Arden Realty, Inc. Gives 2.4 Million Square Foot Leasing Assignment to Two Local Brokerage Firms.Business Editors Colliers International and CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Will Share Leasing of 21 Arden Buildings in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Arden Realty, Inc., San Diego's second largest office landlord, announced today that the leasing assignment for more than 2 million square feet in San Diego County has been given to two brokerage teams at Colliers International and CB Richard Ellis. The assignment includes 21 buildings in the San Diego and Carlsbad areas with each brokerage firm handling more than one million square feet. The announcement signals a departure in leasing strategy for the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, office REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). . "Up to this point, we have worked with many local brokers, all of whom have done an excellent job," stated Tim Moore, Arden's Vice-president - San Diego Region. "But we're in an extremely challenging economy right now, and we need the targeted commitment of a couple of top firms that will focus on our buildings and deliver proactive leasing strategies to our portfolio." Arden's management is counting on their two top choices to make the leasing process more streamlined for all brokers bringing tenants to their properties. The fact that CB Richard Ellis and Colliers International will handle a wide range of Arden's inventory should also expedite the alternatives presented to tenants seeking to locate or expand in the San Diego area. In addition, both Colliers International and CB Richard Ellis have committed substantial resources in research, reporting and marketing that will assist the overall leasing activity on Arden's behalf. About Arden Arden Realty, Inc. (NYSE NYSE See: New York Stock Exchange :ARI ARI Acute respiratory infection, see there ) is a self-administered and self-managed real estate investment trust that is the largest office landlord in Southern California, with 130 properties and approximately 18 million square feet of office space. For the past three years the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and cited Arden as the "Commercial Real Estate Owner of the Year" for its innovative energy initiatives and for owning the most energy efficient buildings in a single portfolio in the nation. Arden is the second largest office landlord in San Diego and has had significant commercial real estate holdings in San Diego County area since 1995. |
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