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WASHINGTON, DC-A US Department of the Treasury official goes on record--as does the President, once again--to highlight the devastating economic effect of the absence of terrorism insurance legislation. The Treasury Dept.'s Peter Fisher says the problem is evident when looking at commercial real estate.
MIAMI-Total revenue went down for Koger Equity Inc. from $41.6 millionin the 2001 second quarter to $31.9 million, while FFO went from $17 million to $11 million. The Boca Raton, FL-based real estate investment trust had leasing activity of 324,000 sf for the quarter.
LA MIRADA, CA-A joint venture of New York-based The Praedium Group and the Gale Co. of Irvine sold the three-story, class A office building at 14320 Firestone Blvd. in La Mirada, CA for $6 million.
BURLINGTON, MA-Cognos Inc., the Canadian-based software developer, subleases 68,000 sf from Nokia at 15 Wayside Rd. in Burlington Office Park. The Canadian-based software developer, is using the space to expand its local operations.
SAN JOSE-Barry Swenson Builder will receive the loan-and-grant package from the City of San Jose to help restore two buildings in its Downtown if the company secures a lease agreement with P.F Chang.
PORTLAND-Oregon's unemployment rate has remained in the low 7% range over the last few months. The slight decline was primarily concentrated in the education sector. Gains were seen in the manufacturing sector.
PORTLAND-Oregon's unemployment rate has remained in the low 7% range over the last few months. The slight decline was primarily concentrated in the education sector. Gains were seen in the manufacturing sector.
SEATTLE-The locally based international architecture firm is publicly testing the waters here en route to a new lease commitment of 100,000 sf or more. The lease at its current headquarters in Pioneer Square is up at the end of next year.
NEW YORK CITY-The co-founder of Grubb's Nashville affiliate, Richard Fulton will oversee all transactions in the Northeast, Southeast, Mid-Atlantic and Midwest regions. He replaces Phil Meany, who is leaving to accept a COO position with Virginia-based the Gulick Group.