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LOS ANGELES-Wedbush Morgan Securities, an investment bank and brokerage firm located here, has signed a 10-year lease for 113,000 sf of office space at 1000 Wilshire Blvd. The lease is valued at $26 million and makes the investment firm the building's primary tenant.
CHERRY HILL, NJ-The class A asset, owned by an affiliate of Philadelphia-based Berwind Property Group, is already home to such tenants as GE and Campbell Soup.
WILMINGTON, MA-The brokerage services team of Cushman & Wakefield has recently negotiated a number of lease deals here and in the Metro West area. The area has recently seen its vacancy and availability rates go up while its rents have been going down.
SEATTLE-Five buildings built by former developer Jack Benaroya are now up for sale, and an additional 1 million sf or so will make its way onto the market soon as well.
ENCINO, CA-Marcus & Millichap Real Estate Investment Brokerage has sold the 212-unit Channel Point Apartments in Long Beach for in excess of $31 million. At the time of the sale, the apartment complex was fully occupied.
NEW YORK CITY-While retaining his Long Island and Connecticut management duties, 15-year C&W veteran Kenneth Krasnow will take on the task of overseeing business development opportunities here.
DENVER-The industrial and retail sectors are the best places to be this year, industry experts at an economic briefing sponsored by the Denver Metropolitan Commercial Association of Realtors say, while multifamily and office professionals can expect another tough year.
New York City-Having scored the managing and leasing assignments for the properties, Insignia hires the pair away from prior management Shorenstein Properties to continue as leasing agents for the buildings.
HOUSTON-Aluma Systems, based in Houston, finalizes a deal for the Bayport North Industrial Park. Work is beginning on a 14,000-sf build-to-suit project going up on eight acres now leased to the construction industry supplier.