Parkway’s 2011 numbers down 23.7 percent - Mon, 06 Feb 2012
Parkway Properties Inc. ended 2011 with lower numbers as it works to exit the Memphis office market. The Orlando, Fla.-based real estate investment trust reported full-year funds from operations of $47 million, or $2.17 per diluted share for 2011, down 23.7 percent compared to $61.6 million, or $2.86 per diluted share, in 2010. The company also reported funds from operations of $15.8 million, or $0.72 per diluted share, for fourth quarter 2011, up 13.6 compared to $13.9 million, or $0.65 per diluted share, in fourth quarter 2010...

Traffic, sales rise at Woodburn Company Stores - Mon, 06 Feb 2012
A spike in bus traffic fueled a record year for Woodburn Company Stores, one of Oregon’s more popular tourist destinations. The outlet mall in Woodburn said 2011 brought a record 4.4 million shoppers. Sales increased six percent over 2010. The outlet center attributed its success to increased traffic from motor coaches, noting 720 buses ferried nearly 23,000 visitors to Woodburn, including many from Canada. Woodburn Company Stores has nearly 100 outlets and is owned and operated by Craig Realty Group...

More on Capital One branch closings - Mon, 06 Feb 2012
It seems there's a little less in Capital One Financial Corp.'s wallet than was previously reported. This morning, I wrote that Capital One was planning to close two suburban Maryland bank branches in addition to the one at 2400 M St. NW in D.C. that the Washington Business Journal reported back in January. A spokeswoman for Capital One responded to my inquiry earlier this afternoon to put the closing into more perspective. Capital One spokeswoman Julie Rakes said in an email the McLean-based company has also slated for closure a branch at 12961 Fair Lakes Center in Fairfax and another in Easton on Maryland's Eastern Shore...

Kidder Mathews predicts increase in hotel sales in 2012 - Mon, 06 Feb 2012
Steady improvement in hotel occupancies and room rates in the Puget Sound area will lead to an increasing number of hotel sales in the coming year, according to a new report from Kidder Mathews. The Seattle-based commercial real estate brokerage said hotel real estate investment trusts are picking up top-tier hotel properties in anticipation of a significant near-term bump in room rates as the post-recession economy continues to recover. The number of local hotel transactions has been rising steadily after hitting a five-year low in 2009 of just three sales...

Reddy Development buys Coldwater Springs Promenade for $7.75M - Mon, 06 Feb 2012
Reddy Development in Scottsdale purchased the Coldwater Springs Promenade, a partially developed retail project on the southwest corner of Van Buren Street and Avondale Boulevard in Avondale, for $7.75 million. The company plans to complete the project, which includes about 11,500 square feet of vacant space and five undeveloped retail pads. Currently Fresh & Easy Neighborhood Market, Staples and Jack in the Box anchor the center. The seller was Labrusca Holdings Corp. in Phoenix, which acquired the property through foreclosure...

New Braunfels unveils enhanced ‘one-stop-shop’ site for economic development - Mon, 06 Feb 2012
New Braunfels Economic Development (Build NB) officials have added new high-tech capabilities to the Web site NewBraunfelsProspector.com. The enhancements were designed to make it easier for site selection specialists and commercial real estate brokers to search for available properties in New Braunfels. Build NB officials added a mobile site to NewBraunfelsProspector.com that should allow more New Braunfels-area brokers to list available land and space. Brokers can also add their company logo, have their property featured and can upload unlimited documents and pictures to their site...

Van Gilbert named AIA fellow - Mon, 06 Feb 2012
Architect Van H. Gilbert has been elevated to the American Institute of Architects’ College of Fellows. The honor is awarded to AIA members who have made contributions of national significance to the profession. Gilbert is founding principal and president of Van H. Gilbert Architect PC in Albuquerque. He has designed multiple learning environments, including schools, colleges and universities, aquariums and zoos, and also worked to preserve New Mexico’s rich architectural legacy while creating modern regional architecture, according to a news release...

Colorado State Bank sees mixed results on loans; parent BOK’s profit higher - Mon, 06 Feb 2012
BOK Financial Corp., parent company of Colorado State Bank and Trust, saw a sharp year-over-year rise in its commercial loan balance in Colorado in the fourth quarter, but its commercial and residential real estate loans declined. The bank reported an 18.8 percent increase in its commercial loan portfolio in Colorado in the quarter, to $559.1 million, from $470.5 million in the fourth quarter of 2010. BOK’s commercial real estate loans in the fourth quarter totaled $153.8 million, down from $197...

Bank of America ponders selling most of its office buildings - Mon, 06 Feb 2012
Bank of America is considering selling all of its office buildings except for its principle offices in New York and Charlotte, according to Bloomberg News. The move underscores the lengths California’s largest bank will go to to raise capital. But if you’re going to unload commercial real estate, now’s the time to do it given investors’ appetite for well located real estate and low-rate financing. “We are currently reviewing all of our properties across our portfolio, with the exception of Bank of America Corporate Center in Charlotte and Bank of America Tower at One Bryant Park” in Manhattan, BofA (NYSE: BAC) Kelli Raulerson told Bloomberg...

Renderings: Work on new Mpls apartments to start in spring - Mon, 06 Feb 2012
Sherman Associates says it will start building a 180-unit apartment building along Hiawatha Avenue in Minneapolis in the spring. Sherman began advertising for subcontractors on Saturday for the Longfellow Station project. >Click to the right to see renderings of the project. >>>>> The company said it expects to complete the mixed-use project at 3815 Hiawatha Ave. in 14 months from the state date. In addition to the apartments, the project will include 10,000 square feet of commercial and retail space that will be in a one-story building adjacent to the four-story apartment building...