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HOUSTON-The city's CBD is riding high on a development wave. The energy industry, empty nesters and companies seeking in-town advantages are behind the boom. In the past five years, rents have jumped as much as $12 per sf.
COPPELL, TX-No one's talking about how much Teachers Insurance and Annuity Association has paid for the premier 735,000-sf Park West Commerce Center. But TIAA has outbid about 20 competitors for the hot property in Coppell.
LYNDHURST, NJ-The class B facility will be redeveloped and repositioned as class A tech space in a submarket, the Meadowlands, that currently has less than a 1% vacancy rate for top-class space.
ANAHEIM, CA-When Power Plus moves into a new building this summer the president plans to take his firm off the power grid altogether. Other large users are looking to this alternative source of power for permanent relief from energy woes.
ANAHEIM, CA-TDK Semiconductor, a division of TDK USA Corp., will move its operation into the new facility by April. The building at 3190 Miraloma Ave. was sold for $12.4 million by Fujitsu Business Communication Systems.
SAN FRANCISCO-Restless after a year of early retirement, James Arce accepts the brokerage company's offer to be asset services director for its San Francisco's office, responsible for the company's 9-million-sf Northern California portfolio.
NEW YORK CITY-Cushman & Wakefield, based here, has become an investment and strategic partner with ePropertyTax according to spokespeople for both companies. C&W will be able to offer the tax management e-product to its own customers.
CHICAGO-The industrial market, booming in some areas of the city, is expected to get even better in the next few years as capital that has helped propel East and West Coast markets discovers the Midwest is a land of opportunity.
HOUSTON-Insignia/ESG has landed a new tenant for Eldridge Place Two, signing J. Ray McDermott Inc., an offshore energy supplier, to 146,768 sf in the class-A office property. The premier property is owned by The Brookdale Group, headquartered in Atlanta.