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ARLINGTON, TX-Gary Walker, a well-known area broker, eyes the promise in a 76-year-old building and the challenge to return a historic asset to the tax rolls as an income-producing property after a $1.2-million makeover.
CHICAGO-With 169 management offices now consolidated into 48 and a list of 950 vendors pared to 88, annual costs savings are now projected at more than $75 million beginning in 2004.
DALLAS-Hallwood Realty Partners, owner of 5.2 million sf in six states, has been sparring with Icahn since May 1 when a $160-million offer was labeled as "inadequate." Late last night, Hallwood was working up a response to the latest deal on the table.
LONDON-Housebuilder Wates has become the first tenant at the 38,734-sf Parkland Square speculative office development on the Capability Green business park near Luton, Bedfordshire.
SOMERSET, NJ-The new Associated Title Agency, based at Prudential New Jersey's offices here, is a joint venture with Commonwealth Title-Monmouth Agency.
NEW YORK CITY-Midtown transactions garner brisk competition, but Brookfield Properties head Ric Clark sees increased momentum on Downtown properties. While noting it's still too early to tell, he's "cautiously optimistic" that a recovery is on the way.
LONDON-Office and business park developer Akeler has sold its final remaining two buildings at Quinta da Fonte business park near Lisbon, Portugal, to Siemens for pounds 19.8 million ($32 million).
CAMBRIDGE, MA-Mazu Networks takes 14,000-sf of office space in a sublease deal at 125 CambridgePark Dr. in the CambridgePark office complex. The company doubles the size of its space with this deal.