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SAN ANTONIO-There are strong signs that the industrial sector is ready to climb, says Grubb & Ellis. Citywide vacancy dropped to 17.1% from 18.1%. As for rent, warehouse distribution rose and flex dipped.
DENVER-Chip Clarke, 39, has overseen the Mountain region for Transwestern Commercial Services, having opened offices for the company here as well as Salt Lake City. He now oversees a Southwest region and a 7.5-million-sf portfolio.
MIAMI-New construction has shut down with only 134,403 sf in the pipeline as vacancies increase by 4.4%, according to a second-quarter study by Cushman & Wakefield of Florida Inc.
ORLANDO-The 10-year Treasury bond is down to 4.41%, a number that translates to interest rates for developers/owners of 5.91% to 6.31% for a 10-year loan, Christopher Larkin, senior associate, R.J. Twitty & Co. II, Orlando, tells GlobeSt.com.
HOUSTON-Dominion Steel Specialties has picked a single-tenant building at 5978 Armour Dr. in Houston, where it will distribute and store imported wire binding for its shipping industry customers.
WOODBURN, OR-The buying group, JLR LLC, includes Larry Bruce, owner of Silverton, Ore.-based Bruce Packing Co., which will apparently be leasing all or part of the purchased property. The deal included 80 acres of agricultural land and a 75-acre food processing plant containing several industrial buildings totaling 390,000 sf.
SANTA ANA, CA-The Fortune 500 company reports that revenues have jumped 18% from one year ago, rising from $928 million for the second quarter of 2001 to $1.09 billion for this year's second quarter.
WASHINGTON, DC-New York-based Insignia/ESG leaps into real estate financing with the newly established Finance and Capital Markets Group. The firm has tapped its 15-year industry veteran Paul C. Dougherty to serve as the group's national director.
BALTIMORE, MD-Prime Retail Inc. disposes of the Bridge Properties, six outlets in six states accounting for 1.3 million sf of retail space, in a $118.7 million sale to a joint venture.
DES PLAINES, IL-The Oak Brook, IL-based REIT pays $67 per sf for 1111 E. Touhy Ave., a 93%-occupied office building along the Northwest Tollway five minutes from O'Hare International Airport. Going-in capitalization rate is 13.1%, the REIT says.