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TAMPA, FL-The 5.62 million-sf central business district submarket saw 394,551 sf go dark in fourth quarter 2001, bringing total net absorption to a negative 128,852 sf, the poorest performance of the last six years.
FORT LAUDERDALE, FL-The 3.7 million-sf Fort Lauderdale CBD has the lowest vacancy level at 16.92%. Sublease space totaling 657,034 sf has brought the overall vacancy mark in the 22.3 million-sf county market to 19.86%, according to a new study by RealData Information Systems Inc. of Coral Gables, FL.
DETROIT-Liability insurance remains difficult to get for trophy-type buildings that could attract attention, says the Great Lakes Construction Alliance of Detroit. It has joined the call for federal legislation to provide safeguards for terrorism insurance.
LEBANON, TN-Bridgestone/Firestone North America will be moving to the new facility in February 2003 from its existing 375,000-sf location in Memphis, TN. The estimated value of the tenant's 10-year lease is $22.5 million. Ground-breaking is tentatively set for May 1.
ST. PAUL, MN-The 635,000-sf building owned and operated by Minnesota Life provides flexibility for tenants and blends in with historic surroundings in the Lowertown neighborhood, a factor in its earning Downtown office building of the year.
IRVING, TX-The punch list is being checked and double checked for Las Colinas Highlands, an office project that broke ground in October 2000. Despite the slow market, Macfarlan's transactions director is confident it will be filled by year's end.
NEW YORK CITY-The Manhattan-based REIT has completed its acquisition of nearly all the shopping center assets of a Morgan Stanley-owned trust for $354 million in cash and the assumption of $300 million in outstanding debt.
STAMFORD, CT-A major portion of the 175,000 sf of space at 400 Atlantic St. here that American Express Co. had leased in the aftermath of the terrorist attacks on the World Trade Center will soon be coming available on the sublease market.
ANAHEIM, CA-Private investors grab the multifamily property, which is located at 1224 W. Center St. The buyers, Dilip and Bharat Patel of Cerritos, have paid $830,000 for the multifamily property.