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DALLAS-The Dallas threat comes to a submarket that WorldCom helped to build. Insiders say the local stake is 1.5 million sf, most of it sitting in 12 buildings in the Telecom Corridor, where vacancy is at least 25.1%.
SEATTLE-Two Seattle companies have joined forces to appeal to small and mid-size businesses in the Seattle area. Officespace.com and SpaceLease.com will now offer tenants leasing information on properties under 3,000-sf.
LONDON-Abacus Developments has sold the St Andrew's Retail park in Birmingham to clients of Legal & General. The scheme is anchored by Big W and a Morrison's foodstore.
SAN DIEGO-Mitek Systems Inc. makes three-year, $1.28-million commitment for space in Parkway Centre. Architect who designed Sunroad Corporate Centre III, Brian Paul & Associates, inks $1-million deal for space in his own creation.
MIAMI-Stiles Construction Co. of Fort Lauderdale, FL plans to break ground in October on the $3.1 million, 22,500-sf sales and service center on a two-acre site in the nine-building Center Port Industrial Park in Pompano Beach, FL. Completion is slated for August 2003.
NEW YORK CITY-Glenn Markman, a perennial top producer at Grubb & Ellis, has left the firm where he launched his career to accept an executive director post at Cushman & Wakefield.
ONTARIO, CA-The company wraps up a $25-million recapitalization involving its ownership of the 211,898-sf Ontario Gateway retail center. The new funds will be used to develop as much as 30,000 sf of additional retail space at the 23-acre Ontario site.
MIAMI-The regional manager of the Encino, CA-based brokerage's six-year-old South Florida division in Fort Lauderdale, FL was the firm's regional manager of the year in 2001. M&M's gross revenue in the tri-county area has increased 40% annually.
CLEAR LAKE, TX-Alamo Title signs a new contract to change its positioning in 1331 Gemini St., an 88%-occupied office building in the Clear Lake/NASA submarket. The signing caps a round of talks between PM Realty and Cawley.
ONTARIO, CA-A Pasadena-based investment group purchases a 27,743-sf industrial building in Ontario. Built in 1987, the freestanding building is fully occupied.