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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.
MIAMI-Blue Capital U.S. East Coast Real Estate LP purchased the 47-story skyscraper here for $148.48 per sf. The seller was a partnership of the California Public Employees' Retirement System and Hines. Hines will be the project's property manager and leasing agent.
CHICAGO-Three buildings under construction or in the early planning stages have significant pre-leasing and anchor tenants, but it comes at the expense of older properties in a Downtown market that has suffered from job losses, professionals at RealShare Chicago noted.
CHICAGO-Three buildings under construction or in the early planning stages have significant pre-leasing and anchor tenants, but it comes at the expense of older properties in a Downtown market that has suffered from job losses, professionals at RealShare Chicago noted.
SAN FRANCISCO-Virtual Premise, a real estate software maker that has made a name for itself in the corporate sector, will take ASI's popular Lotus Notes-based applications for the commercial real estate market and convert them into a Web-based product.
CHICAGO-The pool of potential anchor tenants is drying up quickly, brokers on a Chicago Real Estate Organization panel suggest. Still, buildings that lost tenants to anchor newer projects are left with challenges.
DALLAS-Cornerstone Real Estate Advisers does the buying. Archon Group does the selling. And no one's talking except those on the street about the long-awaited sale of the 395,910-sf, class A office tower along North Central Expressway.
SCHAUMBURG, IL-Not only does the pharmaceutical company extend its lease term at the Woodfield Corporate Center, it also adds 20,000 sf within Hines Interests' 117,200-sf building.