Cassidy Turley - Columbus News

ALCATEL-LUCENT telecom company may move to new site

2010-12-16T07:18:00.000-08:00

Alcatel-Lucent might relocate within central Ohio, a move that would mark the company's exit from the E. Broad Street complex where AT&T once employed 12,000 people. Dublin is a possible new home for the telecommunication com-pany, which has about 500 local employees and about 100 contract workers.

Click here for full Columbus Dispatch story.

Local tech firm provides massive computing power

2010-11-22T07:35:00.000-08:00

Bluemile Inc. is a Columbus-based tech company that aims to become as ho-hum reliable as a utility. But first, it has to explain to clients what it does. And that isn't easy to do, co-founders Michael Marlowe and Jamie Busic acknowledge.

Click here for full Columbus Dispatch story.

570 jobs coming to New Albany if aid is approved

2010-11-17T07:55:00.000-08:00

Three companies plan to bring a combined 570 jobs to New Albany, according to plans presented to the village council yesterday. The companies would move to the village's business park, contingent on receiving state aid.

Click here for full Columbus Dispatch story.

Distribution business employing 480 in Dublin sold to private-equity firm for $930 million

2010-11-09T07:04:00.000-08:00

Ashland Inc. is selling its distribution business to a private-equity firm for $930million, a deal that the company says should not lead to job losses in central Ohio. The company has 1,200 employees in Dublin, including about 480 who are part of the division that has been sold. The new owner, TPG Capital, intends to maintain the presence in the region, with no major changes in employment, said James Vitak, an Ashland spokesman.

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Taking a closer look at an old way of selling property: the commercial auction

2010-11-01T06:34:00.000-07:00

In today’s commercial real estate market, the three “T”s join the proverbial three “L”s as important elements in the sale of assets. While the old axiom of location, location and location still holds water, timing, timing and timing have become increasingly important, especially for assets that are treading water or have sunk into financial difficulties.

Read the full Midwest Real Estate News story here.

Bank Credit Freeze Shows Signs of Thawing

2010-10-28T06:25:00.000-07:00

Maybe it is time we start taking bankers at their word that commercial real estate wasn't and isn't a catastrophe waiting to happen. Maybe, just maybe, as they've been telling us for the last four consecutive quarters, there are serious risks but they are manageable and are being dealt with and disposed of.

Read the full Costar story here.

ProLogis sells $1 billion industrial portfolio to Blackstone

2010-10-21T08:11:00.000-07:00

ProLogis (NYSE: PLD), the world's largest warehouse and distribution center owner, announced it will sell a portfolio of North American industrial properties, stakes in three property funds and a hotel interest to affiliates of Blackstone Real Estate Advisors for $1.02 billion.

Read the full Costar story here.

ProLogis Sells $1 Billion Industrial Portfolio to Blackstone

2010-10-21T07:42:00.001-07:00

Major Bicycle Company Leases 225,500 SF in Groveport

2010-10-07T08:01:00.000-07:00

Specialized Bicycle Components, also known as Specialized, a major bicycle manufacturer, leased 225,504 square feet in the industrial facility at 5820 Opus Drive in Groveport, OH.

Read the full Costar story here.

Follow the Money: Another $6.9 Billion Pours into Real Estate Investors' Coffers

2010-10-07T07:51:00.000-07:00

Companies and funds reported raising $6.88 billion in September for real estate-related investments and financing. The funding imbalance continues however, as the buying power of the portion of funds targeted for properties is far more than the total value of monthly acquisitions lately.

Read the full Costar story here.

Best Practices in Distress Investing: No Single Strategy Fits All

2010-09-20T06:45:00.000-07:00

When it comes to commercial real estate investment, distress is all the buzz. It's the catchword that seems to always precede the word 'asset' and is currently the archetypical investment craze. There has been a downpour of money targeting distressed property, and according to CoStar Group data, almost one in every four commercial property sales done so far this year fits in some sort of distress category, whether it's an REO or foreclosure sale, delinquent or underwater loan, or a property with negative cash flow.

Read the full story on CoStar here.

Columbus named hub for advanced manufacturing

2010-09-13T08:01:00.000-07:00

Central Ohio on Friday was christened as a state hub for advanced energy manufacturing and storage, a designation that could mean thousands of dollars in grants for area companies and a higher economic development profile for the region.

Read complete Business First of Columbus story.

Rickenbacker terminal part of better rail route to the East Coast

2010-09-09T07:45:00.000-07:00

Trains are nothing new in central Ohio, but they are poised to play a bigger role in the area's economy. Beginning today, Norfolk Southern will use the revamped Heartland Corridor line, taking advantage of what the company calls the "single biggest railroad engineering project in modern history." It included enlarging tunnels through mountains and raising bridges in other places.

Read the full Columbus Dispatch story here.

Group to gather buildings' stories

2010-09-09T07:43:00.000-07:00

Near the Northeast Side intersection of Wendy's and Subway and Courtyard by Marriott, another piece of Columbus history faces an uncertain fate. A farmstead built in the mid-1800s sits on land owned by the Columbus Regional Airport Authority, near Cassady Avenue and I-670. It will be needed someday for something at Port Columbus, but officials haven't decided what or when.

Read the full Columbus Dispatch story here.

120 jobs: Incentives lure steel business to Columbus

2010-08-31T07:40:00.000-07:00

An Arizona-based wire-mesh and steel company plans to establish a plant in Columbus that will employ 120, and it received a state tax credit yesterday to aid in the process. International Technical Coatings of Phoenix plans to establish a 667,000-square-foot plant in Columbus to house the company's Eastern steel-wire drawings and manufacturing operations. The location has not been announced. The project is valued at nearly $15million.

Read the full Dispatch story here.

CRE lending turns a corner, but still has a few more to turn

2010-08-19T13:29:00.000-07:00

There was little to cheer about in the second quarter numbers from bank holding companies when it comes to commercial real estate lending. While banks generally reported overall improved asset quality, they noted that declines in the value of commercial real estate assets continued to eat away at those improvements.

Read the full Costar story here.

CoStar's July 2010 commercial repeat-sale Indices Indicates a pause and softening in iInstitutional grade investing

2010-08-04T11:02:00.000-07:00

Commercial real estate pricing has been a tale of two worlds, with the largest metropolitan markets attracting significant institutional capital and forcing prices upward over the first two quarters of 2010, while the broader market has continued to soften, according to the first monthly CoStar Commercial Repeat-Sale Indices (CCRSI), produced by CoStar Group, Inc.

Read the full story here.

Proposed industrial parks in Circleville, Springfield get state funding

2010-08-02T10:49:00.000-07:00

Two sites on the fringes of Central Ohio have been awarded nearly $4 million in state funding to back the creation of new industrial parks.

Read the full Business First story here.

Fewer industrial buildings in area sit empty

2010-07-27T10:41:00.000-07:00

More of central Ohio's warehouse and other industrial space was leased in the first half of the year than in the recent past, according to data released yesterday by Cassidy Turley, a Columbus commercial real-estate firm.

Read the full Dispatch story here.

Central Ohio's Industrial Vacancy Dips Below 11 Percent for First Time in a Year

2010-07-25T10:42:00.000-07:00

After an up and down market in 2009, 2010 started with two consecutive quarters of decreasing vacancy. Direct vacancy decreased 48 basis points to end the second quarter at 10.92 percent. Rick Trott, Principal and Senior VP says that we are far from a normal leasing market, but two straight quarters of decreasing vacancy is a sign we are heading for better times. “Hopefully, a continued recovery in the economy will lead to an increase in leasing velocity. We forecast a leveling-off period before real gains can be made starting mid-year 2011,” says Trott.

Read the full Cassidy Turley release here.

Executives hired to promote area economy

2010-07-07T10:33:00.000-07:00

The Columbus Partnership said yesterday that it has hired two executives to fill new posts as it tries to reshape economic development in central Ohio. Veteran economic-development leader Kenny McDonald was named senior vice president and chief economic officer of the partnership, a group of 38 central Ohio CEOs.

Read the full Dispatch story here.

$2.3 billion in troubled CMBS loans coming due over next 6 months

2010-07-01T11:51:00.000-07:00

There are 960 fixed rate loans representing $9.6 billion scheduled to mature by the end of the year, according to a Fitch Ratings' review of CMBS fixed rate commercial loans. Of these 960 loans, 103 loans representing $2.3 billion (23.3%) are in special servicing. Of those in special servicing, 27 loans (representing 48% by balance) are current.

Read the full story from Costar.

$2.3 billion in roubled CMBS loans coming due over next 6 months

2010-07-01T11:16:00.000-07:00

Investors Snap Up High-Quality Multifamily Properties as Rents, Occupancy Improves. With apartment vacancies appearing to have peaked, and U.S. rents even starting to edge up slightly, offerings of quality multifamily assets have attracted multiple bidders and secured premium prices in the first half of 2010, with investors having an especially keen appetite for institutional-grade assets in attractive coastal markets. However, as with most asset classes in the current commercial real estate market, multifamily sales are largely divided between the asset

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Cassidy Turley ranked #1 property management Firm and #3 brokerage firm in the Midwest in Midwest Real Estate News surveys

2010-06-28T07:00:00.000-07:00

Midwest Real Estate News ranks Cassidy Turley #1 in Property Management and #3 in Brokerage Services. The rankings are based on data collected by the publication from commercial real estate firms operating in the Midwest.

“These rankings reflect our deep commitment to providing best in class services,” commented Dean Mueller, Executive Vice President of Investor Services for Cassidy Turley. “We recognize the importance of focusing on the long-term success of our clients by consistently being their advocate. Our combination of market intelligence and experience honed over many years enables us to deliver the integrated, tailored solutions our clients are seeking.”

Read the press release here.
View the full "Best of the Best" issue here.

Wall Street Rating Agencies See Improving Outlook for REITs

2010-06-17T07:51:00.000-07:00

Challenges Remain, However, As High Vacancies and Weak Rent Growth Expected to Hinder Property Level Income Into 2012 and Possibly Beyond
Read the full story on Costar.