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NEW YORK CITY-The Germany-based global bank will run its US operations from a 25,000-sf space in the former IBM building. New trading floors, data rooms and offices under construction.
BRIGHTON, CO-The Bromley Town Center, a retail and office property in north suburban Denver, has scored its first tenant with the coming of a Valley Bank & Trust branch.
PHILADELPHIA-Although the availability rate of industrial space in Columbus, OH, fell slightly in third quarter, at 12.5% it remains the highest in five years. New construction is being pushed well into 2003, according to researchers at CB Richard Ellis.
BOULDER, CO-It's a good news, bad news story. GE Access, the largest employer on the Pearl Street Mall, in the heart of Boulder, is leaving for the nearby suburb of Westminster.
CHICAGO-In a recent conference call to Equity investors, Sam Zell, chairman of Equity Office Properties, offered his opinion that the U.S. economy is indeed on the mend, and that the office sector will recover as well, albeit slowly.
LONDON-Publishing magnate John Madejski has invested in a pounds 130 million ($200 million) portfolio through his property arm Sackville Properties, with loan finance from Lloyds TSB Bank.
MIDLAND, TX-The "no minimum, no reserve" auction gets bumped back a week but will still be held at the Hilton in Midland. The offering is a four-building, 603,608-sf portfolio owned by Las Vegas casino owner, Ralph Engelstad, who's been looking for a seller for some time.
SCOTTSDALE, AZ-The Westar project is fetching $170 per sf for office condo pre-sales, which have claimed two of four buildings. The appeal, says a broker, is getting equity in a combo office and retail project. Ground breaks in 2003.
LONG GROVE, IL-Kemper Insurance has sold a large parcel of excess vacant land in north suburban Chicago to a partnership that wants to prepare it for sale to residential developers.
RANCHO MIRAGE, CA-Developer J.H. Snyder Co. obtains $41-million construction take-out loan for the recently completed, 240,000-sf retail and entertainment center. The lender was Sonnenblick-Eichner Co.