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Savvy dealmaking pays off for 71 Stevenson St. Over the past year 71 Stevenson St. has established itself as a maverick among office towers. APCA fund enters region by buying a building in South Philly A real estate investment fund run by the Ashforth Co. and Paradigm Capital Advisors paid $7.65 million for an industrial building in Philadelphia, marking its first foray into the city. Coca-Cola inks Distriplex deal Three industrial deals totaling more than 100,000 square feet have brought Net Magan LLC's Memphis portfolio to 96% occupancy. Retail vacancy rate on the rise in Memphis due to overbuilding, corporate downsizing From restaurants to video stores to big-box retailers, Memphis has seen numerous store closings in recent months, which contribute to increasing retail vacancy in the market. Rouse vision complete in new tower In four weeks, Liberty Property Trust will officially open Philadelphia's newest, greenest and most modern skyscraper. Liberty Property is increasingly betting on city centers MALVERN -- Comcast Center is the largest building Liberty Property Trust has constructed and the largest single investment the company has made. The skyscraper also marks a new chapter for the real estate developer. Miami Twp. building set for new tenants A spin-off company from Standard Register Co. soon will move out on its own. Baltimore Crossroads developer lures another headquarters tenant White Marsh manufacturer Pevco Systems International Inc. has signed a deal to move its headquarters to Baltimore Crossroads @ 95, becoming the second firm to do so and lending momentum to the 1,000-acre business park at a time when the pace of deals is slow. Bethesda developer pays $7.6M for Odenton industrial property Bethesda developer StonebridgeCarras has paid about $7.6 million for Nevamar Corp.'s former industrial land in Odenton, hoping to build an office and retail complex. General Growth sells CareFirst HQ for $95M after legal fight General Growth Properties has sold two Owings Mills buildings -- the headquarters of CareFirst BlueCross BlueShield -- for $95 million after a legal battle stymied an earlier deal. Retail developer continues to grow JACKSONVILLE -- The wheels of economic progress might be slowing elsewhere, but for Ed Ash they've churned fast enough in the past year to increase his commercial real estate property square footage by 60 percent. Pikesville developer finds silver lining in credit crunch Gas prices are at record highs, businesses are cutting back on spending, and many of the nation's largest retailers are reporting quarterly losses. Property tax amendment slated for Nov. ballot Florida voters in November will have the option to cut their property taxes by about 30 percent -- a move that would create an estimated $9 billion hole in school funding. 'The street that time forgot' Where 'as is' is 'OK' DAVIS ISLANDS -- Drive over the only bridge onto Davis Islands. Stop in the heart of the commercial district, mostly that long block between Biscayne and Barbados avenues. Close your eyes briefly and reopen them. Orlando No. 1 in state's high-tech industrial space Metro Orlando has the most high-tech industrial space in Florida -- about 1.24 million square feet, says a new quarterly report by Cushman & Wakefield Inc. Industrial spec building still strong in slow economy Speculative industrial construction in Orlando continues to surge, despite the nationwide economic slowdown. Pitliangas gives makeover to two buildings on Olive Mark Pitliangas is bulking up his portfolio of buildings on Olive Street, with plans to add a restaurant and wine bar to the downtown scene. Lake County purchases industrial site for $8M A newly built cement block manufacturing plant will remain vacant on Lake County's tax rolls for the foreseeable future. State seeks to redevelop Crownsville Hospital site The former Crownsville Hospital Center could soon be sold to developers, though building on the 532-acre property could be a greater challenge than the competition to buy the coveted land from the state. St. Pete Walgreens sold for $2.8M The following information about sales was released to the Tampa Bay Business Journal: D.C. office owners want change in electric billing law In a period of ulcer-inducing electricity costs, most businesses want to pay bills based only on the amount of energy they actually use. But for many businesses in the District -- unlike in Virginia and Maryland -- doing so would break the city's law. Fraser Forbes Co., Calkain Cos. team to prepare for rebound Land sales have dropped dramatically in the Washington area because of the credit crunch and economic slowdown, but two local real estate companies have created an alliance to prepare for the rebound. Two Tabor start moved to summer The debt crunch has pushed back the start of construction on downtown Denver's much-anticipated $200 million Two Tabor Center office tower to the summer. Nonprofit scouting for $13M Last year, the Boy Scouts of America Capitol Area Council Inc. trained nearly 2,000 den leaders and scoutmasters at churches and community centers across Central Texas. Department of Defense lease renewal signals BRAC delay Even as the Defense Department nears a decision on where to move its Washington Headquarters Services, it is quietly renewing nearly 775,000 square feet, keeping the agency in Crystal City for at least two years past the 2011 target date set three years ago by a base-closing commission. Aquila Commercial gains principal Former colleagues are being reconnected as real estate heavyweight BRAC activities put pressure on county officials Planners at a pair of local governments are scrambling to deal with the spinoff from the pending shake-up of military jobs in the Washington area. World Trade Center eyed for downtown Nashville Local business owner Robert Thompson wants to open a World Trade Center in downtown Nashville that experts say would open the door internationally to the area and provide new jobs. StonebridgeCarras turns Odenton industrial plot into office, retail Bethesda developer StonebridgeCarras has paid about $7.6 million for Nevamar Corp.'s former industrial land in Odenton, Md., hoping to build an office and retail complex. Developers hand out goodies to bring in tenants Picture the drive-through lane at a fast-food joint at its busiest hour, with cars stacked up around the building waiting for a turn at the window. DBI wins Constitution Center job DBI Architects Inc. was awarded the interior architecture contract for Constitution Center at 400 Seventh St. SW. Proposed BRAC project hit with financing issues A North Carolina developer has yet to line up financing for an ambitious $300 million project tied to military defense contractors, a year after announcing its plans for the 75-acre office and retail park in Havre de Grace, Md. Burlington slowly making shift to premium space In the past year, Network Drive at Northwest Park in Burlington has emerged from the shadows of the original Sun Microsystems Inc. office park that spawned it. New Cornish & Carey exec moves on after he couldn't move up at CBRE The broker who oversaw the largest commercial real-estate sale in Silicon Valley history left CB Richard Ellis to become president of rival firm Cornish & Carey because he wanted to run a company and did not see that opportunity where he was. Broker says Arizona property deserves foreign investment Bernard Otremba-Blanc is helping Europeans find a home away from home in Arizona, and with that he may be bringing more than just seasonal residents. Commercial work builds as residential projects wane Kansas City-area construction workers are falling in step with a nationwide march from single-family home sites to commercial building projects. Slow-and-steady attitude gives developer record year Mike Schueler said he is in the "get rich slow" game. Lenox Park provides office space gateway to burgeoning 385 submarket, suburbs Lenox Office Park stands at the gateway of the 385 submarket and the border of the city and the suburbs. Owners of ex-HP site get redevelopment approval Palo Alto developer Steve Dostart has gotten the nod from the city of Mountain View to redevelop 15.5 acres at a prominent location fronting Highway 237 near U.S. 101. The site was previously owned by Hewlett-Packard Co., which sold it last year amid heavy buyer competition before capital markets collapsed. Demolition gets Cincinnati Freestore closer to its new space FreestoreFoodbank has torn down a vacant office building at 12th and Central Parkway to make way for a new facility to house its administrative offices and give its Cincinnati Cooks! culinary training program and catering service a permanent home in which to grow. John L. Scott brings internet strategy home with deal The deal: John L. Scott buys technology partner to keep innovation alive in web-based real estate marketing. TCF forecloses on 57-acre site in Brooklyn Park TCF Financial Corp. has foreclosed on a vacant 57-acre commercial development site in Brooklyn Park. Morgan Stanley inks deal for Irving space Morgan Stanley has leased space in Koll Development Co.'s "Intellicenter" building in Irving as part of a move that consolidates the firm's residential mortgage businesses under one roof. But the amount of space the New York-based financial services firm will occupy appears to be substantially less than the firm originally planned to take. Rosedale Towers sold; firm will move HQ there Commercial real estate investor Ted Glasrud last week paid $8.6 million cash for the tallest office building in Roseville, where he intends to move his company's headquarters. Hempel Properties nearing deal for Rand Tower in Minneapolis Hempel Properties Inc. is close to buying the Rand Tower in downtown Minneapolis from Gaughan Cos. Taiwan manufacturer taps Carrollton for plant In a reversal of the offshoring trend of the past few decades, Taiwan-based metal component manufacturer Fong Kai Industrial Co. Ltd. is starting up a new plant in Carrollton. LoopNet thrives in down market As national real estate woes begin to spread from the housing to office, one market is still holding up relatively well: LoopNet's online commercial real estate marketplace. OP office building aims to add more space, a 'sense of place' The owner of a College Boulevard office building hopes to establish a "sense of place" for the property while seeking Overland Park's approval of plans for a second building that could open in 2009. Cox eyes Perimeter office tower Cox Enterprises Inc. is proposing a 28-story office tower at its Lake Hearn campus near Perimeter Mall to park its rapidly growing AutoTrader unit. Economic adjustments A long-held Bay Area commercial real estate theory argues than in a recession companies look to control costs by moving to the East Bay, with its relatively affordable office space. Intermodal project taking fast track A $300 million intermodal facility and industrial park under development in Fort Bend County could create 2,000 jobs over the next 15 years. Boosters: City of Dunwoody would be good for business Dunwoody business owners are keeping close watch on a planned July 15 incorporation referendum amid uncertainty over how a "yes" vote would affect the Perimeter Center business district. Warehouses where it's at after dive of the dollar While the dollar slides, opportunities appear: Owning warehouse space in the East Bay is one of those opportunities. New CHP HQ takes U-turn Despite legislation tailored to bring a California Highway Patrol headquarters to West Sacramento, the new central command could be going to Sacramento instead, leaving some frustrated developers in its wake. Galleria building sale sets price record The purchase price was not released, but a real estate source says the 567,000-square-foot building sold for $122 million, or approximately $215 per square foot. Demand for industrial space hits five-year low Metro Atlanta's industrial market just posted its worst quarter in five years -- another sign that the influence of the housing crisis is spreading into traditionally strong areas of the local economy. Street/Sotheby's goes commercial with hiring of medical specialists Street/Sotheby's International Realty in Upper Arlington has taken a step toward creating a statewide residential brokerage by hiring agents Thomas Dalcolma and Paul Heiserman. Jackson County has the Rx for Walgreen Co. One of the largest -- and most covert -- industrial deals in recent months just wrapped up. (WAG) (DUK) (SPG) Prudential Gary Greene goes commercial with new venture With the residential real estate market in the midst of a major slowdown, Prudential Gary Greene, Realtors has launched a commercial division to take advantage of the continued demand for leasing and tenant representation for small commercial projects. Panattoni lays off 13 local employees and 100 nationwide Panattoni Development Co. Inc. has laid off at least 13 local employees and 100 nationwide, sources said. Potential fed tenants turned away due to Ft. Sam growth San Antonio economic development officials are stepping up to the plate to help locate office space for federal agencies now being turned away from Fort Sam Houston due to the construction activity spurred by the 2005 Base Realignment and Closure (BRAC) decision. San Antonio apartment community to make way for major mixed-use project A local developer's purchase of an apartment community in North Central San Antonio could hold the key to jump-starting new development along a major artery feeding into the expanding Fort Sam Houston. Louisiana firm making a major investment in Broadway corridor A real estate firm out of Shreveport, La., has a plan to revamp an older industrial building in San Antonio -- and thus breathe new life into a stretch of land just outside of the city's inner loop. Nine businesses commit to Norton Commons development As gas prices continue to climb, Norton Commons resident Paul Blackburn counts his blessings that he only has to walk downstairs to go to work. Port San Antonio moving forward with Kelly Town Center plans During last week's Civic Leaders Luncheon, officials with Port San Antonio briefly discussed plans to move forward with the development of a 200-plus acre, mixed-use project called Kelly Town Center. Pinole Point Business Park sold for $54.2M Sares Regis Group of Northern California has bought the half-finished 100-acre Pinole Point Business Park in Richmond for $54.2 million, pouncing on one of the largest tracts of industrial land to come on the market in the Bay Area in years. UC-Davis M.B.A. program graduates to new, bigger location Rapid enrollment growth has prompted the UC-Davis Graduate School of Management to shift its M.B.A. Program for Working Professionals to a new location at one of the East Bay's biggest employment centers, Bishop Ranch Business Park in San Ramon.

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