Sunday, February 28, 2010
ATLANTA (Feb. 25, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Ken Baudry (top right photo) , founder and former president of KJ Baudry Inc. and a leading data center expert, has joined the company as senior vice president, National Data Center Practice, effective immediately.
With more than 23 years of experience in real estate brokerage, data center design, consulting and project management, Baudry will represent owners and users in their data center real estate needs while overseeing Grubb & Ellis’ National Data Center Practice efforts in the Southeast region.
“By recruiting top talent and leveraging the company’s national platform, the National Data Center Practice has become a leading service provider to many major corporations, including Equinix, Sabey and United Airlines.”
Baudry becomes the 19th member of Grubb & Ellis’ National Data Centers Practice, which was formed in 2008 to serve the increasingly complex data center needs of its clients in markets throughout the country. The team’s members have highly technical backgrounds in a number of disciplines, including corporate real estate, brokerage, engineering, construction, project management and digital consulting.
Contact: Erin Mays, Phone: 312.698.6735, Email: firstname.lastname@example.org
Even so, the combined dollar volume for loan origination requests was slightly higher for the first month of this year, $373.9 million compared with $364.6 million in January 2009, Cambridge Chairman Jeffrey A. Davis (top right photo) reports.
Lenders close a relatively small percentage of loan requests received. But Davis believes it’s useful to track this information as an indication of market directions.
“While it’s too early to establish a trend line for 2010, analysis of a year-over-year 12-month trailing average for origination requests suggests there is room for improvement in the months ahead,” he says.
Davis says the trailing average for origination requests peaked in January 2007, when the company processed 417 loans totaling $4.76 billion for the 12-month period. This compares with 308 requests totaling $4.1 billion for a comparable period ending in January 2010.
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RANCHO PALOS VERDES, Calif., Feb. 26, 2010 –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for The Madison, (top left photo) a 90-unit, 118,874-square foot luxury apartment building in Rancho Palos Verdes.
The listing price of $24.5 million represents $272,222 per unit and $206 per square foot.
Ron Harris, a senior vice president investments and a senior director of the firm’s National Multi Housing Group in Los Angeles, is representing the seller, a Northern California- based investment group
Located in the hills above the Pacific Ocean at 6507 and 6510 Ocean Crest Drive in Rancho Palos Verdes, The Madison’s residents have an easy commute to downtown Los Angeles and Long Beach, the two largest employment centers in the Los Angeles metropolitan area.
The Madison’s unit mix features 19 one-bedroom/one-bath units and 71 two-bedroom/two-bath apartments. The average unit size is greater than 1,200 square feet and 56 percent of the apartments have ocean views. Select units have panoramic views of the sea and of Catalina Island.
The Madison has recently received more than $2.1 million in renovations, including unit upgrades and common area improvements.
“The Madison is not subject to any rent control restrictions,” adds Harris. “This is an excellent opportunity to further upgrade renovations to the standard of other trophy coastal assets in Hermosa Beach, Marina Del Rey and Santa Monica.”
Press Contact: Stacey Corso, Communications Department, (925) 953-1716