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DETROIT-A lease in the Avis Farms Research & Business Park worth $1.6 million and a $1.9-million sale in two separate submarkets are handled by the local arm of Colliers International.
HOUSTON-A valve distributor takes a chunk of industrial space off the hands of developer Vantage Cos. The new deal puts the newly delivered product in the northwest submarket at 33% occupancy.
MIAMI-The managing director of the Atlanta-based firm's Miami office posted a combined 325,000 sf of leased volume valued at $70 million in 2001. In 2000, Gale did the largest Downtown lease with Bank of America for 88,000 sf and trumped that performance in 2001 with Holland & Knight taking 108,000 sf.
MIAMI-Chicago-based Equity Residential Property Trust, the largest multifamily property owner in the United States, paid MIG Realty Advisors of West Palm Beach $70,652 per unit or $74 per sf for the 23-building, 368-unit Isles at Sawgrass apartments in the Fort Lauderdale suburb of Sunrise, FL. The site is 25 miles north of Downtown Miami.
SAN ANTONIO-Cale Hahn exits his job as research director for the Weitzman Group's San Antonio office for a broker's slot at Dominion Advisory Group. In Austin, Bryan McMurrey goes from Republic Commercial to NAI/CIP.
SAN JOSE, CA-Semiconductor component manufacturer MKS Instruments has signed a long-term lease to occupy 32,000-sf at San Jose's Rio Robles Technology Center near the San Francisco International Airport.
CHICAGO-Resignations of chairman Michael Reschke and chief executive officer Richard Curto from Prime Group Realty Trust are enough for Vornado chairman and chief executive Steven Roth and executive vice president Wendy Silverstein to drop a bid to seek seats on the board.
LONDON-Citigroup has started sub-letting surplus space in its million-sq ft tower at Canary Wharf. Law firm Allen & Overy has taken the 29,000-sf 33rd floor of the tower building at 25 Canada Square, and in all the bank plans to sub-lease over 300,000 sf.
BOSTON-After local published reports indicate that only 18 shows are booked for the $800-million South Boston convention center, the feasibility of the project is questioned.
SEABROOK, NH-FPL Group has reached an agreement to purchase an 88.2% interest in Seabrook Nuclear plant for $837 million. Seabrook is located on a 900-acre site and provides approximately 7% of the electrical power in New England.