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DALLAS-Vacancy overall is 24.8% or 25.8%, depending on who's doing the counting. Giveaways are up. Rent dipped, just not by as much. And, the Dallas CBD is no longer the engine for rising negative absorption, now up to 1.6 million sf.
TARRYTOWN, NY-Recurring themes that came out of the first Lower Hudson Valley Regional Biotechnology Conference held here on Friday included the need for regional cooperation and significantly more financial assistance from New York State to attract and retain biotech firms.
BROOMFIELD, CO-A subsidiary of Charter Municipal Mortgage Acceptance Co. writes a five-year mortgage at 5.815% at a 49% loan-to-value on the 90-unit garden-style multifamily rental complex.
SUGAR LAND, TX-A group of Houston-area investors buy a 4,860-sf tract in Imperial Sugar's homeport of Sugar Land. The asset shuffling brings the addition of 100 acres in Florida and a 65,000-sf warehouse in Indianapolis.
BOSTON-The Boston Redevelopment Authority comes up with some changes for the proposed Chinatown residential development proposed. The changes involve a reduction in the number of units, parking spaces and relocating the building.
NEW YORK CITY-If you can't buy them, copy them. Just a month after CB Richard Ellis' failed attempt to buy Grubb & Ellis, it is in serious discussions with a handful of ex-Arthur Andersen real estate people about beefing up its corporate consultancy, sources say. CBRE remains mum on the subject.
ORLANDO-The 20-year, 160,000-sf International Drive shopping center is the first local big-name retail casualty to formally file for protection from creditors this year under Chapter 11 of the U.S. Bankruptcy Code.
ATLANTA-Turner Properties opens a six-story operations center and a five-story administration building in its six-building complex at Turner Broadcasting System's Techwood Campus in Midtown Atlanta, signaling that Atlanta remains the hub of AOL Time Warner's locally based-TBS.
LONDON-Jones Lang LaSalle Hotels latest hotel report "Hotel Sale-Leaseback Transactions" shows that European investors are flying in the face of analyst scepticism.