September 2, 2008 | Vol. 6 No. 17

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Volume 6 - Number 17 | September 2, 2008

TOP STORY: Closings, Bankruptcies Bring Heightened Attention to Tenants
By Michelle Napoli
Bankruptcies combined with a troubled economy had single-tenant property investors carefully examining their current portfolios and potential acquisitions in Q2.

Update: FTC Declines FEA’s Request for QI Industry Regulation
By Michelle Napoli
The FTC denies a request from the Federation of Exchange Accommodators for federal regulation and oversight of 1031 exchange qualified intermediaries.

Tesco Closes Four SLBs Totaling US$1.1B
By Michelle Napoli
UK retailer Tesco closes four separate property sales with investors totaling 605 million British pounds (approximately US $1.11 billion). The 13 stores and one distribution center totaled more than 1.7 million sf.

New Net Lease Brokerage And Consulting Firm Launched
By Michelle Napoli
Sean Leahy opens Traditional Realty Advisors in Phoenix office to offer expanded services to single-tenant investors.

AT&T Sells More Assets With Atlanta, Dallas SLBs
By Michelle Napoli
AT&T sells two more assets in sale-leaseback arrangements. Equity Capital Management buys the 406,292-sf BellSouth building in Atlanta, while Icahn Enterprises snags the 1-million-sf One AT&T Plaza in Dallas.

AmTrust Buys Chicago Tower in Partial Leaseback With BofA
By Michelle Napoli
Bank of America sells the 1.25-million-sf city landmark, with sources pinning the price at $190 million.

Data Points: Cap Rates, Construction Down, Sales Volume Up for Big Box Retail

Short Takes: Mervyns to Close 26 Stores

Recent Transactions: Canadian Tire Inks C$174M SLB

Ratings Update: Moody’s Lowers Rating on YUM! Brands