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ATLANTA-Indicative of the national economy's slowdown, only 47,492 sf of office space was absorbed in the metro Atlanta market during the first quarter, pushing vacancies up. But one locally based firm says a turnaround is expected by year end.
CHANDLER, AZ-Sleep America adds a 4,056-sf retail spot at Chandler Gateway while Hall of Frames signs for 2,455 sf of inline space at the Village of Prescott Gateway. It's the second signing this month for Sleep America.
OAKLAND, CA-The Bay Area commercial real estate market remains active, as seen with two recent purchases in Oakland and Petaluma. Two companies purchased large properties this month.
GRAND PRAIRIE, TX-Marathon Coach, a sales and repair operator for customized tour buses, acquires a 14,105-sf building on four acres in Grand Prairie's corner of the Great Southwest Industrial Park. The sale was mortared in location, location, location.
HOUSTON-Claremont Property will spend about $5 million to totally retrofit the 286-unit Woodland Forest. The repositioning specialist also has a contract out on a 160-unit holding of Alfred J. Antonini, now serving time for a check kiting scheme.
NEW YORK CITY-GlobeSt.com has partnered with the Trump Corp., the residential real estate division of the Trump Organization, to provide quarterly analyses of the luxury condo market in Manhattan. The reports will focus on sales activity of one- to three-bedroom units.
NEW BEDFORD, MA-WP Realty purchases Fieldstone Marketplace, a 188,946-sf retail center at 950 Kings Highway for $15.7 million from Columbus-based Nationwide Insurance Co. The local retail market has remained relatively stable despite the recent recession.
LOS ANGELES-For the entire LA County, overall vacancy rates measured 4.3%, which means 43.9 million sf stands available for lease%, according to a first quarter 2002 report by Cushman & Wakefield. Leasing activity year-to-date is 5.3 million sf.
ASHBURN, VA-Developer MIE Properties Inc. has completed construction of the first three buildings of the 82-acre Ashburn Technology Park. The 52,120-sf office/warehouse structures are available for lease at about $10.50 per-sf