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WASHINGTON, DC-District office properties continue to prove irresistible attractions and the recent sale of the 265,850-sf 1776 G St. for a whopping $84.75 million or $318.8 per sf backs up that premise.
CHICAGO-Three deals totaling nearly 58,000 sf bring occupancy at 191 N. Wacker Dr. to 75%, while leasing efforts at 123 N. Wacker Dr. have pushed the figure to 88%.
ATLANTA-The joint venture partners decline to disclose the purchase price but area brokers familiar with the Central Perimeter submarket tell GlobeSt.com the contract price for the 288,000-sf Ashford Perimeter building was between $180 and $200 per sf or a total $51 million.
LOUISVILLE, KY-Using New York-based Studley, Louisville-based Stites & Harbison renegotiates its leases in Louisville and Lexington and relocates its Atlanta office in order to lower its rental rates and plan for future expansion.
HOUSTON-PE Service Consulting Engineers corners 4,424 sf at 8303 Southwest Freeway and Gibson-Gruenert, a business law firm, signs for 1,770 sf at Phoenix Tower. The engineers are prepping for an early August move while the other tenant has its keys.
TROY, MI-City will ask residents to sell 11 acres of public property to allow space for a new conference center and hotel. Vote would take place in the next general election in April 2004.
ATLANTA-The good news for property owners is that the 6.4 million sf of available sublease space is expected to decline over the next 12 to 24 months and prices for investment-grade properties are projected to continue rising.
CORAL GABLES, FL-The general contractor for the class A office building here is Hoar Construction of Birmingham, AL. The project, which is set to be completed in the third quarter of 2004, is being developed by Hines.
AUSTIN, TX-This will be the first time in the 28-year-old Bank of America Center's existence that it has been overseen by a company other than Hines. Also redoing the building's lobby and public corridors, Hines has chosen Susman, Tisdale and Gayle, to oversee the design of the Class A office complex.