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ARLINGTON, VA-Ownership of One Verizon Plaza, the 353,000-sf building formerly knows as One Bell Atlantic Plaza, changes hands in a $65 million deal. Owner Carlyle Group sells the 19-year-old property to RREEF Funds just four years after acquiring the structure for $55 million.
PHILADELPHIA-The 15-building complex on 135 acres in Lester, PA in Delaware County, consists of 1.9 million sf of manufacturing, warehouse and office space. Adjacent to the Philadelphia International Airport, off I 95, it can accommodate an additional 755,000 sf.
MILPITAS, CA-Palm and its subsidiary PalmSource resided together at 3Com's Santa Clara campus. Now, the companies will show their separate identities when they move to new headquarters in Milpitas and Sunnyvale.
WASHINGTON, DC-Law firm O'Melveny & Myers joins ULLICO Inc. as an anchor tenant in the 383,000-sf structure currently going up at 1625 Eye St. The legal organization will leave its current space at 555 13th St for its new digs in mid-2003.
DENVER-Brian Watson and Natasha Felten convince Benjamin Moore to sell them surplus, non-strategic real estate, including a historic building near Coors Field that most likely will become loft residential units.
LOS ANGELES, CA-Despite continued negative absorption, CB's Lewis Horne, senior managing director of the Los Angeles region, notes that suburban office markets during the second quarter "lent credence to the belief that the market may be heading toward the road to recovery.
ATLANTA-Demand for new office space in Atlanta's metropolitan statistical area will lag until 2003, predicts Todd Jeska, research manager of the local office of Encino, CA-based Marcus & Millichap Real Estate Investment Brokerage Co.
LONDON-Cancer Research UK, the charity formed as a result of a merger between the Imperial Cancer Research Fund and the Cancer Research Campaign, has bought a freehold Midtown office building at 42 Kingsway, London WC2.
RENTON, WA-According to Colliers International, the South County office market is slow and steady, but may be hit with waves when leases in Boeing buildings expire this year.
ORLANDO-No matter what price he is offered, Dino Paspalakis vows he will keep his three 40-year-old arcades on an estimated two oceanfront acres in his family. The city can't redevelop a decaying Main Street Pier area without the properties and may have a court resolve the issue.