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CANNES-One of the young turks of the serviced office market, Gainsborough, is to undertake an extensive expansion programme in the United Kingdom and USA. It will open eight new centres in the UK and 15 in the US
ROCKVILLE, MD-In an $11.3-million cash deal, CRIIMI MAE Inc.'s commercial mortgage servicing subsidiary CRIIMI MAE Services LP sells nine master and primary servicing contracts.
SAN DIEGO-The company that holds the master lease to the historic Mission Beach Plunge swimming pool at Belmont Park has agreed to a pact that will keep the facility open.
NEW YORK CITY-Cushman & Wakefield executive vice president Jack Fraker predicts the industrial sector will be the first US real estate market to recover, fueled in part by consumer confidence. The office sector is projected to pick up soon thereafter.
LOS ANGELES-California political veteran Chad Griffin has been hired to direct all aspects of a campaign to stop Washington Mutual Bank's massive luxury housing and retail development in the Santa Monica Mountains.
DALLAS-Simply Fashions sign deals for 9,500 sf of inline space at suburban retail centers in Lancaster and South Dallas. The moderately priced retailer of ladies' apparel and accessories now operates 215 stores in 21 states.
WASHINGTON, DC-The American Society of Association Executives acquires majority ownership of 1575 Eye St., while Carr Capitol takes a general partnership interest in the 208,600-sf building. The deal was based on an estimated building value of $58.7 million.
BINGHAM FARMS, MI-Although CEO Jeffrey Lewis says the impact is unclear, Kmart leases represent 4% of Malan Realty Investors, Inc.'s total base rents. The retailer has 346,430 sf in Topeka, KS; Forestville, MD; and Madison, WI and Marshfield, WI.
LITTLETON, CO-An affiliated company of Toshiba Corp. becomes the first company to relocate to the speculative project developed by Chicago-based First Industrial Realty in this southwest suburb of Denver.
CHICAGO-The flight of tenants out of high-rise, high-profile Central Business District office towers hasn't been seen at Sears Tower, which TrizecHahn Corp. is expected to own entirely in 2003.