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LONDON-Land Securities Trillium, the outsourcing subsidiary of Land Securities, has reached an agreement with the Department for Work and Pensions to expand its existing property outsourcing agreement to include the 9 million-sf former Employment Service Estate.
HOUSTON-American Liberty Hospitality re-ups a 4,852-sf office at 10700 Richmond Ave. in the Westchase submarket. The building's five-year tenant shopped and then stopped to sign a medium-term pact.
DALLAS-The Chavez Properties' team exits its first "show and tell" with Dallas' mayor, who extends a Nov. 5 invitation to address council. Led by a Dallas investor, the high-profile group is lobbying for an RFP to advance a convention center HQ hotel project.
SOUTHFIELD, MI-Meadowbrook Insurance Group says it will build a new 160,000-sf building to serve as its headquarters. The company will occupy about half of that space, leasing out the rest.
ORLANDO-The metro area's 28.1-million-sf inventory remains a tenants' market as free rent and other leasing incentives contribute to an improved year-to-date net absorption of 441,838 sf, according to a new report by the local office of Advantis Real Estate Services Co.
HOUSTON-The region's positive absorption and more goods rolling into warehouses for distribution are solid signs that the blackest days are over. The far northwest submarket accounted for 764,000 sf of the good news, according to Grubb & Ellis' Q3 numbers.
ENGLEWOOD, NJ-Eric Kaufman and Avram Holzer have formed Welbilt Realty Partners after two years at the helm of the investment sales and financing team at Colliers ABR in New York.
HOUSTON-The Holt Cos.' local office starts its first speculative project in town, a 128,000-sf office/warehouse on 10.5 acres at 9330 W. Airport Blvd. in the far southwest submarket. The plan, for now, is build and sell once it's stabilized.
FLOWER MOUND, TX-Direct Development places a $26.1-million loan for the 322,376-sf Highlands of Flower Mound rather than grant more time on a "handshake" option with Inland Realty. The ability to grab a sub-6% interest rate accounts for the call.
SHREWSBURY, MA-This would be the second local project for the WBDC, a private nonprofit group created in the late 1960s by the state legislature to create jobs and expand the tax base in the region.