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PHOENIX-Lincoln Property has rolled out the "welcome" sign for a four-building, first phase to its Phoenix inroad. Two tenants are ready to sign, including one who plans to consolidate its area operations into a single address.
DALLAS-Devon Properties renegotiates the terms for two Houston buildings under PM Realty's control and rolls them into a leasing assignment for 10 more office properties in Dallas, Denver and Tampa. C&W and Insignia/ESG lose in the shuffle.
ELMSFORD, NY-Officials with Mack-Cali Realty Corp. report that it completed 312,360 sf of lease deals at its New York and Connecticut commercial properties in the second quarter of this year, which was 7.8% higher than last year's performance.
CHICAGO-Jones Lang LaSalle's survey of 50 corporate clients also find most are not fleeing Central Business Districts and high-rise trophy office buildings, as was widely predicted in the wake of the terrorist attacks.
PARSIPPANY, NJ-Gristede's, which lost out on its bid to buy Kings Supermarkets as its market entrie, says it is currently negotiating for sites here and in four other locations.
BALTIMORE, MD-Sierra Military Health Services Inc. becomes the second tenant in the new $50 million building at 750 East Pratt. Joining building occupant Constellation Energy Group Inc., the health organization takes on a 10-year lease of 20,000 sf in the 325,000-sf high-rise.
ATLANTA-In the wake of accounting scandals, a survey by locally based CoreNet Global found that 30% of corporate real estate executives and asset managers will stop or reconsider using "synthetic" leases that take company property off the balance sheet.
CHICAGO-Menahem Deitcher, who has overseen the lease-up of the redeveloped 175 W. Jackson Blvd. to 85% occupancy, leaves the company that owns the Central Loop asset to become a senior vice president with CB Richard Ellis.
PHILADELPHIA-Husband-and-wife owners of three area restaurants buy the 222-seat former Bobby's Seafood Restaurant on West Chester Pike between the city and West Chester, PA. They plan to open Teikoku, an upscale Japanese-Thai eatery with a tea-garden setting.
ATLANTA-The 126,619-sf retail center, off I-75 in Byron, GA near Macon, sells for $2.35 million. The buyer of the 68%-leased, 14-year-old mall, Peach Festival Outlet LLC, sees opportunity in the adjacency of Robins Air Force Base. Tenants include Levi and Dress Barn.