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HOUSTON-Hines says there are unique components to an initiative for Web sites for each property's management, leasing, scheduling of shared amenities and security. The program is at least one-fifth the cost of individual Web sites.
BILLERICA, MA- Aastra Telecom, US signs takes 45,000 sf at 8 Federal St. under a five-year lease. The 80,000-sf building was acquired by Berwind Property Group Ltd last June from Nortel Networks and has no other tenants.
PHOENIX-A RREEF Funds partnership takes the deed from BR Birtcher of California, an investment group that is taking its capital to the homeport. The seller parts with the 124,251-sf asset after just four years.
DENVER-Single-family home prices continue to rise as investors look for safer havens than the stock market, but multifamily condominiums sell for an average of $167,798, down from the record $171,200 in June.
WILMINGTON, MA-General Eastern Industries leases 58,345 sf at 500 Research Dr. The company, a subsidiary of GE Industrial, is relocating from a smaller space in Woburn, MA.
CHICAGO-The largest Downtown office lease this year, a deal in the neighborhood of $70 million, takes 211,000 sf of space at the old Quaker Tower off the market. Occupancy is back up to 81% when two moves are taken into account.
LONDON-Credit Suisse Property Investment Management has bought one of Reading's prime investment properties. St Mary's House, 75/ 76 Broad Street, Reading has been acquired from Allied London Properties.
AUSTIN-Chick Packaging is the first tenant for a one-year-old building at the Business Center @ TechRidge. The long-term lease takes effect today. It's admittedly slow in Austin, but a TechRidge broker says more closings are coming this month.
PHOENIX-Price Kong & Co. will exit East Osborn Road and head to Country Club Manor. The Phoenix accounting firm takes 12,782 sf in a deal structured by brokers from Insignia/ESG and Cushman & Wakefield of Arizona.
ROUND ROCK, TX-The move is over and the machines are running despite the just-announced sublease pact between Advanced Machining Technology and Mikron. AMT has the Lamar Drive space for the next three years.