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SEATTLE-The downtown office market in Seattle has finally showed signs of stabilization, according to Cushman & Wakefield's preliminary second quarter report, possibly due to a decrease in office rents and increase in demand.
BALTIMORE, MD-Investment company T. Rowe Price Associates Inc. decides to part with its property management firm of 12 years, Colliers Pinkard, and replaces it with Jones Lang LaSalle. The new management will oversee a 1.2 million-sf portfolio.
SAN DIEGO-A newly released report ranks this county's economy among the top 10 in the nation. San Diego came in 9th, behind the Silicon Valley, Boston, San Francisco, Minneapolis, Raleigh and Austin
SAN JOSE-The affordable housing crunch continues throughout the United States, as many affordable housing developers switch to market rates when their contracts expire. One San Jose development was acquired and renovated in an attempt to remain affordable.
SEATTLE-Should a local developer be allowed to apply unused, expired expansion credits to a new development at a different location? The Seattle City Council voted in favor of developer Richard Hedreen's request.
MIAMI-The former co-founder of Southern Systems Inc. is searching for tenants to fill Millennium Partners' 220,000-sf of office at the Four Seasons Hotel and Tower on Brickell Avenue and for buyers to develop the 75-acre, mixed-use Rockefeller Group Corporate Park in Miramar, FL, Broward County.
SACRAMENTO-A local businessman has invested millions of dollars into acquiring and renovating a family entertainment center and hopes that he can open a dealership for adult toys, as well.
WASHINGTON, DC-Julien J. Studley's National Law Firm Benchmark Survey finds law firms taking on less and less office space, thereby cutting back enormously on their second-largest expense--real estate.
PHILADELPHIA-New York-based W. P. Carey & Co. provides Allentown Business School with $18.5 million for a new facility in Center Valley, PA, under a sale-leaseback arrangement. Minneapolis-based Mortenson Development will build the 95,000-sf building, set for completion in June 2003.