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PHOENIX-Insiders say about 20 brokers in the Phoenix office are job hunting or have secured jobs with competitors as chief officers and CB Richard Ellis push ahead with merger plans. I/ESG corporate says it's an isolated exodus.
NEW YORK CITY-B&J Fabrics Inc. has found new space in Midtown after being forced out of the building it occupied for more than 45 years. The textile distributor will now set up shop in 15,568-sf at 525 Seventh Ave.
SAN FRANCISCO-If CB Richard Ellis had been successful in getting BT Commercial as well as Insignia/ESG, it would have controlled the leasing assignments for the most vacant space in the city. As it stands, it will be second to CAC Group.
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.
BOSTON-The Massachusetts Bay Transportation Authority's board of directors votes to take 47 acres of the 91-acre parcel in Allston by eminent domain. The property is near some key rail yards, and the MBTA has offered $33.5 million for it.
DENVER-The locally based satellite dish company has bought an empty set of buildings in the southeast corridor, to accommodate an almost unheard-of corporate phenomenon--growth.
CHICAGO-Owners of the Pittsfield Building at 55 E. Washington St. may be the first, but other applications for Class L tax breaks are expected following the designation of two roughly two blocks on Wabash Avenue as a landmark area.
TUALATIN, OR-From elsewhere in the 10-building, 342-000-sf Tualatin business park, HR Answers Inc. and Healthco Information Systems are expanding into the building vacated by US Bank's equipment finance group.
ATLANTA-The Q1 exit of the federal General Services Administration from one million sf helped increase the metro Atlanta net absorption number to a negative 1.18 million sf, marking the eighth consecutive quarter of negative absorption.
FORT LAUDERDALE-The construction loan is through Fidelity Federal Bank & Trust. The $20 million downtown loft condominium project here will feature 107 units on 11 floors and a three-story parking garage.