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PHOENIX-The firm, which has already moved in, is using the space as the general office for their medical claims and consulting business. The term of the lease is three years.
WASHINGTON, DC-The new class A building at 601 New Jersey Avenue--a multi-million dollar, 259,000-sf office structure--is now leased to capacity with Medicare Advisory Commission and the Federal Mine Safety Health Review Commission's commitment to the building's last 46,000-sf of space.
ORLANDO-Five million sf is vacant in the six submarkets monitored in the second half by four area brokerages. Downtown vacancies are at 12.4%, up from 9.5% in the same 2001 period. South Orlando is drowning at a 25.1% vacancy level, up from 15% a year ago.
DIAMOND BAR, CA-In the second of two recent leases, ADP soaks up 30,492 sf of space here for its tax and financial services division. Martin-Brattrud Properties is the building owner.
LEXINGTON, MA-ICF Consulting relocates its regional headquarters from Cambridge by taking 35,000 sf at 33 Hayden Ave. The consulting firm is taking space previously leased to Mercer Management Co., which is relocating to the city.
BURLINGTON, MA-Digimarc ID Systems, an Oregon-based company that develops digital watermarking technology, is leasing 60,000-sf of space at 63 Third Ave in the Northwest Office Park. The company was the winning bidder for the local division of Polaroid's ID Division.
PHOENIX-As the office market continues to suffer, high tech/back office users are being lured back into traditional office space by cheap rents and concessions. As a result, the high tech/back office sector of the Phoenix industrial market is hemorrhaging space.
ENGLEWOOD CLIFFS, NJ-The tech support company has boosted its headquarters space from just 4,000 sf after subleasing adjacent space from Physician WebLink.
LA PALMA, CA-Automatic Data Processing Inc., part of Roseland, N.J.-based ADP's dealer services group, renews for five years in 37,904 sf at Arden Realty's 597,000-sf Centerpointe La Palma project.