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BETHESDA, MD-Making plans for a 450,000-sf speculative office project, Opus East LLC purchases a 20-acre parcel of land in Rock Spring Park. The property, which is developable up to 876,000 sf, has a current assessed value of $11.5 million.
VININGS, GA-Nissan North America, a sales, marketing and operational unit of Japan's Nissan Motor Co., is moving its 55 employees to this Atlanta suburb from Jacksonville, FL where its Southeast operations have been based for 30 years.
FAIRVIEW TWP., PA-Ground has broken for a speculative 705,000-sf warehouse/distribution facility, which Liberty Property Trust will purchase on completion. It will also JV with Equilibrium Equities to own and develop the park's remaining 88 acres.
WALTHAM, MA-Brainshark leases 11,525 sf at 51 Sawyer Rd. The company, a developer of business communication solutions, is subleasing the space from Lifeplans. The six-story, 152,000-sf office building is located within University Office Park.
CHICAGO-The downturn in US office markets results in more class A assets with high vacancy rates that can be acquired at a price below replacement cost, the largest US office REIT notes.
DENVER-The two-paragraph note from the US General Services Administration didn't mention it, but Opus Northwest LLC built a 120,000-sf building in Lakewood for the Department of Transportation according to Leadership in Energy and Environmental Design guidelines.
BEDFORD, MA-Opta Foods Ingredients Inc. sells 25 Wiggins Ave. to Toxikon Corp. for $4.8 million. Opta Foods previously fully occupied the building and will now share the space with the new owner.
MIAMI-Net absorption showed a great improvement in the second quarter and the first half of the year, recently released market reports show. Net absorption was 245,000 sf in the quarter, up from negative 53,600 sf this time last year, Grubb & Ellis states.
DALLAS-Mike Silliman is working his last week at Crescent and readying for the job as sidekick to Maguire's partner in Dallas. The immediate challenge is a 400,000-sf, class A block in the 900-acre Solana, with 300 available for development over the long term.
CORAL GABLES, FL-Fleming's Prime Steakhouse & Wine Bar plans to open at the new 2525 Ponce de Leon building here by the end of the year, taking 8,659 sf of ground-floor space in the 250,000-sf, class A office building. The building is scheduled to open in August.