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SEATTLE, WA-A report released this week by one major brokerage firm paints a picture of continued difficulty in the Puget Sound office market until possibly 2003 when job growth might bring back demand for office space.
PORTLAND-With significant leasing work in the building's near-term future, a Florida-based LLC is looking to unload the 109,000-sf Jantzen Park office complex near Interstate 84 in Northeast Portland. Adidas America, though signed on for 70,000-sf in the building until 2005, is preparing to relocate to its new headquarters in North Portland.
ATLANTA-The $15.18 million addition at Enterchange at Walthall industrial park in Richmond, VA's Chesterfield County will comprise two buildings totaling 219,000 sf and a third 287,000-sf structure, all speculatively built.
SAN DIEGO-In the latest of a series of office expansions or relocations by law firms in the county, Belsky & Associates has signed a 62-month lease for 5,413 sf of office space at 591 Camino de la Reina in the Mission Valley Financial Center.
SAN ANTONIO-The state's fourth-largest city has caught up to its big sisters. Class A rent is slipping, vacancy is rising and tenants are reaping the benefits. But, it's most likely temporary since construction is at a bare minimum.
NORWELL, MA-Collecto, a debt collections company, leases 23,100-sf at 700 Longwater Dr. in Assinippi Park, a 73,000-sf building. The broker involved in the deal tells GlobeSt.com that the lease is indicative of a strengthening local office market.
LOS ANGELES-Westfield America acquires nine regional shopping centers totaling 9.7 million sf (gross leasable) for $41 million in cash, $210 million in equity and $505 million of mortgage debt.