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NEW YORK CITY-Long Island vacancy rates have only decreased 0.5% and rental rates continue to climb, according to of Cushman & Wakefield of Long Island.
ORLANDO-The former Trammell Crow Co. and Pizzuti Realty Inc. professional has sold $600 million worth of product for institutional investors in his career to date.
WALNUT CRREK, CA-Redwood City, CA-based Electronic Arts renews its lease for 42,398 sf on the 6th floor of the California Plaza office building here and takes another 36,834 sf on the 7th floor in a eight-year deal worth $28 million.
WASHINGTON, DC-The Federal Reserve's decision to cut interest rates by a half of a percentage point could help bolster the commercial real estate market, according to an analyst.
PURCHASE-Fano Securities, an investment banking firm, is nearly doubling the size of its operation in the region and will move across the border from Greenwich, CT into New York State.
LOS ANGELES-An 11,600-sf Burbank office building has been sold to a company that specializes in transcriptions and translations, as a recent report says that the Tri-Cities office market has experienced a negative net absorption of 400,368 sf in the first quarter.
MANSFIELD, MA-TJX Cos., the Framingham, MA-based retailer, takes 140,000 sf in industrial space left behind by Smarterkids.com. The dot-com had to move when it merged with a California company.
DALLAS-Manhattan-based RealtyIQ is back in the news. Founder Bruce Weissberg has stepped down as CEO amid takeover talks. Rumor has it that the Octane Alliance is tossing out this lifesaver. As usual, no one's talking until a deal closes.
FORT LAUDERDALE, FL-Delivery of new product in the first quarter, though, pushes overall vacancy rates upward in Broward, Miami-Dade and Palm Beach counties and provides tenants with some short-term leasing opportunities. Fort Lauderdale is 26 miles north of Miami.
PRINCETON, NJ-A range of tenants, from a top financial brokerage to a battery manufacturer, sign on at the 16-building, the class A Carnegie Center, which has the rights to develop another two million sf.