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LAS COLINAS, TX-A 12-year tenant stays in the Embassy after coming to an agreement for 12,776 sf of class B office space vacated last year by Fidelity Investments. Rimkus Consulting signs a seven-year lease, adds 5,000 sf and moves to the ninth floor.
PHILADELPHIA-Locally based-Kent & McBride PC, a center city law firm, leases 12,658 sf at One Penn Center @ Suburban Station, a 1929 landmark Art Deco property at 1617 JFK Blvd. Asking rate in the area is about $26 per sf.
LONDON- US pension fund clients of Pricoa Property Investment Management and Hines Air Property have agreed a Pounds 17 million ($25 million) sale & leaseback with technology company Scipher on a 90,000-sf R&D complex at Hayes, near London Heathrow airport.
NORTHBOROUGH, MA-The Gutierrez Co. gets ready to move forward with its plans to develop part of its 562-acre campus. The company insists that the rising vacancy rates in the area will not impact the 2.3-million-sf project, which will be built over the next 10 years.
NEW YORK CITY-The beleaguered accounting firm pulled the plug on its 650,000-sf Times Square Tower lease two months ago. Building owner Boston Properties made the termination official late yesterday afternoon.
LONDON-Helical has raised another Pounds 61 million ($90 million) from the sale of two properties in the City and Midtown, reducing its reliance on central London offices. It now has over Pounds 125 million ($190 million) to reinvest in retail and industrials.
HOUSTON-The financing will build 276 units at 9305 Meldrum Dr. and another 240 at the crossroads of Beechnut and Branham boulevards. Related Capital and Charter Mac put up the construction financing for Florida developers of Houston product.
LAKE TAHOE-After two decades, an ultimate decision has been reached for the Lake Tahoe construction ban lawsuit. The Supreme Court has voted six to three in favor of the Tahoe Regional Planning Agency, which was sued by property owners who had been banned from developing.
BRENTWOOD-Colliers International will handle sales and leasing for the San Creek Business Center, which will feature 139,630-sf of space that companies may either lease or buy with a minimal down payment.
LONDON-Despite a slight fall in take-up, there is little sign of a weakening in the UK's regional office markets according to the latest survey from DTZ.