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NEW YORK CITY-The Manhattan real estate market's third quarter proved to be a stable one with an unchanged vacancy rate, according to Cushman and Wakefield execs, who predicted that the fourth quarter will be a busy one.
MINNETONKA, MN-A management firm has been brought onboard to market the 77 Drug Emporium locations around the country. The chain closed under Chapter 11 bankruptcy last month.
GARDEN GROVE, CA-The sale of the asset for more than $166,000 per unit indicates investor appetite for apartments, CBRE brokers say. It is the first time the property has traded hands since it was built in 1987.
LONDON-The latest figures from the Office of National Statistics show that net property investment by UK institutions in Q2 2003 was just pounds 53 million ($88 million), a sharp reduction on the previous quarter's pounds 439 million ($730 million).
PHOENIX-Kinetic Systems unloads the 42,606-sf industrial facility for $1.4 million, but isn't about to move out of the property anytime soon. The sale/leaseback will keep the pipe fabrication firm at 2825 W. Thomas Rd. for another three years or more.
WASHINGTON, DC-Occupants at 1133 Connecticut Ave. welcome a new neighbor, Franklin Templeton Cos. LLC, now that the investment management company has committed to nearly 30,000 sf of space in the 175,000-sf structure.
SUNRISE, FL-Zellweger, based in Switzerland, is using this space as its Americas Business Center. The company's three-year lease is estimated to be worth at least $604,110. Employees are expected to be moved in by the end of the month.
FLINT, MI-An expansion project is now under way at Bishop International Airport that would allow up to three more airlines to serve the increasingly busy airport.
PHOENIX-A project manager, project coordinator and supervisor and materials overseer have joined the Beck Group to assist the development firm handle its growing list of Arizona projects. Together, they bring a combined 40 years of experience to the firm.