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This week's People of Note includes the following markets: Chicago, Dallas/Fort Worth, Los Angeles, Milwaukee/Madison, New York City, Philadelphia, Pittsburgh, South Florida, Washington, DC. LOS ANGELES Cockrum Joins Lowe Enterprises Investors as SVP By Laurie Forbes Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in th

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Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in the Los Angeles office of the real estate investment management firm. “LEI forecasts an attractive real estate investment environment for its targeted strategies. Over the last year we have added several talented professionals to our team to position LEI to take advantage of these opportunities...

A two-week period of exclusive negotiations between Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission. Under the previous agreement, Grubb & Ellis provided an exclusive right to negotiate for BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of...

The nation's two largest public pension funds had trouble pulling in returns in 2011. Thankfully, though, real estate wasn't the culprit. The California Public Employees' Retirement System (CalPERS) earned a small, but positive 1.1% return for the 12-month period ended Dec. 31, 2011. According to CalPERS investment staff, the fund experienced a 7.9% loss in its public equity asset classes due to the high volatility of global equity markets in...

A two-week period of exclusive negotiations between ailing Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission. The agreement provided the exclusive right to BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of Santa Ana, CA-based Grubb & Ellis...

Goldman Sachs is the putting out the first new CMBS offering of 2012. GS Mortgage Securities Trust 2012-GC6 is a pool of 80 fixed-rate loans totaling $1.15 billion and backed by 127 properties. The loans were originated by Goldman Sachs Mortgage Company (45.8%), Citigroup Global Markets Realty Corp. (45.1%), and Archetype Mortgage Funding ILLC (9.1%). According to Moody's Investors Service, the concentration of multifamily and manufacturing...

Safeway Inc. purchased the 27,396-square-foot retail building at 1311 Wilshire Blvd. in Santa Monica, CA, from Williams Family Partnership for $16.7 million, or about $609 per square foot. At the time of sale the buyer, doing business as Vons, was leasing the property and decided to purchase it. The building was completed in 1966 and is on 1.38 acres. Chris Sands of Keller Williams Commercial represented both parties. For more information...

C-III Capital Partners LLC (C-III), a leading commercial real estate services company, has completed its acquisition of NAI Global, the largest network of independent commercial real estate firms worldwide. C-III, which is headquartered in New York, specializes in primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. According to NAI...

JJ Entertainment Inc. signed a 10-year lease with two five-year options for 20,000 square feet of retail space at 186 Village Court in San Dimas, CA. It will be a new location for Jumping Jacks, an entertainment business that hosts birthday parties, fundraisers and school field trips. Build-out is expected to take approximately eight months and the anticipated opening is for late summer of this year Built in 1981, the retail building, formerly...

Lift-It Manufacturing purchased the 38,678-square-foot industrial building at 1603 W. Second St. in Pomona, CA, from Seventh Street Development for $4.06 million or $105 per square foot. The structure was built in 2007 and was delivered vacant. The new owner relocated from Vernon to occupy the larger, newer building. Barbara Emmons, John Privett, Lyn Eisenhower and Lyn Knox of CBRE represented the seller. Thomas Condon of Colliers International...

Principal Real Estate Investors and Trammell Crow Co. have paired up again to establish a national development program to develop $1 billion in office and industrial buildings in targeted markets throughout the U.S. Under the program, Trammell Crow will co-invest with Principal Real Estate Investors in the projects to be developed and provide all development services. The venture recently closed on its first deal, acquiring an 11.6-acre tract of...

Lowe's Cos. sold the office structure at 8399 Topanga Canyon Blvd. in Canoga Park, CA, to Valley College of Medical Careers, a building tenant, for nearly $4.88 million or $128 per square foot. The three-story property totals 38,113 square feet. Valley College of Medical Careers will eventually utilize the second and third floors. Lowe's purchased the property in 2002 for excess parking for a Lowe's store location. However, the parking was...

Gootkin Properties acquired the 30-unit Mountain Shadows Apartments building in Newbury Park, CA, for $5.1 million or $170,167 per unit. Mountain Shadows Apartments LLC was the seller. Built in 1965, the building at 2740-2760 Borchard Road is 31,170 square feet and is on 1.97 acres. There are six one-bedroom/one-bathroom units and 24 2-bedroom/1.5-bathroom townhouse units. There is on-site laundry and the utilities are separately metered. At the...

In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Trammell Crow, Principal Launch $1B Development Program Principal...

This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC. DALLAS, NATIONAL Behringer Harvard Appoints New President, CEO of REITs By Laurie Forbes Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place

While perhaps not a nationally significant or unusual deal by itself, U.S. Cellular's renewal this past month of an office lease in Madison, WI, succinctly depicts the current state of leasing. U.S. Cellular agreed to extend its lease with affiliates of Wells Real Estate at the U.S. Cellular Building, a four-story, 102,000-rentable-square-foot office building. The Chicago-based carrier leases 73% of the building and owns a 45% equity interest in...

This is it! Don't miss out on this opportunity to have your 2011 professional accomplishments recognized by making sure you get credit for the leases and sales you closed in 2011 and you may qualify for the CoStar Power Broker Awards! The deadline to submit your transactions is next Wednesday, February 1, 2012. As the leading industry award recognizing the "best of the best" in commercial real estate brokerage, the CoStar Power Broker Awards...

The Federal Reserve Bank of New York today sold $7.014 billion in face amount of residential mortgage-backed securities to Credit Suisse Securities (USA) LLC from a portfolio of assets once belonging to American Insurance General through a competitive process. The transaction was prompted by an unsolicited offer from Goldman Sachs & Co. to BlackRock Solutions, the investment manager for ML II, in January 2012, to buy a portion of ML II assets. The...

Jerry Devons joined Rexford Industrial, a privately held Southern California industrial real estate investment firm, as director of leasing and asset management. Devons will oversee the leasing and asset management for the company's industrial property portfolio. The Penn State grad was previously at RREEF, a member of the Deutsche Bank Group, serving as its vice president of asset management responsible for operating, leasing and improving the...