REAL ESTATE

Grubb & Ellis names exec

BY CSA STAFF

Phoenix — Grubb & Ellis Co. announced that Robert P. Stephens has joined the company as VP Industrial Group.

Specializing in the representation of industrial tenants and landlords, Stephens joined Grubb & Ellis from Cushman & Wakefield.

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REAL ESTATE

Baker Katz acquires former Hollywood Video building

BY CSA STAFF

Houston — Houston-based commercial real estate brokerage Baker Katz, an X Team partner, announced that it has acquired a former Hollywood Video building at Grogan’s Mill and Sawdust in The Woodlands, Texas.

As part of an investment fund dedicated to real estate development, acquisition and ownership, Baker Katz purchased the 7,500-sq.-ft. building that is located near the area’s newest Wal-Mart Supercenter in The Woodlands, and plans to renovate and expand the building, subdivide it and re-lease the new spaces to individual tenants.

Terms of the deal were not disclosed.

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REAL ESTATE

The District at Tustin Legacy wins waste reduction award

BY CSA STAFF

Orange County, Calif. — The District at Tustin Legacy, a 1 million-sq.-ft. lifestyle and entertainment center located in Orange County, Calif., has been awarded the 2010 CalRecycle Waste Reduction Award for being a regional leader in recycling and waste reduction.

“We provide a comprehensive recycling program for our nearly 70 businesses at the center and our tenants recycled more than 310 tons of recyclable material in 2009. This compounds to more than $40,000 in trash costs each year,” said Kimberly Daskas, director of marketing at The District at Tustin Legacy, which is managed by Vestar Property Management.

The award comes as Vestar has launched a major environmental commitment called GreenStar, which objective is to have certified sustainable development for millions of sq. ft. of retail space it owns and plans to develop in the Southwest.

Vestar’s recycling and waste management program at The District at Tustin Legacy includes an intricate recycling and compost program, environmentally preferable purchasing program and environmental education and incentives for its tenants. The District at Tustin Legacy property uses drought-tolerant xeroscaping, low paper use and recyclable materials in its management offices, a recycling program, and stresses an environmentally preferable purchasing system for office and industrial cleaning products and LED light bulbs.

The management company also handles its own landscaping and places waste into a composting system for the city of Tustin, as well as carries out an environmental education and incentive program. This program includes employee, supplier, customer and community education and e-waste collection events for the local residents.

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