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HOUSTON-The multifamily rental market has been insulated this year from the woes of the depressed economy. Out-of-state interest and slowed construction levels have kept the market healthy and balanced, one study observes.
SAN DIEGO-San Diego fell in the middle of the pack for covered and underground parking among central business districts of major U.S. cities, according to a survey Colliers International.
PALO ALTO, CA-Sun Microsystems sells a 256,000-sf, five-story office building on 12 acres of land to the Jewish community, which plans to make it home to several institutions.
PHILADELPHIA-The oldest African-American-owned and developed shopping center in the US is slated for an upgrade and expansion. King of Prussia, PA-based Kravco's Downtown Works will handle the redevelopment.
EATONTOWN, NJ-Holliday Fenoglio Fowler has arranged acquisition and bridge financing of $5.1 million for Cranberry Commons, a three-building class A office complex totaling 67,371 sf.
PARSIPPANY, NJ-The recent Cendant and NRT transactions, one a renewal and one an expansion, raise Lincoln's 100,000-sf 339 Jefferson Rd. office building to 100% occupancy.
LONDON-A Northern Ireland development company has launched a Pounds 500 million ($780 million) project aimed dramatically shaping the future of Derry city centre in Northern Ireland.
DENVER-Every submarket is feeling the effects of overbuilding and sublease space, though none as bad as the Northwest corridor, which is saddled with a 53% vacancy rate. "Today, 25 office buildings can deliver blocks of space of 100,000 sf or more," Fuller and Co. reports.
WASHINGTON, DC-The new class A building at 601 New Jersey Avenue--a multi-million dollar, 259,000-sf office structure--is now leased to capacity with Medicare Advisory Commission and the Federal Mine Safety Health Review Commission's commitment to the building's last 46,000-sf of space.
DIAMOND BAR, CA-In the second of two recent leases, ADP soaks up 30,492 sf of space here for its tax and financial services division. Martin-Brattrud Properties is the building owner.