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FORT LAUDERDALE, FL-The top five performers with vacancy rate improvements were listed in a recent Torto Wheaton Research study. Fort Lauderdale's office vacancy rate dropped from 19.2% a year ago to 16.6% so far this year, according to TWR.
STOUGHTON, MA-Ikea is determined to get a store built in the state and after years of attempting to do so in Somerville, the Swedish furniture retailer, proposes building a 350,000-sf store on 20 acres just off Route 24.
SAN DIEGO-Voit Rolando Partners LLC, with Voit Development as managing partner, sells the Rolando Plaza Shopping Center retail asset to an entity of SCI Properties. Voit had purchased the center in September 1998 for $4.7 million.
SEATTLE-John Goodman's Triad Development is more than half-way through its $8-million conversion of the 88-year-old OK Hotel in Downtown Seattle's Pioneer Square into an affordable apartment building with ground- and basement studio space for artists.
ELMHURST, NY-More than 50 offers over a two-month period were received on the seven-building portfolio. The 454 apartments sold in an all-cash transaction valued at $57.5 million.
TAKOMA PARK, MD-The financing package for Cedar Crossing, a new residential condominium project with ground-level retail space, is now complete with CIG International LLC's contribution in the form of $1.4 million in mezzanine funding.
BASKING RIDGE, NJ-The pharma giant, which inherited the sprawling campus when it bought Pharmacia, has tapped Cushman & Wakefield to move a major office asset it decided it doesn't need.
HOUSTON-Williams Cos. downsizes to 217,595 sf with a renewal of class A office space in the Galleria submarket. The pact goes into effect in April. The Hines team already is talking with backfill prospects, including another Williams group.
ARLINGTON, VA-The 107,000-sf Quincy Crossing office building gets snapped up by Glenborough Realty Trust for $34 million, or $318 per sf. Quincy Crossing is part of a mixed-use development that includes apartments.