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PHOENIX-Office and industrial markets in the region are definitely following suit with the nation. Office vacancy was 12.8% at midyear and industrial, 8.9%. The sectors haven't stopped, but new construction is going to make the burden even harder to bear.
DENVER-Ann Sperling is promoted to managing director while Bob Hackett joins the local office as senior vice president, coming from Cushman & Wakefield, where he managed the New York City office.
IRVINE, CA-Locally based Pacific Newport Properties sells 755,137-sf warehouse and distribution facility in Mira Loma to insurance and financial-services giant Allianz of America. The project is fully leased to Wal-Mart.
NEW YORK CITY-Former Two World Trade Center tenant Thacher, Proffitt & Wood, signed a lease for immediate occupancy of three floors in a 42nd St. office building.
WOODINVILLE, WA-Quality Business Systems, a locally-based digital imaging provider, has leased a building to be constructed by Opus Northwest at the Woodinville 522 Business Center. QBS signed a lease for 32,000 sf of rentable space in Building D.
FRAMINGHAM, MA-After laying low for nearly a year, Boston-based Paradigm Properties acquires 959 Concord St. here for $12.15 million. Leggat McCall Properties, which is currently involved in restructuring its company, sold the 76,000-sf building.
NEW YORK CITY-Last week's tragic events shifted the real estate industry's powerful engines into high gear. Offers of aid for displaced businesses continue to roll in.
MIAMI-Cushman & Wakefield of Florida Inc. recruits Jerry Baird, who has handled more than $2 billion in multifamily property sales over the past 10 years, to manage the newly expanded South Florida operations.
IRVINE, CA-A 10-year lease has been inked by Tustin-based Scantron Corp. The company will take 110,000 sf at a 126,000-sf Irvine Spectrum building. The move will allow for growth of its Scanning and Surveys divisions.
DENVER-Advertising guru Terry Barnhart pays $4.5 million for 1819 Wazee St., 10% less than the 10-year lease he signed before spending another $2.4 million out of his pocket on tenant improvements.