October 19, 2005 | Vol. 2 No. 20

10/19/2005 Issue

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Volume 2 - Number 20 | October 19, 2005

TOP STORY: Data Centers Go From Surplus to Hot Commodity
By John McCloud
The recent turnaround of two Silicon Valley data centers for an unusually high profit underscores the unexpectedly rapid recovery of the data storage center as a hot real estate commodity.

MARKET BEAT: Second Quarter Overview of Some Smaller Markets
By John McCloud
At 11.1%, the overall Hartford, CT vacancy rate is down from 14.2% a year ago and is at its lowest point in over a decade. Approximately 1.2 million sf was leased, resulting in positive absorption of 113,970 sf. Over 80% of the square footage leased year-to-date was for warehouse space, reducing the warehouse vacancy rate to 7.7%, a 4.7-point drop from midyear 2004.

INSIDER: Russ Colvin of CORE Realty Holdings
By John McCloud
In just a few months, CORE Realty Holdings has grown to own and manage more than six million sf of commercial real estate for its owners and private investors. In September it ventured into the Midwest, paying $61.3 million for 1.7 million sf of industrial space in western Michigan. IPJ spoke with CORE president and CEO William Colvin--nicknamed Russ--about the company’s ventures so far and the Michigan purchase in particular.

Investors See San Joaquin Valley as Alternative to Higher-Priced Southern California Markets
By John McCloud
Southern California’s tight sales market has prompted investors to contemplate diverting some of their capital northward to Stanislaus and San Joaquin counties. But brokers in the region indicate that development sites offer more potential than existing properties.

South Florida Land Shortage Brings Soaring Property Values
By John McCloud

DATA POINTS: Overall Market Performance and Outlook

SHORT TAKES

EXECUTIVE MOVES

RECENT TRANSACTIONS