiliate of The Susan G. Komen Foundation.

CertainTeed’s ProRoc with M2Tech Gypsum Boards achieve best possible scores for mold resistance per ASTM D 3273 and ASTM G21. All of the face and back paper used in ProRoc Gypsum Board is made from 100 percent post-consumer recycled paper. Type X products are UL rated for fire resistance, and therefore improving safety and longevity of a building. CertainTeed’s product offerings can also contribute to LEED® credits for use in green building design projects.

Offering a broad range of gypsum and finishing products for interior and exterior needs, CertainTeed Gypsum has served the North American building industry for more than 80 years. This, in combination with the full range of affiliate CertainTeed Corporation’s building products, provides architects, contractors, builders and dealers one partner to provide service and support for commercial and residential building projects.
For more information, visit www.certainteed.com/gypsum.

About CertainTeed
Through the responsible development of innovative and sustainable building products, CertainTeed has helped shape the building products industry for more than 100 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” quickly inspired the name CertainTeed. Today, CertainTeed® is North America’s leading brand of exterior and interior building products, including roofing, siding, windows, fence, decking, railing, trim, foundations, pipe, insulation, gypsum ceilings and access covers.

A subsidiary of Saint-Gobain, the world’s largest building products company, CertainTeed and its affiliates, including CertainTeed Gypsum, have more than 6,000 employees and more than 65 manufacturing facilities throughout the United States and Canada. In 2009 and 2010, CertainTeed, which is headquartered in Valley Forge, Pa., was named ENERGY STAR Partner of the Year by the U.S. Environmental Protection Agency, a national award that recognizes environmentally responsible corporations. The group had total sales of approximately $3 billion in 2009. www.certainteed.com.

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For the original version on PRWeb visit: http://www.prweb.com/releases/2010/06/prweb4158364.htm

The intense competition between insurance companies and investment banks to make loans may soon lead to a decline in loan quality, Mark Davis, a senior managing director at Allstate Investments LLC, told Reuters after a panel sponsored by the Commercial Real Estate Finance Council.

“I don’t think underwriting has eroded significantly so far. So I think the quality of loans that has gotten done is still good. But I’m concerned when I see the trend that people are being very, very competitive for loans,” Davis said.

One of the biggest U.S. lenders at the conference suggested his group is now going through a “rationalization” of whether to take more underwriting risk. If the market is bottoming, easing underwriting guidelines on properties with slightly more debt can make sense, the lender said.

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After investment firm Lehman Brothers collapsed in September 2008, real estate investors worried there would be a widespread sell-off of debt-laden commercial properties.

While the values of office buildings and other commercial properties have fallen, the anticipated flood of foreclosures and bankruptcies has not occurred — and probably will not, said James Koster, president of Jones Lang LaSalle’s capital markets group.

“We should be in a relatively good position to not have this other shoe drop,” said Koster.

U.S. regulators have allowed banks to extend, restructure and modify loans. That has given the real estate markets a chance to regroup and for values to rise above their rock-bottom levels.

For properties whose mortgages have been securitized, delinquency rates have soared. The percentage of borrowers whose loans have been securitized into commercial mortgage-backed securitized (CMBS) and who are 30 days late with payments reached 8.42 percent in May, according to Trepp, which tracks CMBS performance.

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