Colliers International Completes $2.1 Million Sale of a U.S. Post Office Property in Inglewood, CA

Los Angeles, CA, May 19, 2012 – Colliers International, the third largest global real estate services organization, has completed the $2.1 million sale of a 12,221-square-foot U.S. Post Office facility (top left photo) located at 811 N. La Brea in Inglewood, Calif.

 William Gloege (middle right photo) of Colliers International represented the seller, Arlington, MA-based IIse Perlman Trust. Julian Torkan of Madison Capital Group represented the buyer, Beverly Hills-based EFPAR Development, LLC.

The property had been identified on the possible closure list for the United States Postal Service. Due to the impending possible closure, the seller wanted to realize the best possible value for potential redevelopment or reuse before the expiration of the current lease.

In addition, the seller was able to realize the existing stream of income of the Government-backed lease.  This closed transaction accomplished the owner’s goal.

“Colliers was engaged to determine value the building on current income, future redevelopment, and re-lease potential. Once completed, it enabled us to create an attractive offering that would garner the highest price for the property,” said Gloege.

 “In the process of valuing the building and bringing it to market, I was able to generate multiple competing offers above the original asking price with short due diligence periods.  This transaction required a 30-day marketing period, 60-day escrow and a successful all cash closing.” 

 Gloege added that the new owner plans to rehab the building for a new retail use, maximizing the potential of the property.

Contact:  darcie@spauldingthompson.com

Colliers International Ranked 12th on the Top 100 Global Outsourcing Companies by International Association of Outsourcing Professionals

BOSTON, MA/PRNewswire/ -- Colliers International, the global real estate services firm, has been ranked 12th in The 2009 Global Outsourcing 100(TM) list, which recognizes the world's best outsourcing service providers and advisors.

The International Association of Outsourcing Professionals(TM) (IAOP(TM)) has named Colliers as a top commercial real estate service provider since the inception of the ranking, which is now in its fourth year.

Each year, IAOP and FORTUNE(R) magazine release their rankings of the Global Outsourcing 100, which include prominent companies from all corners of the business arena that provide a full spectrum of outsourcing services.

Colliers was named to this list for its deep experience and proven track record in real estate outsourcing, and was noted for its particular strength in terms of customer references. Selection to The Global Outsourcing 100 stems from a rigorous application process based on the critical factors for long-term outsourcing success, according to IAOP.

CONTACT: Kristin Sadlon of Porter Novelli for Colliers International,+1-212-601-8192, Kristin.sadlon@porternovelli.com

Web Site: http://www.colliers.com/

Colliers Int. Finds U.S. Office Market Falters in Q1, as Sluggish Leasing Activity and Rising Vacancies Create Uncertainty for the Rest of 2008

(27th floor condo for sale at 633 Third Ave., New York, NY)

BOSTON, April 17 /PRNewswire/ -- The United States office market kicked off 2008 on a lackluster note, with the Q1 vacancy rate increasing by 35 basis points to clock in at 12.77 percent, according to a report by Colliers International, a leading global real estate services firm.

(Photo at top right is Ross Moore, senior vice president and director of market and economic research at Colliers International.)

This marks the second consecutive quarter of increased vacancies on a national level, Colliers said. While CBD vacancies generally held steady, suburban vacancies leapt 54 basis points in Q1, to 13.80 percent.

Indeed, while 22 of the CBDs surveyed recorded a decrease in vacancy in the January through March period, 29 recorded a spike. As for the suburbs, 39 markets saw an increase in office vacancy while 14 witnessed a decline. (The 1.1 million-sf Leo Burnett office building in Chicago is at left)

Nationally, Class A vacancy rates increased from 11.28 percent to 11.76 percent, while B and C class vacancy rates jumped 25 basis points to 13.64 percent.

Absorption, or the change in occupied space, swung to the negative during the first quarter, measuring negative 3.0 million square feet (msf) -- a significant drop-off from the previous quarter's absorption of 9.8 msf. Further, Q1 absorption measured well below that of the year-ago period, when occupied space increased by 12.5 msf.

Alongside this negative first quarter absorption, another 17.8 msf was added to the office market, with an additional 119.4 msf under construction. While construction activity was expected to fall, office developments in the pipeline actually increased by 10.6 msf.

As for rents, downtown Class A lease rates increased 2.6 percent over the previous quarter, while the suburbs registered no change. From the year-ago quarter, downtown lease rates have increased 15.3 percent and suburban rents have increased 9.2 percent. Class A downtown rents now average $49.84 per square foot (psf) and $31.08 psf (unweighted). For suburban office space, the national average rent now comes in at $28.84 and $26.83 (unweighted).

For suburban office space, the national average rent now comes in at $28.84 and $26.83 (unweighted)."Despite the abundance of bad news experienced by the financial markets in the first quarter, the office real estate market now finds itself engaged in a battle of expectations," remarked Ross Moore, (top right photo) senior vice president and director of market and economic research at Colliers International.

(The Barrington Plaza office and apartment building in Los Angeles is at left)

"Tenants see a faltering economy and as a result expect lower rents, while landlords feel confident with occupancy rates still near historic highs, giving them the leverage to push rents higher."While we had marked down our Q1 projections, this quarter's office absorption numbers were considerably below the latest revisions. This suggests the first half of 2008 will be relatively quiet for the lion's share of U.S. cities," concluded Moore.

CONTACT:

Kristin Sadlon,

of Porter Novelli for Colliers International,

+1-212-601-8192,

Kristin.sadlon@porternovelli.com

First International-Style Shopping Mall in Montenegro to Open This Summer

PODGORICA, Montenegro, Mar. 7, 2008-- The first international-style shopping mall in Montenegro, Delta City in Podgorica, is set to open this summer.

Colliers International is the exclusive leasing agent, previously responsible for the resounding success of the leasing of Delta City in Belgrade, which featured a host of big international retailers. Delta City will have a GLA of 24,000 m². Located three kilometers from the center of Podgorica, its primary catchment area – the entire city of Podgorica – will be nearly 200,000 people.

Its secondary catchment area, the center and south of the country, raises that figure to nearly 450,000 people, or nearly two thirds of the country.The development will include a cineplex and a supermarket as anchor tenants, and there will also be entertainment facilities and a food court.
Delta Real Estate is the leading shopping mall developer in Serbia and the region. Currently, Delta Real Estate is undertaking work on another ground-breaking mall in Belgrade, Delta Planet, and has significant regional plans for expansion. Miodrag Gazibara, Key Accounts Manager at Colliers International Serbia, is responsible for bringing some of the big name international retailers to Montenegro.

He said, “We think that the people of Podgorica are going to be very excited by the quality of the retailers that we are bringing to town! This mall is going to transform shopping in Montenegro!” Jovica Jakovac, Managing Director of Colliers International Serbia, said, “We are extremely proud to have worked with Delta Real Estate on both Delta City in Podgorica and Delta City in Belgrade. We are both the clear market leaders in our fields, and together we are able to deliver a great product to the marketplace!”

Andreas Marambos, Managing Director, Colliers International Montenegro, concluded, “We are very proud to be bringing a landmark project like this to the people of Montenegro and we look forward to delivering more outstanding developments here.”

Colliers International Southeast Europe was named Property Consultant of the Year for the region in 2007 for the second straight year. It has nine offices in six countries: Albania, Bulgaria, Croatia, Greece, Montenegro and Serbia, and performs selected assignments in Slovenia, Bosnia & Herzegovina, FYR of Macedonia, and Cyprus.

Colliers International Southeast Europe currently has 2,500,000 m2 of projects under exclusive representation. It is bigger than all four of its nearest competitors put together, and has averaged growth of 69% in the last five years per annum. Colliers International is a global affiliation of independently owned and operated companies.

CONTACT: Colliers Kontakt-Person: Christen Thomson Director, PR Phone: E-mail: e-mail Web: http://www.pr-inside.com/cc~http://www.colliers.com__474448.htm

Author: Christen Thomsone-mail Web: http://www.pr-inside.com/cc~http://www.colliers.com/Markets/Croatia__474448.htm
Telefon: +385992187603