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AUSTIN-Cousins Properties signs the largest tenant so far for the roster at its 525,000-sf Congress at Fourth, slated to deliver in November. Graves, Dougherty, Hearon & Moody law firm, signing for the long term, takes the pre-leasing level to 27%.
MIAMI-Despite the negative impact from the technology sector, this South Florida city's overall vacancy rate increased less than 1%, according to a year-end office overview by Cushman & Wakefield.
TEMPE, AZ-Champion Wire and Cable, a Westbury, NY wholesaler, is planning a move in April to Broadway Industrial Park for double the area and gain yard storage space for the operation. The 63-month lease is valued at $735,000.
TROY, MI-An acre next to Troy Commons is bought for $545,000. However, developer Stuart Frankel can't build beyond 140,000 sf of retail space on the now larger property due to a consent judgment.
ATLANTA-Locally based Wayne Mason and Emory Morsberger pay a fire-sale price of $9.91 per sf for the former Bank of America operations center at 222 Mitchell St. Owner Dana Commercial Credit initially sought $10 million for the vacant property.
THE WOODLANDS, TX-Trademark, a Fort Worth-based developer, now has 34 acres under its control, with the latest sale rolling in 20 acres in the heart of the Woodlands. The Market Street town center is slated to open in spring 2004.
SEATTLE-The long term fixed rate financing from TIAA pays off the construction loan for the two-building, 222,000-sf development. Competition to arrange financing was very competitive in part due to the property's long term leases with University of Washington and Safeco Insurance Co.
AUSTIN-Third Coast Technologies will relocate from retail space to office/tech at 11002 Metric Blvd. in Austin's north submarket. In making the move, the Richardson, TX-based supplier doubles its office space with a long-term commitment.
PORTLAND-The national retailer of office supplies agrees to acquire a regional distribution building that will be built to its specifications on 20 acres in the Gresham portion of Catellus Development Co.'s 230-acre Southshore Corporate Park.
PHOENIX-Olympic Investors outbids 14 others for the 274-unit Las Brisas apartments, a 94%-occupied complex in Phoenix's prestigious North Central Corridor. Built in 1992, the complex had location and quality as its selling points.