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DALLAS-Town North National Bank, an original tenant at 4455 LBJ Freeway, re-ups its 47,000 sf, rolls in another 18,000 sf and makes plans to redo its lobby and banking facility. The new deal closes on the eve of an exit by a 75,000-sf tenant.
LOWELL, MA-Yale Properties USA and Blackstone Real Estate Advisors put the Cross Point, a 1.2 million sf office project located near Routes 495 and 3, up for sale. The broker involved tells GlobeSt.com that strong interest on the part of potential investors convinced the owners to put the property on the market.
NEW YORK CITY-Rubin Fiorella & Friedman law firm takes 10,536 sf at 292 Madison Ave., doubling the size of its previous sublease space and ramping up its staff from 30 to 60. The firm stays in the Grand Central Station neighborhood to retain the rail link to its White Plains office, which is also slated for expansion.
ATLANTA-The 10-year contract has an estimated value of $17 million based on a quoted average rent of $23 per sf in the Midtown submarket. The 15-year-old, 50-story, 1.1-million-sf structure, owned by Sumitomo Life Realty (N.Y.) Inc., is 97% leased.
DALLAS-Bets are being placed that CSFB will sell its Republic Center before the month's out, but it's not going to be today. The rumored price of under $10 million has Dallas talking. Meanwhile, a 74,000-sf tenant is on board for 10 years.
SOUTHERN NH-Increased activity in the area indicates that that its commercial market is starting to show signs of picking up. The transactions include the sale of a 14,600-sf warehouse, and a number of lease deals.
CARROLLTON, TX-Easton & Associates isn't stopping with just one acquisition in Dallas-Fort Worth, says a broker involved in the deal with the Miami investment company. The Carrollton property is just first out of the pipeline.
NEW YORK CITY-While industry watchers question the wisdom of CB Richard Ellis' ongoing negotiations to acquire Grubb & Ellis, overly zealous CBRE brokers may be monkeywrenching the job their bosses are trying so hard to complete. Sources say the firm's rumor mill has been working overtime following publication last week of an internal memo telling CBRE staff that the deal is in the bag.
LONDON-UK property yields are falling again, according to Cushman & Wakefield Healey & Baker's latest quarterly market report. The return of institutional money has resulted in more competition in the market for prime property.
LONDON-UK property yields are falling again, according to Cushman & Wakefield Healey & Baker's latest quarterly market report. The return of institutional money has resulted in more competition in the market for prime property.