Saturday, April 14, 2012
BUENA PARK, CA -- Clyde Stauff (top right photo), senior executive vice president, and Chris Sheehan, senior vice president, of Colliers International represented RockTenn Corporation, one of North America's leading producers of corrugated and consumer packaging and recycling solutions, in a five-year lease transaction valued in excess of $3 million.
The 110,609 square foot industrial building is located at 5600 Knott Avenue (lower left photo) in Buena Park, Calif. RockTenn will distribute corrugated paper products from the location.
The landlord, Crown Associates Realty Inc., was represented by Scott Smith and Tim Cronin of Lee & Associates. RockTenn Corp. is relocating from Santa Fe Springs to the Buena Park site.
“The facility had recently been refurbished by Crown Associates Realty and was an ideal fit for RockTenn given the requirement for active rail service. The mid-counties industrial market continues to strengthen due to an increased user demand,” said Stauff.
Spaulding Thompson & Associates
She starts her new role on April 23 and will report to Russ Fong, Acting Chief Financial Officer for CalPERS.
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Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Bob Burton, Information Officer
Strategic Defaults to Plague Residential Real Estate Market Throughout 2012, According to FICO Survey
MINNEAPOLIS, MN /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of analytics and decision management technology, announced additional results from its latest quarterly survey of bank risk professionals, finding that a plurality of respondents (46 percent) expected the volume of strategic defaults in 2012 to surpass 2011 levels, as more than 25 percent of U.S. homeowners owe more on their mortgages than their homes are worth.
"After five years of a brutal housing market, many people now view their homes more objectively and with less sentimentality," said Dr. Andrew Jennings (top right photo), chief analytics officer at FICO and head of FICO Labs.
"Regardless of legal or ethical issues around strategic defaults, lenders must account for this risk when they evaluate mortgage applications in declining markets. Many homeowners who find themselves upside down on mortgages in the future are likely to consider strategic default as an acceptable exit strategy."
Concerns about strategic defaults were also reflected in response to a question about the consumer payment hierarchy. When asked if the current generation of homeowners considers their mortgage to be their most important credit obligation, 49 percent of bankers said no. By comparison, 29 percent said yes.
For a complete copy of FICO’s news release, please contact:
Media, Jeff Scott for FICO, +1-408-884-4017, email@example.com, or Investors/Analysts, Steven Weber, 1-800-213-5542, firstname.lastname@example.org