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ATLANTA-The former director of Cushman & Wakefield's structured finance group will lead Wells Real Estate Funds' efforts to expand its sale/leaseback portfolio which is shooting for $1 billion in investment sales over the next 12 months.
ATLANTA-The locally based utility holding company reportedly got a bargain at $14.75 per sf, versus the midtown average of about $21 per sf. Its choice of the Midtown property is expected to help revitalize a market that has been soft for a decade.
SAN JOSE, CA-Seven industrial and R&D brokers from Grubb & Ellis' San Jose office resigned on Friday and walked over to Insignia/ESG, which is currently expanding its offices from one-half floor to one full floor at 160 West Santa Clara St.
PHOENIX-Larry Downey and Jerry Jacobs change their letterhead after years of being with Grubb & Ellis. The long-time partners get senior director titles with the affiliation change. It's just a fluke that it coincided with the failed G&E buyout talks.
PORTLAND-Five of the major local brokerage houses agree this week to have most of their licensed brokers subscribe to the new database and broadcast email system starting June 1, giving the Commercial Association of Realtors the revenue base it needs to keep its fledgling online subsidiary growing and improving. It's not without controversy, however.
CHICAGO-Capitalizing on soft market conditions, the Great Books Foundation gets a reduction in its lease rate in a deal keeping the organization at 35 E. Wacker Dr. in the Central Loop.
WHITE PLAINS-Reckson Associates Realty Corp. reports that it has secured 10 new leases totaling nearly 50,000 sf of space at its office properties in White Plains and Tarrytown.
NORTH BERGEN, NJ-The fast-growing retail chain, which recently opened its 100th store, will stay in its current hometown with the deal to occupy the combination office/warehouse facility.
NEW YORK CITY-Integrated communications provider Paetec takes 13,000 sf at 75 Broad St. in the largest of four recent signings totaling 25,600 sf. Owners JEMB Realty cite a return to traditional tenancy in the downtown market as the driving force behind a recent flurry of leasing activity in the building.
FULLERTON, CA-Dallas-based Staton Wholesale will relocate its West Coast warehouse and distribution facility to the newly leased site, which stands at 2100 Valencia Drive. Staton will take 87,000 sf at the 268,000-sf industrial building.