Archive for July, 2008
Posted by dbsi on July 31, 2008
Phoenix Peak is a three-story, 88,739 square foot, office building located at 7310 North 16th Street in Phoenix, Arizona. The Phoenix Peak Office Building includes a two-story parking garage with a total of 357 parking spaces yielding a parking ratio of 4.0 spaces per 1,000 square feet. The Phoenix Peak Office Building contains a 1,350 square foot health club. The property is very well positioned with convenient access to Highway 51 (a major north/south thoroughfare), East Glendale Avenue to the south and East Northern Avenue to the north.
Phoenix Peak Property Details
Phoenix Peak Brochure
Phoenix Peak Site Map
More information about DBSI leasing avaialble at http://lease.ddrs.net/Home.aspx
Posted in DBSI Leasing | Tagged: arizona, dbsi, DBSI Leasing, for lease, office space, phoenix, phoenix peak, retail space, space available | Leave a Comment »
Posted by dbsi on July 24, 2008
Acquisitions include properties located in high-growth metropolitan areas
DBSI Acquisitions, a nationwide buyer of investment-grade commercial and residential real estate, is pleased to announce that it has recently completed the purchase of five well-positioned real estate properties in growth areas. The aggregate value of the properties is over $97.5 million dollars.
These transactions include:
• North Stafford Centre (Washington, DC MSA) – The Property is a three-story, Class A office building representing approximately 93,951 square feet of rentable space. Located in Stafford, Virginia, North Stafford is situated on 7.1 acres and is the first building of a new center for business and technology. Completed in the fall of 2006, the property is already 88.7% leased to nine tenants with gross leases that have renewal options. Future plans for the area include two elementary schools and an aquatic center.
• Portofino Tech Center (Houston, Texas MSA) – The Property is a single office/flex building center located in Montgomery County, Texas near the Woodlands, a high growth community approximately 30 minutes north of Houston. The property is just off the I-45, a major north-south arterial running from Houston to Dallas. Portofino Technology Center is situated on approximately 8.2 acres with approximately 87,701 square feet of net rentable area. Built in 2001, the center is currently 100% leased to both international and national tenants.
• Florissant Marketplace (St. Louis, Missouri MSA) – Located in Florissant, St. Louis County, Missouri, the Property comprises three, single-story in-line retail buildings representing 146,257 square feet of rentable area situated on approximately 19.91 acres. The center is anchored by a large regional grocer and a national fitness center. This property sports a prime location connected to the state and national highway systems by Interstate 270, US Highway 67 and Missouri Highway 370.
• Topsham Fair Mall (Portland, Maine MSA) – The Property is a Class A retail center located in Topsham, Sagadohoc County, Maine. The property is situated on approximately 4.4 acres with approximately 45,469 square feet of net rentable area. Newly built in 2007, Topsham Fair Mall, which is located in the Topsham shopping center, is currently 100% leased to both national and regional tenants. The center is sub-anchored by several big box retailers and anchored by Best Buy, a national retailer of electronics and appliances.
• Pinehurst Square (Bismarck, North Dakota MSA) – The Property is part of a newly constructed retail power center located in Bismarck, North Dakota. This Class A property consists of six newly-constructed single-story buildings that represent approximately 183,430 square feet of rentable space. The property resides on approximately 28.9 acres and benefits from an excellent location along Interstate 94 (I-94). Pinehurst Square is approximately 91% leased to a diverse mix of tenants with exceptional leases through 2017.
Since 2004, the Acquisitions division of DBSI has acquired over 200 properties valued in excess of $2 billion in more than 30 states. Their primary focus is to locate and acquire high-quality real estate such as retail, office, flex, industrial and multifamily offerings. DBSI has acquisition offices located in Atlanta, Boise, and Chicago. For more information, contact Vic Moore in the Atlanta office at 770-841-0001, Bill Fremgen in Boise at 208-489-2600, or Matt Blauvelt in Chicago at 312-212-4456. Information is also available by visiting www.dbsi-ddrs.com.
About DBSI
DBSI is a 29 year old leader in diversified investment real estate. The company currently manages over 18.6 million square feet, encompassing 280 properties in 34 states with an aggregate value of over $2.65 billion. DBSI specializes in the acquisition and development of real estate in all four stages—land banking, land entitlement, development & construction and income producing assets. Learn more about DBSI at www.dbsi.com.
Posted in DBSI Acquisitions | Tagged: dbsi, DBSI Acquisitions, florissant marketplace, north stafford centre, pinehurst square, portofino tech center, real estate investment, real estate properties, real estate transactions, topsham fair mall | Leave a Comment »
Posted by dbsi on July 22, 2008
GROUNDBREAKING FOR THE SHOPPES AT LEXINGTON – COMING SOON
DBSI is pleased to announce the groundbreaking of The Shoppes at Lexington, a new 7,300 square-foot Class A retail center development in Lexington, South Carolina. The Property is located on Sunset Boulevard/Highway 378, the primary East-West retail corridor connecting Interstate-20 and Columbia, South Carolina. The project site is adjacent to Super Wal-Mart.
The old Southtrust Bank building that currently sits on the site will be demolished and replaced with an attractive brick and stucco building that will feature a drive-thru and patio seating area. Consumers will be able to access the site directly off Sunset Boulevard or to the rear of the property via Old Cherokee Road.
DBSI recently executed a lease with national wireless communications provider AT&T for 3,500 square feet of the project. Leasing space remains available for The Shoppes at Lexington. Please contact Josh Diggs for more information at 727-329-1950 or jdiggs@dbsi.com.
About DBSI Development
DBSI Development is a wholly owned subsidiary of DBSI. DBSI Development develops properties through partnerships with an array of development professionals who have roots in growing regions of the country. As a national development company, DBSI Development provides decades of knowledge, and a flexible array of services.
DBSI Development is focused on land acquisition and the development, management, and leasing of commercial and multifamily projects throughout the United States. The company works with national retailers and corporations, developers, and current land owners to successfully develop new commercial properties. DBSI Development’s flexible structure and strong financial base allows the company to entertain a variety of projects, meet crucial timelines, and exceed expectations.
DBSI Development’s current projects include banking land for future development, preparing land for near term development, or vertically developing property immediately.
More information available at www.dbsidevelopment.com
About DBSI
DBSI is a 29 year old leader in diversified investment real estate. The company currently manages over 18.6 million square feet, encompassing 280 properties in 34 states with an aggregate value of over $2.65 billion. DBSI specializes in the acquisition and development of real estate in all four stages—land banking, land entitlement, development & construction and income producing assets. Learn more about DBSI at www.dbsi.com.
Posted in dbsi, dbsi development | Tagged: acquisitions, dbsi, dbsi development, investment real estate, josh diggs, lexington, shoppes at lexington, south carolina | Leave a Comment »
Posted by dbsi on July 17, 2008
Signature Place is located in the heart of the most affluent area of Greensboro, North Carolina. From 1997 to 1999, Signature Place was totally redeveloped with an all-new façade, mechanical systems and interior finishes. Tenants enjoy the many amenities that Signature Place has to offer including: a 20,000 square foot K & W Cafeteria; a 3,933 square foot Positive Stress health club; Sterling South Bank; and, a three-level 1,200 space covered parking garage (the only one of its kind outside of downtown Greensboro). The most vibrant and popular retail shopping center in Greensboro, the Friendly Center, is positioned to the south of Signature Place.
Signature Place Property Details
Signature Place Brochure
Signature Place Virtual Tour
Signature Place Site Map
More information about DBSI leasing avaialble at http://lease.ddrs.net/Home.aspx
Posted in DBSI Leasing | Tagged: dbsi, DBSI Leasing, for lease, leasing space available, office space, retail space | Leave a Comment »
Posted by dbsi on July 15, 2008
DBSI Acquisitions, a nationwide buyer of investment-grade commercial properties, is pleased to announce that it has recently completed four transactions. The company closed on the purchase of residential land ideally located in the current and future paths of growth.
The primary focus of DBSI Acquisitions is on well-positioned real estate opportunities. These recent dealings fall under that approach as the company is aggressively buying finished lots, partially finished lots, super pads, and entitled residential land across the country.
The transactions include:
- More than 140 finished residential lots on approximately 70 acres within a master-planned community in a high-growth Phoenix suburb.
- A super pad site consisting of nearly 21 acres of residential zoned land situated in the northeast quadrant of the Reno-Sparks metropolitan area.
- A super pad site consisting of nearly 22 acres zoned high-density residential located in the northwest submarket of Las Vegas, Nevada.
- More than 190 residential lots within a two-phase subdivision located northwest of Orlando.
Since 2004, the Acquisitions division of DBSI has acquired over 200 properties valued in excess of $2 billion in more than 30 states. Their primary focus is to locate and acquire high-quality real estate such as retail, office, flex, industrial and multifamily offerings. DBSI has acquisition offices located in Atlanta, Boise, and Chicago. For more information, contact Vic Moore in the Atlanta office at 770-841-0001, Bill Fremgen in Boise at 208-489-2600, or Matt Blauvelt in Chicago at 312-212-4456. Information is also available by visiting www.dbsi-ddrs.com.
Posted in DBSI Acquisitions | Tagged: dbsi, DBSI Acquisitions, investment, investment-grade commercial properties, real estate, residential land | Leave a Comment »
Posted by dbsi on July 8, 2008
Q: Explanation how a potential owner can depreciate against their cash flow.
A: Depreciation is based on the adjusted cost basis of the property. For a straight purchase this would include the debt plus the equity (i.e. the total purchase price). For a 1031 exchange, the total purchase price of the replacement property must be reduced by the gain that is deferred on the relinquished property so in the case of an exchange the depreciable basis is less than the total purchase price. Land is never depreciable. If depreciable property and land are exchanged for land (with no buildings or improvements), the entire basis of the relinquished property becomes the tax basis of the land acquired as replacement property. If land and improvements are exchanged for land and improvements, the allocation of basis to the replacement land must be reasonable and the exchanged basis will have to be reallocated between land and buildings.
Assume that a farm property is traded for a new commercial office building. The cost basis of the farm (land and depreciable improvements) was $100,000 and accumulated depreciation to date of sale was $60,000 so that the adjusted basis is $40,000. The sale price of the farm is $200,000 and the deferred gain is $160,000 ($200,000 minus $40,000 adjusted basis). The purchase price of the new office building is $500,000 ($200,000 equity from the farm plus $300,000 of new debt). The tax basis in the new office building is $340,000, its purchase price of $500,000 minus the deferred gain of $160,000. Assume that the basis is the new office building is allocated $75,000 to the land and $265,000 to the buildings. The taxpayer now has a basis of $265,000 that can be depreciated. The taxpayer can elect to use a simplified method and start depreciating this entire basis over the 39 years resulting in an annual depreciation deduction of $6,795. Alternatively, the taxpayer can continue to depreciate the “old basis” over the remaining useful life of the old property and the “new basis” over the new life.
Please note that the rules are very complicated and that the investor should refer to their own tax advisor. The rules regarding depreciation of property received in a like-kind exchange are in Regulation Section 1.168(i)-6.
Treasury Department Circular 230 Legend: Any advice contained herein was not intended or written to be used, and cannot be used, for the purpose of avoiding United States federal, state, or local tax penalties. Unless otherwise specifically indicated above, you should assume that any statement in this material relating to any United States federal, state, or local tax matter was written in connection with the promotion or marketing by other parties of the transaction(s) or matter(s) addressed in this material. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
Posted in dbsi | Tagged: 1031 exhange, dbsi, depreciation, real estate investment | Leave a Comment »
The Metropolitan Square is an urban mixed use center comprised of five buildings, representing a total of 120,981 square feet. The tenant mix combines local and national eateries, such as Panera Bread Company, a Shop-&-Save Market, and local vendors. The landscaping is inviting and clean using concrete walkways and lighting for containment. The center of the property has a large circular area with benches. The property possesses ample parking with a parking ratio of 6.9 parking spaces per 1,000 square feet.
14801 Quorum consists of a six story, 110,619 square foot office building (divisible) on 4.02 acres of Addison, Texas land. The Property resides within the Dallas MSA, and offers tenants unparalleled access from the Dallas North Tollway, one of the city’s main north/south thoroughfares. The building is also within minutes of LBJ Freeway, the city’s main east/west artery.