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MIAMI-Speculative construction completions tumbled 73.5% from 1.6 million sf in the third quarter of 2001 to 424,589 sf for the same period this year, according to Cushman & Wakefield's recently released third-quarter industrial report.
DALLAS-The breakdown is 37,995 sf in direct leases and 90,497 sf in renewals. The largest renewal, 44,712 sf, goes to an Arlington building in the Great Southwest Industrial Park and the largest direct deal, 14,377 sf, is signed for Quad Center in Las Colinas.
FORT WORTH-An 88,904-sf office building in Fort Worth's Medical District sells in 30 days to local investors with a penchant for the product type. In an unrelated sale, Fort Worth's Crescent gets $4.4 million for two of its nine Charter Behavioral facilities.
DETROIT-Five office and industrial transactions involving Cushman & Wakefield have been closed recently, including a Big Boy lease of unused space to Sears, to help the struggling restaurant chain with its bottom line.
CAMBRIDGE, MA-Block Financial renews its lease and expands its space at 10 Fawcett St. in the Alewife commercial district. The Kansas-based tax preparation company is leasing 16,457 sf of space in the 130,000-sf building.
LONDON-London is still the most popular city in Europe in which to locate a business, followed by Paris and Frankfurt, according to a new survey by Cushman & Wakefield Healey & Baker.
NEW YORK CITY-Officials at the San Francisco-based firm are seething over a published report stating that it had submitted one of the many losing bids to buy the building and insinuating that it was booted from leasing and management duties at the property.
WASHINGTON, DC-Contractors say the 150-million building that will sit at 901 New York Ave. is going up fast, with construction moving forward as planned. The 530,000-sf building is pre-leasing almost as quickly--leasing capacity is already at 65% in anticipation for the 2004 completion.
HOUSTON-Union Pacific's brokers find buyers for "surplus property," the only Houston holdings that it's labeled as such for now. The warehouse, assessed at nearly $240,000, sits on one acre at 1133 Providence St. The land goes in a separate deal.
MIAMI-Under the merger, valued at an estimated $730 million, Equity One would acquire IRT to form one of the biggest shopping center REITS in the Southeast with a combined 181 properties and 18.7 million sf in 12 states.