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Volume 4 - Number 18 | September 19, 2006
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TOP STORY: Olsen, Prescott Group Launch Net Lease Investment Fund
By Michelle Napoli
Steve Olsen and the team behind CB Richard Ellis Investors’ Global Net Lease Partners have launched a new investment fund, the Prescott-GNLP Corporate Trust LP, whose investors include the Gordon P. Getty Family Trusts. Structured as a private REIT, the fund is expected to have a total of $150 million of equity that should translate to between $500 million and $600 million of acquisitions in the single-tenant office and industrial sectors.
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Legal Watch: Mayor Daley Vetoes Big-Box Ordinance
By Marita Thomas
Mayor Richard Daley has vetoed the so-called “big-box ordinance,” passed by the City Council in July. The failed measure would have required retailers with more than $1 billion in sales and stores of more than 90,000 sf to pay wages that are significantly higher than the current Illinois minimum of $6.50 an hour.
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Insider: Faris Lee Investments’ Richard Walter
By Michelle Napoli
Faris Lee Investments, an Irvine, CA-based brokerage that specializes in retail properties, has extensive experience with the California markets, the retail property sector and 1031 exchange investors. NET LEASE forum recently spoke with Faris Lee president Richard Walter about his firm’s plans, the 1031 sector and the single-tenant property market.
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