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LONDON-London's residential lettings market is lagging behind the rest of the UK, with a surplus of properties on the market continuing to depress rents. But overall residential property is performing well for investors.
FRANKLIN PARK, IL-The 57,400-sf building at 3434 Runge Ave. was formerly owned by Des Plaines-based Maple Leaf Bakery, but is being converted to allow Ready Pac to process fruits and vegetables.
KIRKLAND, WA-Currently leasing a location in Redmond, the growing financial services firm pays $12.5 million for a 59,000-sf, two-story building here that was completed in early 2002 but never been leased or sold.
SYDNEY-The locally based Australian-listed property trust makes its first offshore acquisition, buying an 80% stake in two class A office buildings in Downtown Wilmington, DE, for $90.2 million.
NEW YORK CITY-Cushman & Wakefield has added a retail industry heavy hitter to its lineup. James Rosenfield, president and founder of JS Rosenfield & Co. joins the firm to head up its national retail practice.
LONDON-London's West End remains the most expensive location to set up a new office across major European and Asian cities, despite almost two years of falling rents, according to new research from FPDSavills.
ORLANDO-Colonial Properties Trust plans to break ground in the first quarter on an estimated 60,000-sf, $6-million, 12-screen movie house at its Orlando Fashion Square regional mall, four miles east of another 12-screen theater planned at a $140-million, mixed-use venture Downtown.
MORRIS PLAINS, NJ-Weichert Commercial arranged the deal that moved the facilities into the hands of a private investor. Olympic Industrial Park was the seller.