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DALLAS-It took about six months of talking, but CB Richard Ellis has snatched the top industrial investment sales team in Dallas-Fort Worth. Jack Fraker, Randy Baird and the rest of the seven-member team start today.
SAN ANTONIO-Vacancy rose 5.9% while the average rent citywide dropped for the first time in a decade. The dark cloud hanging overhead this year is SBC's threat to exit 90,000 sf in the CBD, action that would boost the 7.4% vacancy in class A to 12%.
MIAMI-The two transactions, which total $10 million, include two office buildings and a vacant lot, where that buyer is planning to build a 50,000-sf-plus office building and/or restaurant.
LAKE FOREST, CA-Western States Technologies Inc., a Los Angeles-based real estate investment firm, sells 20162 Windrow Dr. to Sole Technology, which intends to occupy the entire 38,000-sf building.
WHITE PLAINS-Despite a troubled economy that has wreaked havoc on most commercial markets in the United States, Insignia/ESG says Westchester County displayed "extraordinary staying power" in 2002 that led to a decline in the county's office availability rate.
SYLMAR, CA-Bedrosians Tile, a 53-year-old retailing chain based in Fresno, CA, pays $7.5 million to Prudential for the showroom and warehouse. Finish-out is under way, with the firm eyeing an April move-in.
WHITE PLAINS-Despite a troubled economy that has wreaked havoc on most commercial markets in the United States, Insignia/ESG says Westchester County displayed "extraordinary staying power" in 2002 that led to a decline in the county's office availability rate.
CHERRY HILL, NJ-The 45-year-old Cherry Hill Towers, long in need of a makeover, will finally get just that-a redevelopment project that will cost almost $45 million.
PHOENIX-Mack Arizona is readying the crew to begin a two-phase industrial project on a tract at the junction of 15th Drive and Rose Garden. Ground will break within two months, with delivery in late summer or early fall.
DETROIT-As the governor's office decides what to cut to balance the budget, the Mackinac Center for Public Policy says public ownership of fairgrounds in upper and lower peninsulas are a waste of resources; the state could do well by selling them.