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AUSTIN-Forgent Networks, which has slashed its Austin head count from 400 to 100, has dumped space on the sublease market for the fourth consecutive year. The latest retreat will save $300,000 per quarter, says the company.
SAN ANTONIO-The extra $2 million invested after Sept. 11 was well spent, with San Antonio's hospitality segment making out better than it did in in the industry's stellar 2000. The outlook for 2003, though, isn't so rosy.
PHILADELPHIA-The Jenkintown, PA-based developer acquires a 177,000-sf industrial building in Philadelphia County from Pasadena, CA-based Avery Dennison for about $19.77 per sf and leases back 40,000 sf. The building is located on Dungan Rd., northeast of Center City.
DENVER-Mayor Wellington E. Webb is saddling the next administration with the task of finding a way to finance construction of a $16-million Justice Center on the site of the Rocky Mountain News building, says candidate Elizabeth Schlosser.
CHULA VISTA, CA-The lessee, Long Beach Automotive, dba Pacific Supply, will occupy 23,000 sf of industrial space at 650 L St. in Chula Vista. It is the most recent industrial user to take space in San Diego County, as the region's industrial market continues to improve.
SAN ANTONIO-Crews have added three floors to a seven-story building constructed in 1900. The work is tedious, but on track for a November 2003 opening to add a 121,000-sf hotel with European-style spa to the River Walk mix.
MOUNTAIN VIEW, CA-The Community School of Music and Arts over the weekend celebrated the start of a 25,000-sf, $11 million music and art campus here on Martens Avenue.
ORLANDO-The Bradenton, FL-based firm, on Florida's southwest coast, has a one-year deal with four renewal options to provide the department with financial and market data on New York City's 930,000 individual properties.
NEW YORK CITY-The partnership will convert the 82,200-sf 260 Park Avenue South and 123,023-sf 48 E. 21st St., both formerly owned and currently leased by the United Federation of Teachers, into a luxury condominium complex joined by a connecting lobby.
MIAMI-The 50-acre, 573,000-sf property in suburban Medley, FL will be the largest refrigerated-freezer storage plant in South Florida when completed in November 2003.