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HOUSTON-Citywide vacancy is 18.2% and negative absorption's 315,021 sf, a market barometer that's practically evenly split between the CBD and the suburbs. One of the biggest challenges is the energy industry's control of 37% of the CBD office space.
WHEATON, MD-Plans for The Montgomery at Wheaton Metro multifamily complex move full steam ahead with the recent groundbreaking on the 243-unit luxury property. Developers are spending $33 million to construct the apartment project, which is due to be completed next spring.
ATLANTA-Unanchored strip centers continue to be a hot commodity among cost-savvy investors, as the sale of the newly constructed, 31,500-sf property in suburban Stockbridge, GA by Crotts Enterprises to Network 21 Neighborhood Centers indicates.
TAMPA, FL-The London-based container shipping company decides to remain in Downtown Tampa at TIAA-CREF's 36-story tower for another three years at an estimated aggregate rent of $9.7 million. The lease is the largest class A office deal this year in west Central Florida.
RANCHO DOMINGUEZ, CA-A wood products firm buys a 91,000-sf structure for $3.5 million and a transportation firm acquires a 37,276-sf building for $2.1 million in a dual industrial trade in Rancho Dominguez.
ANAHEIM, CA-The buyer gets a value-added deal while the seller will switch to a retail investment to escape the management burden of an apartment complex. About $50,000 to $75,000 will go to upgrades to collect on the upside room in the below-market rent.
ANAHEIM, CA-Summit Career College becomes the first tenant at the Anaheim Campus of Higher Education, taking 14,157 sf for seven years for its first satellite campus and filling two floors of a 10-floor adaptive reuse project.
WHEATON, MD-Plans for The Montgomery at Wheaton Metro multifamily complex move full steam ahead with the recent groundbreaking on the 243-unit luxury property. Developers are spending $33 million to construct the apartment project, which is due to be completed next spring.
LONDON-Formula One motor racing tycoon Bernie Ecclestone has emerged as a major financial backer for the pounds 550 million ($880 million) Tchenguiz bid for the Selfridges department store chain.