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AUSTIN-The CBD and southern submarkets will be the ones to watch when the market starts its recovery, says Holliday Fenoglio Fowler in its latest "White Paper." Rents will remain flat, possibly even backslide, until the calendar turns.
ATLANTA-To fill the post vacated when Charles Elliott was promoted to senior vice president of real estate, locally based Roberts Realty Co. turned to Stephen McAleer, former financial executive of Alpharetta, GA-based Cavanagh Group, a manufacturer of collectibles.
MURRAY HILL, NJ-Another bad quarter, and another 7,000 Lucent staffers will go, with many of those positions disappearing from the telecom equipment providers operations in the Garden State.
LINCOLN, MA-A school beats out the town to acquire a 30-acre parcel on Route 2 being vacated by the Boston Institute for Intercultural Communication. Local officials wanted to build affordable housing on the site.
CHICAGO-Under pressure to make cash distributions, Heartland Partners, L.P. hires Colliers, Bennett & Kahnweiler and Grubb & Ellis to market nearly 10 acres northwest of the Loop once slated for nearly 2,000 multifamily units.
FEDERAL WAY, WA-Quadrant Corp., the Bellevue, Wash.-based real estate arm of Weyerhaeuser, sells the Washington Education Association a 60,000-sf Northlake Building for $9.5 million. The purchase includes a 3.8-acre parcel of land valued at $2.5 million.
ATLANTA-The 10-year loan carries a 7.29% fixed rate and represents a 72.5% loan-to-value ratio on the 1967 property. Under the current owner, locally based Ram Development, occupancy has risen from 65% at the time of purchase in 1999, to 97%.
ORLANDO-Developers are expected to test the legality of the moratorium in a number of planned civil lawsuits, area real estate lawyers tell GlobeSt.com.
GRESHAM, OR-The Gresham City Council accepts a concept plan put together by a citizen steering committee that outlines how Pleasant Valley will be developed and annexed. Planners say development could begin by 2004.