November 4, 2008 | Vol. 6 No. 21

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Volume 6 - Number 21 | November 4, 2008

TOP STORY: Net Lease Transactions Down 60%, Says New Boulder Report
By Michelle Napoli
A Boulder Net Lease Funds report points to a 60% decline in closed net lease transactions from last year. The report also says available properties for sale has decreased by 25% in the same period.

Ackman Urges Target to Spin Off Land Ownership With REIT
By Michelle Napoli
William Ackerman with Pershing Square Capital Management and Target shareholder suggests the retail land giant spin off the land into Target Inflation Protected REIT. The REIT would lease land back to the retailer through a 75-year ground lease.

Insider: BRC Advisors’ Sean O’Shea
By Michelle Napoli
O'Shea shares his views on trends in the market with NET LEASE forum.

Update: DDR Says Mervyns Sites Are Fine
By Robert Carr
The Cleveland developer is confident in its investment in the chain, noting that its 37 stores are protected while Mervyns goes through bankruptcy and liquidation.

Data Points: BTS Space Steady, But Overall Industrial Construction Drops
Bob Bach with Grubb & Ellis Co. says Q3 ended with 93.4 million sf of industrial product under construction, which is 21 million sf less than the previous quarter.

Short Takes: Cozzi Tapped as New Gramercy Capital Chief

Recent Transactions: Two Tutor Time Assets Trade for $8.25M

Ratings Update: CMBS On Watch Due to Single-Tenant Mervyns Properties