Activity, Multiple Offers, Lead to Deal
"Immediately after adding my listing to LoopNet, I started to get inquiries," said John Sweeney of Grubb & Ellis | West Shell Commercial in Cincinnati, referring to the property he sold with the help of LoopNet. The 24-unit apartment building generated over 1,500 property views from LoopNet members nationwide, thanks to the Sweeney's Premium Membership. "In all, I received 6 offers from LoopNet members. I advertised the property locally and on other websites, but LoopNet brought in the most leads by far! Most importantly, LoopNet connected me with an east coast buyer that I would not have found otherwise. Additionally, the reporting tools made it easy for me to show my clients the activity their listing was generating. LoopNet is the best possible marketing tool for commercial property!"

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Manhattan Multifamily Rents Remain Flat
Manhattan's multifamily property rents have remained essentially flat this year, but have significantly increased in some neighborhoods. According to the latest market report by the Real Estate Group, rents usually increase in the summer and inventory falls but there has been little change. The report also found that inventories are not being absorbed as quickly as in past years. Read Full Story

No Shortage of Industrial Space in Dallas Area
The North Texas area has some 40 million sf of vacant industrial space available, according to a study by local broker Jim Struble, who estimates that developers are working on adding some 17 million sf to the area. So far this year, 10 million sf of industrial leasing activity has taken place. Read Full Story

Investment Fund Offers $151.1M for Hotels
Columbia Pacific Opportunity Fund of Seattle, which owns 12.7% of Red Lion Hotels Corp., has offered to buy the remainder of the company in a deal valued at roughly $151.2 million. Red Lion owns, manages or franchises 53 mid-and upscale hotels with 9,266 rooms in the United States and Canada. Read Full Story

Care Investment Pays $100.8M for Properties
Care Investment Trust, Inc. has paid $100.8 million for 12 seniors-housing properties with 569 units in the Midwest. The portfolio includes assisted-living, independent-living and Alzheimer's facilities. Read Full Story