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ATLANTA-The Houston-based REIT paid Raleigh, NC-based Bob Hughes and Associates about $88.56 per sf for each of the properties, based on Weingarten's $141.7 million investment on 1.6 million sf of retail this year. The REIT also bought a property in Plano, TX.
DENVER-It takes 257 pounds of dynamite, set off in a series of two explosions, to level the 15-story, 108,000-sf office building the city bought for $15 million after filing a condemnation suit.
DALLAS-Haynes and Boone takes an extra 27,203 sf or the entire 25th floor in the Dallas CBD's most recognizable building, the Bank of America Plaza. Cushman & Wakefield brokers cut both sides of the agreement.
WASHINGTON, DC-President Bush gets involved in the push for terrorism insurance legislation, meeting with real estate, labor and business officials to discuss the matter at the White House. While the House of Representatives passed its version of a terrorism insurance bill--including a federal backstop to cover insurers' liabilities beyond a certain amount in a claim--the Senate has yet to make progress on the matter.
BOSTON-OutStart relocates its corporate headquarters from Natick to the city's leather district at One Lincoln Plaza. The company, which recently opened offices in London and in Ireland, says it wants a more convenient location for its "expanding global client base.
MINNEAPOLIS-Minneapolis/St. Paul prime office rents were up 0.4% to $26.85 per sf in the fourth quarter. It is one of 14 US markets to see an increase in rents, according to a Grubb & Ellis survey, while the other 18 US markets it surveys saw decreases.
MIAMI-The federal General Services Administration, the nation's largest office lessee providing space for one million workers in 1,600 cities, will be leasing the estimated $12.3 million premises from Coral Gables-based Codina Group for at least 15 years at a total estimated rent of $24.6 million.
ATLANTA-Michael E. Rawlings, former vice president at Richmond, VA-based Kasper Mortgage Capital, will handle all aspects of affordable housing ventures for Birmingham, AL-based Collateral Mortgage Capital LLC.
GLEN ALLEN, VA-The disposition of the 1,250-acre parcel belonging to Tyco International is now complete with Sauer Properties Inc.'s $4.5-million acquisition of the final 420-acre tract. Sauer plans commercial development on the property when the market becomes more favorable.
LONGMONT, CO-An original $25.7-million lease deal is now worth $43 million, after fast-growing Intrado extends the term to 10 years and its space at Boulder County Business Center to 276,000 sf.