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PHILADELPHIA-Aventis Behring, the Germany-based global supplier of plasma products, expands its US headquarters at the Maschellmac Office Complex owned by King of Prussia, PA-based Brandywine Realty Trust.
ATLANTA-Grocery-anchored neighborhood centers in metro Atlanta continue to be in high demand, with average multi-tenant space selling for $92 per sf, although a dozen deals this year have gone for over $150 per sf, according to a new Marcus & Millichap study.
AUSTIN-The latest numbers look better than they actually are, says an executive with the Austin Hotel-Motel Association. RevPAR is up 5.8%, occupancy rose 1.3% and the average room rate went up 3.5%. Still, there's no cause to celebrate.
NEWTON, MA-HRPT Properties Trust, a locally based real estate investment trust, prices its $200-million bond offering with 6.5% notes. The firm is earmarking net proceeds from the offering to pare down debt on its facility.
NEW YORK CITY-The United States Golf Association is now the proud owner of a piece of New York history. Plans for the four-story 57th Street building include a dining room and golf museum, slated to open in 2004.
ORANGE COUNTY, CA-Retail properties will continue to perform solidly here in 2003, says a new report, and shopping centers continue to grow in popularity with investors. The report says the best performing market is central Orange County.
PHILADELPHIA-Despite the downsizing of many major Lehigh Valley office tenants during first-half 2002, much of the sublease space was absorbed in third quarter. The vacancy rate dipped from 16% to 15.68%, according to research from Trammell Crow's local office.
SEATTLE-The locally-based specialty retailer says it intends to concentrate on its core business and divest itself of money-losing retail shops. Current plans are to be out of most, or all locations, by early March.
CHICAGO-Boston-based K Capital Partners, LLC says Prime Group Realty Trust's management team needs to move faster on a sale of the large chunk of its assets, or a sale of the entire REIT.
WASHINGTON, DC-The District of Columbia Housing Finance Agency closes on $8.2 million in tax-exempt mortgage revenue bonds to benefit the development of affordable-housing community Henson Ridge. The 600-unit apartment and townhouse complex will offer rentals, as well as homes for sale.