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CUPERTINO, CA-The home of the San Jose Sharks is being renamed as a result of the HP-Compaq merger. It became Compaq Center in October following a $47 million, 15-year sponsorship deal.
CHICAGO-At 95.6%, Trizec Properties, Inc.'s 5.9-million-sf Chicago portfolio boasts an occupancy rate at least six percentage points better than U.S. Equities Realty's most recently estimate for the Central Business District.
ATLANTA-The 65-year-old doughtnut maker has awarded development rights to three entrepreneurs in Lubbock, Amarillo and El Paso, TX; and two other undetermined sites.
EVERETT, WA-Wayne Laxson with Windermere's commercial division tells GlobeSt.com the Northend submarket of Everett isn't exactly up to its neck in tenants on the hunt for space. And for those who are, pickings are slim.
LONDON-The Prudential is to sell off the final phase of its Knightsbridge Green project in central London. It is looking for offers for the prominent site opposite Harrods through Jones Lang LaSalle and FPDSavills.
DENVER-Lower gains on sales of its multifamily properties in non-core markets such as Minneapolis, Clearwater, FL, and Salt Lake City result in a 44% drop in earnings. The local REIT fared best in Washington, D.C. and Southern California.
PHOENIX-This time, it's Marcus & Millichap saying the metro market has far more product than demand. Vacancy is pushing 19%, with forecasters saying it will reach 21%. No change is predicted until early 2003.
CHICAGO-A four-building complex in the Beverly neighborhood sells for $48,000 per unit while a smaller building in a western suburb trades at nearly $67,000 per unit after spending 26 days on the market.
ATLANTA-The locally based REIT booked net income of $14.2 million or 38 cents per diluted share versus $19.9 million or 51 cents in the comparable 2001 quarter. Company president David P. Stockert succeeds Post's founder/chairman John A. Williams as CEO July 1.