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LONDON-The problems facing the central London office market are highlighted by the interim results from specialist central London investor Benchmark. The group estimates prime rents have fallen 10% and they are unlikely to recover until 2003.
BIRMINGHAM, AL-The two equity offerings, totaling 560,380 shares, are scheduled to close today. Cohen & Steers Quality Income Realty Fund Inc. bought 299,670 shares for $9.5 million. Salomon Smith Barney purchased 260,710 shares for $8.3 million.
HOUSTON-Assess Net signs a 4,050-sf lease that puts an 89,660-sf flex building along the North Loop East at 93.3% occupancy. The Austin-based firm selects a 26-year-old building in North Houston for its first location in the city.
MILFORD, CT-The Meriden East Apartments, a 66-unit residential complex here has sold for $3,175,000, according to Marcus & Millichap, which brokered the deal.
CORAL GABLES, FL-Tere Blanca de Ulloa moves up to senior vice president status from vice president at Codina Realty Services Inc. ONCOR International. Blanca averages 600,000 sf in closed transactions annually.
DENVER-Trammell Crow Co. senior managing director Stephen Moyski can't pass up a chance to oversee Cherokee Investment Partners' high-density transit-oriented mixed-use development less than three miles from Downtown.
ST. PAUL, MN-The Conservatory of Music also will move into the building, which cost $3.6 million to renovate. It had been nearly vacant since the Science Museum of Minnesota moved in 1999.