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BURBANK, CA-In separate deals, an owner-user acquires a 16,786-sf industrial property here, while another buys a 15,040-sf Pasadena building for $1.35 million.
FORT LAUDERDALE, FL-The company is developing the multi-building Las Olas River House condominium tower project next door with Richard D. Zipes. The lease is valued at about $500,000.
GRAND PRAIRIE, TX-Premium Impressions gets comfortable in 11,000 sf in Grand Prairie in a relocation that doubles its space. In Dallas, spice giant McCormick expands its long-term lease and takes over an entire 106,200-sf building.
NEW DEHLI, INDIA-Heeding its clients' interest in tapping India's English-speaking, highly educated workforce, the international corporate real estate advisor forms an exclusive partnership with a New Dehli-based real estate services company.
LONDON-Rents on commercial property are expected to fall by 1.2% this year, according to new research by RICS. Subdued business confidence means many occupiers are delaying expansion and relocation plans.
RED BANK, NJ-Hovnanian Enterprises, one of the country's fastest-growing residential developers will move its home base to a new 65,200-sf building on this city's riverfront.
BOSTON-The city is prepared to loan three large hotel projects a total of $40 million through Department of Housing and Urban Development to ensure that they get off the ground.
UNIVERSITY PARK, IL-Continental Refrigerated Services will take all but 50,000 sf of a 262,470-sf build-to-suit on 30 acres owned by TCB Development at Steunkel Road and Central Avenue.
LOS ANGELES-Publicly held Electronic Arts, one of the world's biggest video game designers, takes the entire 250,000-sf project. Lease terms aren't disclosed, but it's believed to be a $100 million deal.
SEATTLE-Comparing the first half of 2003 to the first half of 2002: same-store NOI decreased 0.4% to $77.5 million; diluted FFO per share increased 4.8% to $1.31; and net income decreased 10.6% to $24.6 million.