Exposure Keeps Broker Busy Closing Deals
Jeff Lester of Wiggin Properties, LLC in Okalahoma City, OK has closed eight deals worth more than $11 million dollars in the first half of 2008 with the help of his LoopNet Premium Membership. Lester, a CCIM member, and a LoopNet Premium Member for the last three years, specializes in self-storage properties both in Oklahoma and nationwide. In his most recent deal, Lester's 80,000 sf self-storage facility received over 4,500 property views on LoopNet. Lester sold the facility, in a deal worth more than $2 million to an investor sourced through LoopNet. "The sale of these properties is directly tied to LoopNet," said Lester. "The exposure we receive through LoopNet is fantastic. Thanks LoopNet!"

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Commercial Property Prices Drop in May
Commercial property prices declined 3.5% in May, their largest monthly drop since credit markets went into turmoil about a year ago. Read Full Story

Pittsburgh-Area Office Fundamentals Improve
Pittsburgh-area office fundamentals improved slightly in Q2, according to Grubb & Ellis. Grubb's data found that the regional vacancy rate dropped 20 basis points to 15.6%, including downtown's 10 bp drop to 18%. Read Full Story

Suburban Atlanta's Vacancy Rate Up in Q2
Suburban Atlanta's office vacancy rate rose in Q2, to 15.1% from 14.3%, according to Colliers International. The vacancy rate for downtown dipped slightly to 13.8% from 13.2% in Q1. Read Full Story

Charlotte Market Records Low Vacancy Rate
Uptown Charlotte, NC's office market had the lowest vacancy rate among 51 of the nation's central business districts, according to Colliers International. The 1.9% vacancy rate in Q2 is down a bit from the 2% recorded in Q1. Read Full Story

Downtown Boston Office Absorption Slows
Office space absorption has slowed considerably in downtown Boston. Cresa Partners reported that downtown office absorption dropped to 50,000 sf in Q2, from hundreds of thousands of square feet in the most recent past quarters. Read Full Story

Chicago Office Building Sales Slow in First Half
What a difference a year makes, especially in the Chicago office investment-sales market. By mid-year last year, $9.4 billion of properties had changed hands, but the credit crunch put the brakes on investment activity. Read Full Story

Manhattan Office Tower Sells for $160M
Transwestern Investment Co. is under contract to buy a 171,571 sf office tower in Manhattan for about $160 million from a lending consortium led by Deutsche Bank. Read Full Story