Yolo County will receive a $139,724 grant to implement sustainable growth practices outlined in its recently adopted general plan, creating “compact, accessible neighborhoods” that integrate jobs, shopping and a variety of residential areas. The grant was approved by the California Strategic Growth Council, created in 2008 by Senate Bill 732. The cabinet-level committee coordinates state ... [Continue Reading]
by Michael Shaw The state of California is standing pat with its real estate consultants. The Department of General Services announced it intends to award contracts for commercial real estate services to Cornish & Carey Commercial for the Sacramento region and two contracts to CB Richard Ellis, one for Southern California and the other for ... [Continue Reading]
by Beth Mattson-Teig Office sales are expected to gain momentum in the coming year as investors move further afield to acquire quality properties in an increasingly competitive arena. Investors made one point crystal clear in 2010. They have a voracious appetite for low-risk office properties in top markets, and they’re willing to pay a premium ... [Continue Reading]
by David Bodamer Investors searching for distressed big-box deals are facing competition from an unlikely source — retailers. Large tenants including Wal-Mart, Target, Kohls Department Stores and others have become aggressive bidders in the market for vacant big boxes. The retailers are buying distressed space from owners or banks, often at prices that are 20 ... [Continue Reading]
by Melanie Turner The California Energy Commission on Wednesday approved almost $2 million for the University of California Davis to develop ways to increase the energy efficiency of light commercial buildings. The research represents a promising opportunity for helping the state reach its ambitious greenhouse gas and energy efficiency targets. The goal of the ... [Continue Reading]
by Michael Shaw Opponents of a planned $2.3 billion sale of state office buildings won a temporary victory Monday when a state appellate court halted the deal for the 11 state-owned properties after an appeal was filed earlier in the day. The sale had been scheduled to be completed Wednesday. The Sixth District Court of ... [Continue Reading]
New postings of commercial real estate positions on key job boards in 2010 have been led by property management and accounting/control positions, according to the CCIM Institute’s Career Center Job Barometer. Both industry specializations each accounted for 22% of job postings in the period of January – September 2010. California accounted for 16% of all ... [Continue Reading]
by Carla Hill After an unexpected rise the week prior in the unemployment rate to 9.8 percent, some economists were surprised when the Labor Department reported last week that new jobless claims fell by 17,000. According to the New York Times, “job creation is expected to receive a lift from a compromise deal struck by ... [Continue Reading]
This week, the Treasury Department released new guidance and forms for claiming 2010 tax credits to help small businesses provide health coverage for their employees. The new guidance and forms are available by clicking here. The guidance clarifies the types of employers and contribution arrangements that will qualify for tax credits as well as methods ... [Continue Reading]
by Jed Smith Commercial real estate in the U.S. encompasses a wide diversity of building types and sizes. Recent problems with declining commercial space, sales and prices, stagnant and declining rents, troubled assets, and financing illiquidity began with the onset of the Great Recession. The market performance of the sector tends to lag the ... [Continue Reading]
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