News about <![CDATA[Richard]]> News about en-us <![CDATA[Tiffany Shared What $2,000 Meant to Her ... and the President Stopped by to Talk About It]]> Today President Obama visited one of the 114 million American families who would see their taxes go up next year if Congress fails to extend the middle-class tax cuts. 

Tiffany, a high school teacher who lives in Northern Virginia, is also one of the thousands of people who wrote in to the White House to share what it would mean to her family if their income taxes went up next year.

Although a typical middle-class family could pay about $2,000 more in taxes in 2013 if the tax cuts aren't extended, the President explained why Tiffany’s family would likely pay more. 

Her husband, Richard, works at a Toyota dealership. They actually live with Tiffany’s parents, both of whom are still working. And so what Tiffany pointed out was that an increase of $2,000 or so for her and her husband in this household would actually mean $4,000 that was lost. And a couple of thousand dollars means a couple months’ rent for this family.

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]]> <![CDATA[Duke Realty Sells Assets to JV – Analyst Blog]]> Duke Realty Corp. (DRE), a real estate investment trust (REIT) engaged in owning, managing and developing industrial, health care and office properties across the U.S., recently sold three office buildings in Perimeter Park in Morrisville, North Carolina. The assets were sold to a joint venture formed between Duke Realty and CB Richard Ellis Realty Trust for an undisclosed amount.

CB Richard Ellis Realty Trust is a REIT that primarily invests in office, retail, industrial and multi-family residential properties across the U.S. It is sponsored by CB Richard Ellis Investors LLC, an indirect wholly-owned subsidiary of CB Richard Ellis Group Inc. (CBG).

The properties spanning 265,073 square feet of space were presently fully leased. The joint venture further intends to acquire newly developed built-to-suit projects worth $800 million over a period of three years.

Duke Realty is one of the largest commercial real estate companies in the U.S. For over 35 years, the company has leveraged its local presence and its integrated platform to drive returns, establishing itself as a premier publicly traded real estate developer in the country.

Duke Realty is currently repositioning its portfolio and has exited certain markets in an attempt to concentrate in areas where it already has a strong presence. The company has temporarily closed its operations in some of its newest markets including Austin, San Antonio, Seattle and Newport Beach. The portfolio repositioning is likely to improve the internal growth metrics, enabling Duke Realty to emerge stronger once the real estate markets fully recover.
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]]> <![CDATA[CBG to Consolidate Operations – Analyst Blog]]> CB Richard Ellis Group Inc. (CBG), the world’s largest commercial real estate firm, has decided to consolidate its operations in Uptown Dallas and bring its development and acquisitions divisions under a single roof. 

The company is currently in the final stages of negotiation to lease about 90,000 square feet of space at 2100 McKinney, a 375,000 square feet office building on McKinney Avenue in Dallas. With the lease, the property would have 75% occupancy. 

According to sources familiar with the deal, CB Richard is expected to vacate about 40,000 square feet at Lincoln Centre along LBJ Freeway and about 40,000 square feet at 2100 Ross Avenue in downtown Dallas. Trammell Crow Co., an independently operated subsidiary of CB Richard, is also expected to vacate about 20,000 square feet at Trammell Crow Center at 2001 Ross Avenue. 

The consolidation is expected to improve communication and collaboration among the various job functions. The strategic move is also expected to change the workplace dynamics and result in a corporate synergy, unifying the culture of the company and enabling the employees to work cohesively as a team. 

CB Richard is a commercial real estate services firm with full-service operations in metropolitan areas worldwide. The company offers a range of services to occupiers, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estate assets globally under the CB Richard Ellis brand and provides development services under the Trammell Crow brand.
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]]> <![CDATA[St. Joe Inks Deal with CB Richard – Analyst Blog]]> The St. Joe Company (JOE), a publicly-held operationally diversified real estate company, has inked a deal with CB Richard Ellis Group Inc. (CBG), the world’s largest commercial real estate firm, to sell or lease over 1,000 acres of its land adjacent to the new Northwest Florida Beaches International Airport for commercial development.
 
St. Joe is developing the new international airport near Panama City Beach, which is slated to open in 2010. It is also developing approximately 1,000 acres adjacent to the new airport for industries, offices, retailers, and hotels. Once completed, the airport will become a major growth driver for the region, creating jobs and revenue-generating opportunities for other companies as well. 

According to the terms of the deal, CB Richard will solicit global office, retail and industrial companies to occupy space at the prime location at close proximity to the airport. The site is part of approximately 71,000 acres that St. Joe owns within the West Bay Sector Plan, a large mixed-use master-planned project located in Bay County in Northwest Florida. 

CB Richard is a commercial real estate services firm with full-service operations in metropolitan areas worldwide. The company offers a range of services to occupiers, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estate assets globally under the CB Richard Ellis brand and provides development services under the Trammell Crow brand.
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