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GREATER BOSTON-While there has been an increase in activity, rising vacancy and availability rates in the city and suburbs demonstrate that building owners in these areas continue to struggle to fill space.
PHILADELPHIA-A comparison of Pennsylvania business taxes in relation to those of other states, conducted by Harrisburg, PA-based Keystone Research Center, disputes business-sponsored studies aimed at reducing state business taxes. KRC recommends holding off a planned phase-out of $1 billion in business taxes.
SAN ANTONIO-Peter Piper Pizza exits to a new location, freeing up 12,200 sf for Rack 'Em Sports Bar. The retail change takes place at the Pleasanton Road Shopping Center near the crossroads of Pleasanton Road and Southwest Military Drive.
EGG HARBOR TWP., NJ-The facility, which will total 100,000 sf in three buildings plus adjoining fields, will be located on a 12-acre site that is currently vacant.
STUART, VA-Elastic product maker Narroflex Inc. opts to remain in its Patrick County facility and will expand and renovate the structure in a $9 million endeavor. The company was considering moving the operation to North Carolina, a move that would have cost the area 245 jobs.
DALLAS-It's time to get serious about finding more land in southern Dallas, says Tal Hicks, president of Hillwood Investment Properties. The newest lease takes Hillwood's open space to 65,625 sf in its Pinnacle Park buildings.
BALTIMORE, MD-Lakewood Apartments, the 393-unit multi-building residential complex in the center of the city, gets refinanced to the tune of $9.7 million. Property owner The Lightstone Group attained the financing package through Deutsche Bank at a 7% interest rate.
PHOENIX-Stanton Industries, headquartered in the Northwest US, takes 78,406 sf in a 200,000-sf warehouse along South 43rd Avenue. The pact, valued at about $1 million, comes with a 55,000-sf expansion option.
SUNNY ISLES BEACH, FL-New York real estate tycoon Donald Trump leant his name to the $600 million Trump Grande Ocean Resort and Residences being developed by Dezer Development for a $4 million fee, but now he's ready to become a full-fledged partner in the project.
PHILADELPHIA-Chatham, NJ-based Garibaldi Group opens an office in Bethlehem, PA to cover the growing Lehigh Valley market. Former associate director of Insignia/ESG's Allentown, PA office, Michael Bartolacci, moves to Garibaldi as vice president in charge of Lehigh Valley initiatives.