NNN Lease Market News
Dunkin’ Brands is Offering 22.3 Million Shares for $16 to $18 Each
Taken private in 2006 by Bain Capital LLC, Carlyle Group and Thomas H. Lee Partners LP, Dunkin’ follows private equity- backed companies such as HCA Holdings Inc. and Kinder Morgan Inc. in returning to the public market this year after leveraged buyouts. Private equity owners have completed the biggest U.S. IPOs in 2011 as a rising U.S. stock market increased investors’ demand for companies acquired through debt-fueled acquisitions.
“After the market has done so well, from a timing point of view it’s a good idea to get it done now,” Hugh Johnson, who oversees about $2 billion as chairman of Albany, New York-based Hugh Johnson Advisors LLC, said in an interview. “If I were in the private equity business, I’d be trying to raise liquidity as fast as I could.”
The doughnut chain has more than 16,000 locations in 57 countries under the Dunkin’ Donuts and Baskin-Robbins brands, according to the filing. Bill Rosenberg founded his first restaurant in the 1940s, which was later renamed Dunkin’ Donuts.
The stock will trade on the Nasdaq Stock Market under the ticker symbol DNKN.
Dunkin’s offering is being led by JPMorgan Chase & Co. (JPM), Barclays Plc, Morgan Stanley, Bank of America Corp. and Goldman Sachs Group Inc. (GS)
The company aims to complete the offering by the end of July, two people familiar with the plans said last month. The timing of the IPO is subject to change based on market conditions and demand for the shares.
http://www.bloomberg.com/
Tuesday, July 12, 2011
Monday, July 11, 2011
Retail Market is Expanding in Georgetown D.C.
NNN Lease Market
Most observers agree, though, that Georgetown's retail market is expanding
Coming debuts include clothier Brooks Brothers, which is opening a 20,000-square-foot store in September, men's store Jack Spade and Williams-Sonoma Inc.'s West Elm furniture division, soon testing the market with a store on a six-month lease.
"Ten years ago, Georgetown was a mom-and-pop market," said Michael Zacharia, a senior vice president in Washington for brokerage C.B. Richard Ellis Group Inc. "Now, we see national brands in the market and luxury brands looking to enter."
The evolution of Georgetown's retail market mirrors others, like Denver's Lower Downtown and Seattle's Capitol Hill, where populations are returning to downtowns for shorter work commutes and smaller homes in renovated buildings and towers. Retailers, in turn, are chasing the higher incomes and density that result from that trend. In some cases, that results in concerns national retailers are displacing local, independent shops that may make a given urban neighborhood unique.
Some brokers and property owners, including Mr. Lanier, say chains are taking a larger share of the market. However, Jim Bracco, executive director of the Georgetown Business Improvement District, said independent stores still account for three-quarters of the neighborhood's retail market.
http://asia.wsj.com/home-page
Most observers agree, though, that Georgetown's retail market is expanding
Coming debuts include clothier Brooks Brothers, which is opening a 20,000-square-foot store in September, men's store Jack Spade and Williams-Sonoma Inc.'s West Elm furniture division, soon testing the market with a store on a six-month lease.
"Ten years ago, Georgetown was a mom-and-pop market," said Michael Zacharia, a senior vice president in Washington for brokerage C.B. Richard Ellis Group Inc. "Now, we see national brands in the market and luxury brands looking to enter."
The evolution of Georgetown's retail market mirrors others, like Denver's Lower Downtown and Seattle's Capitol Hill, where populations are returning to downtowns for shorter work commutes and smaller homes in renovated buildings and towers. Retailers, in turn, are chasing the higher incomes and density that result from that trend. In some cases, that results in concerns national retailers are displacing local, independent shops that may make a given urban neighborhood unique.
Some brokers and property owners, including Mr. Lanier, say chains are taking a larger share of the market. However, Jim Bracco, executive director of the Georgetown Business Improvement District, said independent stores still account for three-quarters of the neighborhood's retail market.
http://asia.wsj.com/home-page
Friday, July 8, 2011
Retailers Posting Results that Beat Expectations
85 % of Retailers Posting Results that Beat Expectations
Monthly retail sales at stores open at least a year rose 7.2 per cent from last June, with 85 per cent of retailers posting results that beat expectations, according to Retail Metrics.
In the mid-market segment – which has been hit hardest by consumers’ cash woes – Gap posted a 1 per cent gain in sales that defied forecasts of another monthly decline as it struggles to revitalise its business.
Revenue at its Banana Republic chain, which offered heavy discounts last month, rose 3 per cent.
Among mid-market department stores sales rose 6.7 per cent at Macy’s, 2 per cent at JC Penney and 6 per cent at Dillards.
Limited, which runs the Victoria's Secret chain, posted a 12 per cent rise in same-store sales.
http://www.ft.com/intl/cms
Vacancy Rate at Malls Increased to 9.3%.
NNN Lease Market News
Vacancy Rate at Malls in the top U.S. Markets Increased to 9.3%.
The average vacancy rate at malls in the top 80 U.S. markets increased to 9.3% in the second quarter from 9.1% in the first, according to real-estate research company Reis Inc. Those vacancy figures are the highest Reis had recorded for malls since it started tracking malls in 2000.
Meanwhile, average lease rates at U.S. malls remained steady at $38.77 per square foot per year, unchanged from the first-quarter rate, according to Reis.
Clearly, retailers want to be in the best and strongest locations," said Michael Glimcher, chairman and chief executive of Glimcher Realty Trust, owner of 23 U.S. malls. "If you're in a big market, you better be one of the top malls [there]." Mr. Glimcher said he foresees his malls reaching an average of 95% occupancy later this year from 94.1% in the first quarter and 92.6% a year earlier. In the second quarter, Glimcher signed shoe seller DSW Inc. to replace bankrupt bookseller Borders Group Inc. at its Dayton Mall in Dayton, Ohio.
Reis calculates its averages for vacancy and lease rates by sampling 40% of the retail properties each quarter in the top 80 U.S. markets.
Corrections & Amplifications: Malls in the top 80 U.S. markets in the first quarter posted an average lease rate of $38.77 and strip-mall centers registered an average of $16.54. An earlier version of this article incorrectly reported the figures as $16.54 for malls and $38.77 for strip centers.
http://online.wsj.com/article/
Vacancy Rate at Malls in the top U.S. Markets Increased to 9.3%.
The average vacancy rate at malls in the top 80 U.S. markets increased to 9.3% in the second quarter from 9.1% in the first, according to real-estate research company Reis Inc. Those vacancy figures are the highest Reis had recorded for malls since it started tracking malls in 2000.
Meanwhile, average lease rates at U.S. malls remained steady at $38.77 per square foot per year, unchanged from the first-quarter rate, according to Reis.
Clearly, retailers want to be in the best and strongest locations," said Michael Glimcher, chairman and chief executive of Glimcher Realty Trust, owner of 23 U.S. malls. "If you're in a big market, you better be one of the top malls [there]." Mr. Glimcher said he foresees his malls reaching an average of 95% occupancy later this year from 94.1% in the first quarter and 92.6% a year earlier. In the second quarter, Glimcher signed shoe seller DSW Inc. to replace bankrupt bookseller Borders Group Inc. at its Dayton Mall in Dayton, Ohio.
Reis calculates its averages for vacancy and lease rates by sampling 40% of the retail properties each quarter in the top 80 U.S. markets.
Corrections & Amplifications: Malls in the top 80 U.S. markets in the first quarter posted an average lease rate of $38.77 and strip-mall centers registered an average of $16.54. An earlier version of this article incorrectly reported the figures as $16.54 for malls and $38.77 for strip centers.
http://online.wsj.com/article/
Wednesday, June 29, 2011
Westfield Plans $1.6 Billion Development
NNN Lease Market News
Westfield Group (WDC) plans to start a 1 billion pound ($1.6 billion) redevelopment at a site it owns in London’s White City area adjacent to its shopping center, as it boosts its pipeline for projects amid a recovery in sales.
The company is now seeking public feedback on plans for the redevelopment, which will include 1,700 homes and about 48,000 square meters (516,668 square feet) of retail space, the world’s biggest shopping center operator by market value said in an e- mailed release.
Westfield Group (WDC) plans to start a 1 billion pound ($1.6 billion) redevelopment at a site it owns in London’s White City area adjacent to its shopping center, as it boosts its pipeline for projects amid a recovery in sales.
The company is now seeking public feedback on plans for the redevelopment, which will include 1,700 homes and about 48,000 square meters (516,668 square feet) of retail space, the world’s biggest shopping center operator by market value said in an e- mailed release.
Tuesday, June 28, 2011
The NNN Lease Lucrative Investor
NNN Lease Market
Calkain NNN Lease Expert and receive the answer to your question directly to your inbox! No need to search all over the internet for you answers, leave it to the experts.
Calkain NNN Lease Expert and receive the answer to your question directly to your inbox! No need to search all over the internet for you answers, leave it to the experts.
NNN leases are also unique in their duration. Unlike a typical residential lease that lasts only 6 to 12 months, a NNN lease lasts typically 15 to 30 years. This is a huge advantage for property owners who want consistency in the monthly payments and the security of not having to worry about the constant struggle of placing tenants. NNN leases also take into consideration inflation and typically include rent increase clauses through the life of the lease term.
Typical tenants for NNN leases are Walgreens, CVS, Social Security Administration, Arbys, Pizza Hut, 7eleven, Wells Fargo and many more. These well recognized companies are willing to participate in NNN leases, because owning all of their business locations is not advantageous to their business model or growth.Many investors are looking for a safe place to put their money with the wild fluctuations in the financial market. Stable, predictable investment vehicles are increasingly hard to find, but smart investors do have choices. One of the better choices is to invest in NNN lease, which many investors also call a corporate bond combined with real estate investments that still make sense today.
Owning a NNN lease property offers a long term lease with a corporately rated tenant, opposed to an individual tenant in residential real estate. The major benefit of a NNN lease is the consistent monthly return without the hassles of being a landlord.Thursday, June 23, 2011
Office Lease Market Trends Report
NNN Lease Office Market News
Calkain Research provides in-depth analysis of the market. Our intimate knowledge and years of experience in the market have given us the unique opportunity to provide thoughtful leadership and perspective.
San Diego Ofiice Market
Boosted by a relatively low increase in vacancies, San Diego County’s office market improved from 17th to 11th place. “San Diego leads the group of markets ranked just outside of the top 10 with above-average marks for several indicators, including its change in vacancy, concessions and new supply.
Orlando Office Market.
The submarket, which had a 20.1 percent vacancy rate in fourth-quarter 2009, improved to 17.4 percent in 2010’s fourth quarter, said a new report from Morrison Commercial Real Estate.
That compared with a fourth-quarter 2010 vacancy rate of 19.2 percent in the Orlando market as a whole, which was worse than fourth-quarter 2009’s 18.7 percent.
Chicago Office Market
Total vacancy in the Chicago area improved slightly in the first quarter of 2011, with the downtown office market recording 575,085 square feet of positive absorption and the suburban market 417,590 square feet of positive absorption, for vacancy rates of 16.14 percent and 22.63 percent respectively.
Four leases in the downtown market eclipsed 100,000 square feet, with KPMG LLP recording the largest new lease for 260,000 square feet at the AON Center. The largest new lease in the suburban market was CVS Caremark’s 119,245-square-foot lease at 2100 E. Lake Cook Road in Buffalo Grove.
Despite the increased leasing activity, overall asking rental rates continued to tick down. Class A space in the downtown market was $31.90, down slightly from the previous quarter, while Class B rates held steady at $26.44 and Class C was down to $21.79.
NJ Office Market
Office markets have been mixed but generally steady across the District in the first quarter of 2011. The office vacancy rate rose moderately in Manhattan and Long Island (where it reached a multi-year high), but was little changed in Northern NJ. However, asking rents in all these areas moved up, and landlords reportedly scaled back on concessions. In Westchester and Fairfield counties however, office markets showed further signs of softening, as vacancy rates rose and asking rents continued to decline modestly.
NYC Office Market
The Manhattan office market is flexinits muscles and is beginning to show signs of strength and improvement. SL Green Realty Corp., the City’s largest office landlord, just reported its fourth quarter earnings. A Crain’s New York Business article reported the company’s funds from operations increased to $74.7 million or 93 cents a share, up from $69.1 million or 87 cents a share from the year prior.
Washington Office Market
Unlike other parts of the country, the Washington office market is also fueled by a growing job market. The region has the lowest unemployment rate, 6.2 percent in August, among major metropolitan areas in the country.
Metropolitan Washington has added a net of 20,000 public and private sector jobs during the past year, according to the government. Growing payrolls often prompt employers to look for more space.
Still, some experts say several looming factors could put the brakes on the sector's recovery in the region.
The best office market remained Washington, D.C., and Detroit remained the worst.
Calkain Research provides in-depth analysis of the market. Our intimate knowledge and years of experience in the market have given us the unique opportunity to provide thoughtful leadership and perspective.
San Diego Ofiice Market
Boosted by a relatively low increase in vacancies, San Diego County’s office market improved from 17th to 11th place. “San Diego leads the group of markets ranked just outside of the top 10 with above-average marks for several indicators, including its change in vacancy, concessions and new supply.
Orlando Office Market.
The submarket, which had a 20.1 percent vacancy rate in fourth-quarter 2009, improved to 17.4 percent in 2010’s fourth quarter, said a new report from Morrison Commercial Real Estate.
That compared with a fourth-quarter 2010 vacancy rate of 19.2 percent in the Orlando market as a whole, which was worse than fourth-quarter 2009’s 18.7 percent.
Chicago Office Market
Total vacancy in the Chicago area improved slightly in the first quarter of 2011, with the downtown office market recording 575,085 square feet of positive absorption and the suburban market 417,590 square feet of positive absorption, for vacancy rates of 16.14 percent and 22.63 percent respectively.
Four leases in the downtown market eclipsed 100,000 square feet, with KPMG LLP recording the largest new lease for 260,000 square feet at the AON Center. The largest new lease in the suburban market was CVS Caremark’s 119,245-square-foot lease at 2100 E. Lake Cook Road in Buffalo Grove.
Despite the increased leasing activity, overall asking rental rates continued to tick down. Class A space in the downtown market was $31.90, down slightly from the previous quarter, while Class B rates held steady at $26.44 and Class C was down to $21.79.
NJ Office Market
Office markets have been mixed but generally steady across the District in the first quarter of 2011. The office vacancy rate rose moderately in Manhattan and Long Island (where it reached a multi-year high), but was little changed in Northern NJ. However, asking rents in all these areas moved up, and landlords reportedly scaled back on concessions. In Westchester and Fairfield counties however, office markets showed further signs of softening, as vacancy rates rose and asking rents continued to decline modestly.
NYC Office Market
The Manhattan office market is flexinits muscles and is beginning to show signs of strength and improvement. SL Green Realty Corp., the City’s largest office landlord, just reported its fourth quarter earnings. A Crain’s New York Business article reported the company’s funds from operations increased to $74.7 million or 93 cents a share, up from $69.1 million or 87 cents a share from the year prior.
Washington Office Market
Unlike other parts of the country, the Washington office market is also fueled by a growing job market. The region has the lowest unemployment rate, 6.2 percent in August, among major metropolitan areas in the country.
Metropolitan Washington has added a net of 20,000 public and private sector jobs during the past year, according to the government. Growing payrolls often prompt employers to look for more space.
Still, some experts say several looming factors could put the brakes on the sector's recovery in the region.
The best office market remained Washington, D.C., and Detroit remained the worst.
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