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Home security firm ADT has five years remaining on its lease at the property that is situated on 10 acres of land adjoining the golf course the Old Course at Broken Sound.
LaSalle says that one reason it is rejecting Pebblebrook's offer is because there are significant price risks and uncertainties for LaSalle shareholders.
Colliers International experts say Manhattan office leasing is going strong in the first half of the year, but seven million square feet of space will be entering the market.