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ORLANDO-The 80 company members of CORFAC International-Corporate Facilities Advisers Inc., based in Arlington, VA, negotiated 6,294 property transactions valued at $7.6 billion for 210 million sf of commercial office and industrial space in North America last year.
DETROIT-The casino firm changes plans, switching to a 25-acre Detroit Edison site next to the Lodge and I-75 freeways, abandoning a bid for the state-owned Michigan Executive Plaza. Meanwhile, three Downtown casinos await today's city council expansion decision.
MIAMI-Southwest Broward County has a 16.3% vacancy mark while north Broward is the strongest submarket at 6.7% vacancy, according to a second-quarter study by Cushman & Wakefield of Florida Inc.
WALLKILL, NY-In one of the largest deals in Orange County in some time, Wal-Mart reports that it plans to build a $48.5-million, 1.2-million-sf distribution center here.
ANAHEIM, CA-Metal Powder Products Co. unloads the 45,250-sf building in a sale-leaseback deal. Built in 1971, the facility stands on a 121,968-sf parcel at 5500 E. La Palma Ave.
WASHINGTON, DC-The three-decade-old, 100,000-sf building at 1015 18th St. commands a price of $21 million in a deal between buyer Harbor Group International and seller the State of Illinois Pension Fund. The office property is 87% occupied and leases space for about $34-per-sf.
CHICAGO-A $5-million deal with Michael W. Reschke's Prime Group, Inc. gives the entrepreneur another 528,118 shares, putting him near his ownership limit set by retail REIT Horizon Group Properties, Inc.
ORLANDO-The 10-year Treasury bond is down to 4.37%, 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.
NEW YORK CITY-Richard Grasso officially slams the brakes on plans to build a Downtown trading floor across the street from NYSE headquarters. The new plan is to build a second trading floor somewhere outside of Lower Manhattan.
HOUSTON-The Texas-grown real estate firm comes home to Texas after spending six years in the Windy City. The Chicago office, as will the others, remain intact, but Houston once again gets the headquarters. Larry Heard is the new CEO.