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ATLANTA-Third-quarter data shows a positive increase in absorption, yet 2002 is "the worst year in absorption since we began tracking office market data in 1987," Richard E. Bowers, president, Richard Bowers & Co., says in a new market report.
TUSTIN, CA-Charles Dunn Equities buys the 117,805-sf R&D property from Voit Development Co. of Woodland Hills, Calif. for $11.575 million. For the past 15 years, the Tustin facility has served as the corporate headquarters for Toshiba America Medical Systems.
PHILADELPHIA-The home-grown grocery chain buys 3.5 acres at the 86-acre former Quartermaster Depot. This gives Philadelphia Industrial Development Corp.'s plans to convert the excess military asset to retail a big boost and
PORTLAND-Trouble in the office and multifamily sectors outweighs a great retail market and a so-so industrial market, according to a third quarter analysis by Moody's Investor Service, which assigned Portland the nation's third worst combined score.
PASADENA, CA-Physicians Associates of the Greater San Gabriel Valley signs a seven-year lease for a 28,105-sf extension and expansion of its facilities on South Los Robles Avenue. The company will occupy the third and fourth floors of the building.
FAIRFAX, VA-The newest building in Willow Oaks office Park, Willow Oaks III, gets its first tenant as Verizon commits to 41,000 sf. Equient, a Veridian business unit, will begin occupying the space on the sixth and seventh floors in December under a seven-year lease.
LAKEWOOD, CO-The Newton, MA-based REIT acquires the 213,000-sf, three-building asset, 100%-leased to the US Bureau of Reclamation, for $28.75 million from the Archon Group. The tenant is attractive to HRPT, which makes a habit of buying government-occupied properties.
CHICAGO-A 126-unit multifamily rental building, with 26 units set aside for senior citizens earning less than 80% of the area median income, and 72 condominium units are slated for 67th Street and Cicero Avenue.
MORENO VALLEY, CA-A private investor acquires the 225-unit, 29-year-old Grand Meadows Apartments in this Riverside County suburb from another private investor. The complex was approximately 95% occupied at the time of sale.