Wednesday, February 17, 2010

Cushman & Wakefield's Elizabeth Trocchio Promoted to EVP

Cushman & Wakefield promoted Elizabeth Trocchio to EVP, area leader, joining five other executives in the firm’s newly restructured US Area Leadership group. In her new role, Elizabeth will oversee the Central Region, including offices in Chicago and Minneapolis, as well as Cushman & Wakefield’s Alliance firms in El Paso, Austin, and San Antonio, as well as the Midwest. She will also be seated on the Cushman & Wakefield Global Advisory Board while continuing to lead the Dallas office as branch manager. 

Vacant Dillards Building at Redbird (Southwest Center Mall) Mall Sold

Dallas-based limited partnership El Rey Properties purchased a 160k SF two-story anchor building at Southwest Center Mall at the northwest quadrant of Highway 67 and I-20. The seller was Dillard Texas, LLC. The purchase price was not disclosed. The Weitzman Group’s Brian Glaser and Michelle Caplan handled negotiations as exclusive listing agents for the building in cooperation with Excess Space Retail Services. The buyer was represented by ICB Properties’ Dave Valdez. The building, which formerly housed Dillard's department store, is slated for planned re-development.

Oak Cliff Comerica Bank Site Sold

Quorum Equities sold .78 acres located at 2727 Fort Worth Ave. in Dallas to a California investor. The property is currently leased to Comerica Bank for construction of a 4k SF building. CushWake’s Brandon Beeson, Will Walters, and Stephannie Mower represented the seller. Henry Casden represented the buyer.

DALLAS FORECLOSURES RISE AFTER FEBRUARY FALL

After a 4 percent year-over-year fall in February foreclosure postings, March postings increased 30 percent from the same month last year, according to Addison-based Foreclosure Listing Service.
The 5,548 postings for forced sale in March are also 18 percent above the number of homes in this month’s auctions, which saw the first decline in foreclosure filings on a year-over-year basis since October 2007.
By county, Tarrant County March postings rose 37 percent from last year, while Collin and Denton Counties had a 34 percent increase. Dallas County foreclosure postings climbed 23 percent from March 2009.
First-quarter foreclosure postings increased 22 percent from the year ago period to 16,137 postings. This number, however, was down 4 percent from fourth quarter 2009.
Fewer than half the homes scheduled for foreclosure auction each month are sold by lenders.