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SAN FRANCISCO-After experiencing increases in asking rates of between 45% and 80% last year, Cushman & Wakefield predicts that rents in the San Francisco and Silicon Valley markets will have dropped between 13% and 18% by the end of 2001.
RICHMOND, VA-Crocker Realty Trust sold the buildings for $21.2 million. Cushman & Wakefield represented Crocker in the sale, part of 6.2 million sf it has assisted the company in selling across the country.
CORAL SPRINGS, FL-The Tampa-area discount furniture retailer pays Miami-based Pan American Group Inc. $6.5 million or $141,304 per acre ($3.24 per sf) for a 46-acre industrial-warehouse site in Corporate Park here, 34 miles north of Miami.
TEMPE, AZ-Tosco's 170,000-sf new building is up for grabs, with brokers now looking for tenants. A company takeover by Phillips Petroleum means it's just extra space.
ELK GROVE VILLAGE, IL-MET Prototype Molding Inc. buys 30,636-sf 701 Lee St. to expand its operations in this northwest suburb in the O'Hare submarket from D'Oro Enterprises of Arlington Heights, IL.
HOUSTON-International freight forwarder Zust Bachmeier USA has sealed a 48,246-sf deal for more warehouse space in a property along Ranking Road. At Bayport North Industrial Park, Calpine Central has leased 45,919 sf.
HOUSTON-Four tenants have finalized pacts for an aggregate 16,969 sf of office space in the metro area. Safety-Kleen has signed for the largest spot with BancTec USA in a close second.
SAN FRANCISCO-The addition of a top producer from Cushman & Wakefield's local office as Insignia's new senior managing director underscores the commercial firm's commitment to expanding its operations in the area.
AUSTIN-Southern Union Co. is taking an extra 7,500 sf for a total of 51,000 sf in the under-construction Barton Skyway IV. And, it could end up the lead tenant for now if Vignette decides to withdraw its commitment for 108,000 sf.
ROSELAND, NJ-The Florham Park, NJ-based owner/developer's recent transactions show that the market is alive and well with companies desperately seeking space. It recently signed leases for almost 14% of its total 1.1 million sf.