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SEATTLE-According to the Cushman & Wakefield report, sellers continued to benefit from the lowest cap rate in 20 years. The average cap rate for 2000 was 7.53%, a drop of 27 basis points since 1999.
STAMFORD-Renovations to the building, scheduled to be completed by the end of the year, should transform it into a class A property. Its 80,000 sf of available space is the largest continuous block of office space in the Bridgeport market.
PHOENIX-A 200,000-sf industrial campus in rapidly growing area of Glendale has been purchased by a local investor. The area is one of the tightest industrial market's in the Valley, with an vacancy rate of about 4.5%.
LOS ANGELES-The Downtown office market's vacancy level decreased by 1.28% in the first quarter, and now leads the county with a net absorption of 285,896 sf, according to a new report by LA-based Cushman Realty Corp.
NEW YORK CITY-With speculation already running high that Cushman & Wakefield and Cushman Realty are talking merger, the announcement of an official C&W press conference has led many to believe it's a done deal.
NEW YORK CITY-With speculation already running high that Cushman & Wakefield and Cushman Realty are talking merger, the announcement of an official C&W press conference has led many to believe it's a done deal.
MIAMI LAKES, FL-The subsidiary of Cordis Corp., a Johnson & Johnson company, renews its lease on 29,400 sf and adds another 29,755 sf to its R&D and warehouse-distribution operation in this suburb, 11 miles north of Miami.
GLENDALE HEIGHTS, IL-Graybar Electric Co. signs a two-year lease for 27,000 sf at 800-850 Regency Drive here while Material Handling Services signs a five-year lease for 8,256 sf at 1700 W. Hawthorne Lane in West Chicago.
HOUSTON-A Houston investor has acquired a 9,792-sf building near Sharpstown Mall, where plans are afoot to open a cosmetology school. There's a growing trend to buy instead of lease commercial sites in the small office market.
IRVINE, CA-The latest numbers released by Cushman Realty show that net absorption of class A and B office space turned negative, while vacancy rates rose due to companies feeling the pinch.