Costar News

CoStar's People of Note (Apr. 28)

April 28, 2017 | 1:00 AM PST

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City, Boston, Chicago, Dallas / Ft. Worth, Toronto, Charlotte, Atlanta, Houston, Washington DC and San Diego. NEW YORK CITY Newmark Grubb Taps Former Colliers Exec Craig Robinson to Lead Global Corporate Services By Randyl Drummer <img src="http://gateway...

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Market Trend: Inland Empire's Office Vacancy Decreases to 9.1%

April 27, 2017 | 11:31 PM PST

The Inland Empire Office market ended the first quarter 2017 with a vacancy rate of 9.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 391,049 square feet in the first quarter. That compares to positive 91,759 square feet in the fourth quarter 2016. Vacant sublease space increased in the quarter, ending the quarter at 160,424 square feet. The Class-A office market recorded net absorption of negative...

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Newcastle Parnters Delivers Knox Logistics Center On Spec

April 17, 2017 | 7:15 PM PST

Newcastle Partners, Inc., has completed construction on the Knox Logistics Center, a 147,354-square-foot warehouse built on-spec at 17618 Harvill Ave. in Perris, CA. The new structure sits on an 8.2-acre lot at the northeast corner of Harley Knox Blvd., immediately adjacent to the 215 Freeway in the Riverside County submarket of the Inland Empire. This facility features a total of 5,063 square feet of built-out office space along with 32-foot...

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Temecula Office Trades for $6.1M in REO Sale

April 11, 2017 | 1:43 AM PST

MC Strauss Co. purchased the Vista Office Centre office building at 43460 Ridge Park Dr. in Temecula, CA for $6.05 million, or about $129 per square foot, in an REO sale from ORIX Capital Markets LLC. Built in 2001, the two-story building totals 46,785 square feet on 3.1 acres in Riverside County. Mary Piper and Sheri Shoemaker of Lee & Associates, along with Dan Vittone of Vittone Realty Services, represent both parties in the sale. For...

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