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LOS ANGELES-Kelly Paper Co. Inc. signs on for all of a 41,328-sf building Downtown. The building owner is Western States Technologies Inc., a Los Angeles-based real estate investment firm.
PHOENIX-The industrial vacancy crept up 0.7% in the last quarter. But, that's sure to come down as the year progresses, says Cushman & Wakefield in its latest market analysis. The market is just following the economy, says the author.
HOUSTON-With 1.3 million sf for all of 2001 being absorbed, the first quarter's 1.2 million sf is phenomenal. The hope is four million sf to five million sf will be absorbed before the year closes, says a Cushman & Wakefield of Texas broker.
MIAMI-Fort Lauderdale, FL-based Citrix Systems Inc., a 13-year-old software manufacturer, paid $55.1 million for the 140,411-sf, five-year-old Cambridge Executive I and the newly completed 140,778-sf Cambridge Executive II at 899 W. Cypress Creek Road, Fort Lauderdale.
HOUSTON-United Refrigeration stays put at North Shepherd Business Center while Zebra Woodworks & Installation moves across the street to Hempstead Highway Business Park in a 12,220-sf direct deal.
DALLAS-Piper Rudnick goes from a sublease to a 10-year direct lease for 24,213 sf while Ohashi & Horn sets up shop in 2,400 sf for the next five years. The deals keep the 1.5-million sf Bank One Center above 90% occupancy.
CAMBRIDGE, MA-The Exeter Group, a technology-consulting firm, leases 30,074 sf at One Canal Park, a 98,154-sf property. The building is 80% leased. This area's office market has been struggling with rising vacancy rates.
LA VERNE, CA-The 208-unit Los Arbolitos Apartment community was sold to a private pension fund client of Lend Lease Real Estate Investments of San Francisico. CT Realty, the seller, invested more than $1.4 million in upgrades during its ownership.
WHITE PLAINS-EastRidge Properties, the owner of four office parks built by pioneer Westchester developer Lowell Schulman which will mark its 10th year in operation next month, reported continued strong leasing activity at its portfolio of properties here in the first quarter of 2002.