|
|
|
|
|
Volume 2 - Number 24 | December 21, 2005
|
TOP STORY: CalEast CenterPoint Buy Shows More Consolidation
By John McCloud
Last June, Cushman & Wakefield executive vice president Barney Upton predicted other industrial REITs would merge to make them strong enough to meet the competion. The recent acquisition of Chicago's CenterPoint Properties Trust by CalEast Industrial Investors LLC fulfills his forecast. CenterPoint, the affected REIT, is gaining strength through absorption into a non-REIT.
|
|
Contractors Group Predicts Higher Construction Costs
By John McCloud
If developers and contractors think construction cost increases were steep in 2005, they should brace themselves for 2006. Ken Simonson, chief economist for the Associated General Contractors of America, says construction costs could go up another 10% to 15%, depending on the project and region.
|
|
Texas REIT Buys Into Up-and-Coming Sacramento Market
By John McCloud
A private real estate investment trust formed by San Antonio, TX-based USAA Real Estate Co. to acquire Class-A bulk distribution properties made its entry into Northern California in November. But rather than head to the high-profile markets of the San Francisco Bay, the US Industrial REIT (USIR) penetrated the region by acquiring a 1.2 million-sf portfolio in Woodland.
|
|
|
|
|
|
|
|
|
