Expanding Technology Sector Fuels Demand for Office Space in San Jose

SAN JOSE, CA— After several years of restrained office construction, builders in the San Jose metro area are stepping up deliveries in response to a strengthening local economy and a resurgent technology sector, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

High-tech employers, including Cisco, Qualcomm and Broadcom, have continued to expand their work forces in the metro, generating tenant demand for additional space.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. San Jose moves up 11 places this year to No. 13.

“Healthy revenue gains in the local office market will continue to command investors’ attention in 2008,” says Steven J. Seligman, regional manager of Marcus & Millichap’s Palo Alto office.

Following are some of the most significant aspects of the San Jose Office Research Report:

· Employment growth is forecast to reach 0.7 percent, or 6,600 jobs, this year.
· Office completions are expected to reach 1.3 million square feet.
· Vacancy is projected to finish the year at 13.5 percent.
· Asking rents are expected to increase 5.4 percent to $32.72 per square foot, while effective rents gain 5.7 percent to $29.02 per square foot.
· Investors may want to take note of incentives offered by the local government to attract employers to downtown San Jose.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit http://www.marcusmillichap.com/.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Low Business Costs Attract Corporations to San Antonio's Expanding Office Market

SAN ANTONIO, TX — San Antonio (downtown photo above) is transitioning from an often-overlooked secondary office market to a diversified metro with an increasing number of traditional back-office positions and major corporate operations, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

San Antonio’s low business costs will support additional major corporate relocations to the area in the future, followed by support companies.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. San Antonio moves up three places this year to No. 22.

“The investor pool in San Antonio is expected to become more diversified this year,” says Bradley H. Bailey, regional manager of Marcus & Millichap’s San Antonio office. “REITs will up their stakes in the metro, as will out-of-state investors looking for above-average yields in a stable growth market.”

Following are some of the most significant aspects of the San Antonio Office Research Report:

· Employers will create 19,400 new jobs in 2008, a 2.3 percent increase.
· Construction will remain relatively steady this year, with 970,000 square feet forecast to come online, a 3.7 percent increase to stock.
· Demand will outpace supply again this year, causing the metrowide vacancy rate to shed 30 basis points to finish 2008 at 13.7 percent.
· Asking rents are forecast to rise 3.7 percent to $19.57 per square foot, while effective rents advance 4.1 percent to $16.48 per square foot.
· Opportunities can be found northwest of the city center near the rapidly expanding Loop 1604, where demand is currently being generated by companies seeking to relocate closer to residential developments.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5. (photo of The Alamo landmark at right)

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit http://www.marcusmillichap.com/.

Press Contact:

Stacey Corso
Communications Department
(925) 953-1716

San Francisco Office Sector Rises to One of Top-Performing Markets Nationwide

SAN FRANCISCO, CA — The San Francisco office market is enjoying a strong resurgence that is expected to continue through 2008, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Tenant demand for office space is being driven by the expanding information sector, which is forecast to add another 800 jobs this year.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. San Francisco moves up 12 places this year to No. 4.

“Buyers may find properties with upside potential in the South of Market Area and Union Square submarkets,” says Jeffrey Mishkin, (photo at right) regional manager of Marcus & Millichap’s San Francisco office. “Rents have risen rapidly in surrounding submarkets, including the Financial District and South Beach, and some tenants who are priced out of properties in these areas may move to less expensive regions nearby.”

Following are some of the most significant aspects of the San Francisco Office Research Report:

· Employers are expected to add 10,200 jobs this year, a 1 percent increase.
· Builders are forecast to deliver 1.4 million square feet or new office space this year.
· Vacancy is projected to end the year at 9.6 percent.
· Asking rents are forecast to increase 5.8 percent to $42.46 per square foot, while effective rents advance 5.9 percent to $36.52 per square foot.
· With heightened demand for top-tier space in San Francisco, investors may find success upgrading existing properties, as rents continue to rise faster than the national average and elevated land and development costs minimize the threat from overbuilding.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit http://www.marcusmillichap.com/.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Demand Strengthens for Suburban Office Assets in Salt Lake City

SALT LAKE CITY, UT— Salt Lake City’s office market is expected to remain strong, underpinned by an increasingly tight downtown market that is forcing some demand into suburban areas, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

The metro’s educated work force and affordability continue to attract businesses, and 2008 will mark another year of above-average employment growth.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. Salt Lake City moves up 10 places this year to No. 20.

“The Salt Lake City office investment market is expected to remain active throughout 2008, as the metro’s healthy economic growth continues to attract buyers,” says Adam P. Christofferson, (photo at right) regional manager of Marcus & Millichap’s Salt Lake City.

Following are some of the most significant aspects of the Salt Lake City Office Research Report:

· Employers are expected to add 17,000 positions in 2008, an increase of 2.6 percent.
· Nearly 750,000 square feet of space will come online in the market in 2008.
· Vacancy is projected to end the year at 12.5 percent.
· Asking rents are expected to advance 4.5 percent to $19.03 per square foot, while effective rents will rise 4.8 percent to $15.72 per square foot.
· Investors may want to consider properties in Salt Lake City’s CBD.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit www.MarcusMillichap.com.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Rome Cavalieri to Join the Prestigious Waldorf=Astoria Collection®

After Four Decades as Italy’s Leading Hotel, Rome Cavalieri (photo above) Becomes the First Hotel in Europe and the Sixth Globally to Join the Luxury Brand of Hilton Hotels Corporation

ROME--Hilton Hotels Corporation has announced that the Rome Cavalieri Hilton, the preferred hotel for global travellers to the Eternal City and the hub for Rome’s society set, will become the first European property to join The Waldorf=Astoria Collection.

“For 45 years, the Rome Cavalieri hotel has been an intrinsic part of Rome’s social fabric and has astonished world travellers with its gracious hospitality, museum-standard collection of art and its grand hilltop setting offering unrivalled views over the Eternal City. This is a magnificent hotel and a pivotal addition to The Waldorf=Astoria Collection,” said Mr. Wolfgang M. Neumann, President for Hilton Hotels Europe.

Welcoming this, the sixth hotel in The Waldorf=Astoria Collection, Ian Carter, (photo at right) President of Global Operations, Hilton Hotels Corporation, said, “Selection for The Waldorf=Astoria Collection is exclusive and only landmark hotels with a reputation for superior service, original architecture or artistic and historical significance receive such designation. Rome Cavalieri meets our parameters and sets a very high reference point for the brand in Europe. The Rome Cavalieri is the perfect first hotel for The Waldorf=Astoria Collection in Europe, and we are excited to welcome it to our growing Collection.”

The Waldorf=Astoria Collection currently has four properties in the United States, comprising the inspiration for the brand, the legendary Waldorf=Astoria® in New York, Arizona Biltmore Resort & Spa in Phoenix, Arizona, Grand Wailea Resort Hotel & Spa in Maui, Hawaii, and La Quinta Resort & Club in Southern California. Only one other property has been designated internationally, the 46-suite Qasr al Sharq or “Palace of the Orient” which opened in Jeddah on June 1, 2006 and joined the collection in December, 2006.

Marcus & Millichap Lists 43-Room Hotel in Miami Beach, FL for $12.5M

MIAMI BEACH, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Leslie Hotel, (above photo) a 43-room hotel in Miami Beach.

The listing price of $12.5 million represents $290,698 per room. Mark Wohl, a senior associate and associate director of Marcus & Millichap’s National Hospitality Group in Miami, Jason Goldfarb, an associate in the firm’s Miami office, and Lawrence Usher, investment specialist also in the firm’s Miami office, are representing the seller.

“Leslie Hotel is an excellent value-add opportunity located on an infamous street in one of the most desirable cities in the world,” says Wohl.

Located at 1244 Ocean Drive, the hotel is situated on a 7,150-square foot lot, less than 15 minutes from the Miami International Airport and 30 minutes from the Fort Lauderdale International Airport. Originally built in the South Beach Art Deco spirit of the 1930s, the hotel has undergone recent renovations.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Holliday Fenoglio Fowler's Recently Closed Transactions

PITTSBURGH, PA--Here are Holliday Fenoglio Fowler LP's transactions closed in the last 90 days.


HFF operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated and national capital markets platform, including debt placement, investment sales, structured financed, private equity, note sales and note sale advisory services and commercial loan servicing.


For additional, information, please visit http://www.hfflp.com/.




SOURCE OF PHOTOS:

Holliday Fenoglio Fowler LP
One Oxford Centre
301 Grant St., Suite 600,
Pittsburgh, PA 15219

Register For MBA's Reverse Mortgage Lending Conference

WASHINGTON, DC--The Mortgage Bankers Association (MBA) presents its 2008 Reverse Mortgage Lending Conference.

As an evolving loan product, reverse mortgages are offering baby boomers another option as part of their overall retirement and wealth management plan.

MBA's inaugural Reverse Mortgage Lending Conference provides a unique forum for real estate finance professionals to participate in advanced discussions about originator and equity investor interests in reverse mortgages.

The program also provides up-to-date information about new technologies being developed to help reverse mortgage lenders operate more efficiently. Members of the media are encouraged to attend panel sessions and roundtable discussions to gather the most up-to-date information on reverse mortgage real estate trends.

Special keynote speakers/panelists include:

· Rob E. Story, Jr., (photo at right) CMB, Vice Chairman of the Mortgage Bankers Association and President of Seattle Financial Group
· The Hon. Brian D. Montgomery, (photo top left) Assistant Secretary for Housing, Federal Housing Authority Commissioner, U.S. Department of Housing and Urban Development (HUD)
· Jeffrey S. Taylor, CMB, Vice President of Senior Products, Wells Fargo Home Mortgage
· Margaret Burns, Director of Office of Single Family Program Development, U.S. Department of Housing and Urban Development
· Justin Burch, Senior Marketing Analyst, Ginnie Mae
· Elaine Eaton, First Vice President of Operations, Financial Freedom Senior Funding Corporation
· Jay H. Meadows, Chief Executive Officer & President, Rapid Reporting Verification Company
· John Lunde, President, Reverse Market Insight, Inc.
· Patrick Fitzsimonds, Director of Reverse Mortgage Banking, UBS
· Harry A. Gardner (photo at right) Vice President of Industry Technology, Mortgage Bankers Association

Session topics include the latest developments in:

· Reverse Mortgages 101
· Improvements to the Reverse Mortgage Products by HUD, Fannie Mae and Ginnie Mae
· Counseling Update and Options for Consumers
· Mortgage Fraud: Common Schemes and How To Detect Them
· Education: The Key to a Successful Reverse Mortgage
· Reverse Mortgage Servicing
· Legislative and Regulatory Roundup
· Current Origination Issues for Reverse Mortgages in Securitizations

WHEN: April 10 - 11, 2008

WHERE: The Westin Horton Plaza
San Diego, CA

CONTACT: Press credentials must be approved in advance. To apply for press credentials, please contact:

Jason Vasquez
(202)557-2950jvasquez@mortgagebankers.org

For more information, please visit MBA's Reverse Mortgage Conference Web site at: http://events.mortgagebankers.org/rml2008/default.html.

Media Podcast: MBA Comments on Shifting Landscape of Tax Credit and Multifamily Markets

WASHINGTON, DC - - The Mortgage Bankers Association's (MBA) Senior Vice President of Multifamily and Governance, Cheryl Malloy (photo at right) examines the recent removal of GSE portfolio growth caps by OFHEO and provides assessment of the current issues facing tax credit programs.

Malloy also comments on the spillover from the single family residential market into the multifamily market, sheds light on the importance of GSE reform and pending legislation that could enhance the tax credit market.

The Podcast recording can be accessed by clicking HERE.

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 370,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's Web site: http://www.mbaa.org/.

CONTACT:

Jason Vasquez
(202) 557-2950
jvasquez@mortgagebankers.org

Marcus & Millichap Lists 96.65 Acres in Port Arthur, TX

(Photo above of Delta Queen moored in front of Port Arthur City Hall)

PORT ARTHUR, TX-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for 96.65 acres of land in Port Arthur.

Sheri Carey and Jeffrey Fript, both investment specialists in the Houston office of Marcus & Millichap, are representing the seller, a Houston-based limited partnership.

“Port Arthur is experiencing rapid growth due to the expanding oil and gas industry, which dominates the local economy. An investor will have multiple options to capitalize on this growth since this property is ideally suited for a mixed-use development of retail and housing,” says Fript.

Located on Highway 69 between 60th and 67th streets, the property is comprised of four parcels, just one mile away from the primary retail intersection in Port Arthur, including the Central Mall. The property is adjacent to the new Port Arthur High School site and in close proximity to the newly opened Medical Center of Southeast Texas. (Photo at left is Port Arthur dock)

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Marcus & Millichap Sells Multi-Tenant Office Building in Des Plaines, ILL for $11.6M

DES PLAINES, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale a 145,482-square foot, multi-tenant office building in Des Plaines. The sales price is $11.6 million.

Howard Wiese, (photo at right) senior vice president of investments and senior director of Marcus & Millichap’s National Office and Industrial Properties Group, and Frank Roti, an investment specialist also in the firm’s Chicago office, represented the seller, 999 East Touhy LLC, an entity controlled by the principals of Marc Realty. Marcus & Millichap also represented the buyer, Siete 7 LLC.

“This new owner of this investment-grade, five-story office building can achieve rent increases by repositioning the asset,” says Wiese. “The buyer will initially occupy approximately 30,000 square feet in the building, and has plans to expand its space over time.”

Located at 999 East Touhy Ave., the office asset is situated on a 5.97-acre lot with frontage on the Northwest Tollway (Interstate 90) as well as easy access to the Tri-State Tollway (I-294). The property is located just north of the O’Hare International Airport in Chicago and features excellent visibility from I-90 along with signage for a major tenant to utilize.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

CB Richard Ellis Sells 46+ Acres Within International Corporate Park

ORLANDO, FL-- CB Richard Ellis, the world's leading commercial real estate services provider, is pleased to announce the sale of a 46+ acre tract of land within International Corporate Park (ICP), located in East Orlando and in close proximity to the new 'Medical City' featuring the Burnham Institute, (bottom right photo) UCF Medical School, (bottom left photo) VA Hospital & Nemours Children's Hospital.

International Corporate Park encompasses over 2,900 acres of fully permitted sites and 20 million square feet approved for a mixture of uses including manufacturing, light industrial, biotech, and office. David Murphy, CCIM, SIOR, MIA (top right photo) Senior Vice President and Erik W. Schwetje, CCIM (top left photo) Vice President, represented the Seller, ICP Land Partners, LLC.


About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices).

CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

Please visit our Web site at http://www.cbre.com/.

Contact:

David Murphy, CCIM, SIOR, MIA
407.404.5020
david.murphy@cbre.com

Jessica Wilhoite
407.839.3158
jessica.wilhoite@cbre.com

Erik Schwetje, CCIM
407.404.5011
erik.schwetje@cbre.com

Marcus & Millichap Facilitates Sale of Pompano Beach Warehouse

POMPANO BEACH, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of a 16,052-square foot industrial warehouse, according to Gene A. (photo at right) Berman, Managing Director of the firm’s Fort Lauderdale office.

The six-bay warehouse, located in the heavily industrialized corridor of Dixie Highway, demanded a sales price of $1,095,000. Ryan D. Nee, (photo at right below) an investment specialist in Marcus & Millichap’s Fort Lauderdale office represented the seller of the property, George and Eva Planakis. Nee and Roland Hodges (photo at left) of Roland Hodges & Sons in Fort Lauderdale, FL represented the buyer, 1080 South Dixie, Inc.

“Continued population growth and the limited supply of industrial zoned land in Broward County will provide upward pressure on rents. The investor will realize a substantial return from raising the rents to market value,” says Nee. The property is located at 1080 S Dixie Highway in Pompano Beach, Fla. (Pompano Beach skyline photo above)

CONTACT:

Ashley Steele

Marketing Coordinator

Marcus & Millichap

5900 N. Andrews Avenue, Suite

100Fort Lauderdale, FL 33309

Direct Tel: (954) 245-3516

Cell: (215) 828-9585

Fax: (954) 245-3410