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ROSEMONT, IL-Michael J. O'Hanlon, whose career includes local posts with Cushman & Wakefield, syndication pioneer Balcor Co. and Citibank, returns to Chicago after three years in Dallas to head the real estate services firm's north central region.
PHILADELPHIA-New Jersey-based PSEG's SiteFinder partnership highlights the strengthening relationship between brokers and utilities at a Utility Economic Development Association forum. A panel applauds utilities' databanks and analyses, but split over whether utilities should charge commissions.
HOUSTON-World Projects International renews a 6,134-sf lease for its headquarters at Greenbriar Place. Strategic Materials, a leading glass recycler, takes 5,969 sf in the city's southwest submarket.
CHICAGO-The 50-story, 1.3-million-sf office tower at1 N. Wacker Dr. is now 91% leased with Merrill Lynch leasing 42,000 sf and General Reinsurance 35,000 sf. The West Loop tower built on speculation is for sale.
NEW YORK CITY-Jupiter Research is loading the moving trucks today for its relocation to a 16,000-sf Midtown space. The firm, acquired by Darien, CT-based IT news service INT Media Group, will open for business at the new address on Monday.
CORONA, CA-La Canasta Furniture inks a four-year lease renewal and expansion valued at $3.8 million for 173,000 sf of industrial space at 1235 Quarry St. The company has been located at the 418,000-sf facility for the past three years.
RICHARDSON, TX-RREEF's willingness to bend the terms fills a chunk of Ericsson's office space at 715 N. Glenville. InterFET the tenant gets signing incentives that the broker says are just too good to pass up.
SAN FRANCISCO-Shortly after losing a multi-million-sf Microsoft account to Grubb & Ellis, Johnson Controls loses another big account after Sun Microsystem's selects Cushman & Wakefield to manage its 220-property, 11-million-sf portfolio.
MIAMI-Leasing activity has dropped 25% to the 3.3 million-sf mark and net absorption is at a negative 725,835 sf, down from a positive 282,000 sf last year at this time, according to a second-quarter study by Cushman & Wakefield of Florida Inc.
ORLANDO-In the last 14 months, Jim Michalak, senior director in the brokerage's Tampa office, has closed 13 shopping center deals totaling 1.66 million sf valued at $128.4 million and averaging $9.88 million per deal. Cap rates are down and power centers are back in demand, Michalak says.