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LONDON-The South Coast office market has received a boost with the letting of the 70,000-sf Forum One building on the Solent Business Park between Southampton and Portsmouth to business support group Amey.
NEEDHAM, MA-The town looks to give its 215-acre industrial center a facelift by changing the zoning and turning it into an office park. A number of high-tech companies have moved into the center in recent years.
CHARLOTTE-The Philadelphia-based pharmaceutical company is adding a 150,000-sf laboratory and manufacturing arm at its 215-acre Sanford, NC campus, 80 miles east of Downtown Charlotte.
PASADENA, CA-Alexandria Real Estate Equities has reported a 13% increase in funds from operations fourth quarter 2001over the same period last year. The company says that it signed a total of 19 leases during the fourth quarter for approximately 145,000 sf of space.
SAN FRANCISCO-The San Francisco Art Institute, which is part of a proposed project at Pier 70, has signed a five-year lease near the waterfront, after its Market Street lease began nearing expiration.
WASHINGTON, DC-Quadrangle develops its second fund, National Capital Properties Trust II, and starts out with $250 million in capital for acquisitions and build-to-suits. The fund will focus on properties ranging from the Class A-type office buildings purchased under Fund I, to high-end apartment structures.
PORTLAND-The move doubles availability in Portland's largest office building, which sold in 2000 for $120 million. On the bright side, brokers showing space in the 42-story tower will be able to break for lunch next month at Portland City Grill, a new restaurant opening on the 30th floor.
WESTLAKE, CA-Homestore.com, the troubled online real estate firm, says it will cut its staff by an additional 300 workers and will spin off some of its assets. This news follows the company's stock trading at a 52-week low.
SEATTLE-Extended Stay America is seeking approval this week from the city's Design Review Board for a hotel development on the east side of Aurora near Prospect Street. A city planner says they want to start construction this year.
WASHINGTON, DC-A 16,000-sf parking lot will become the home of a new luxury apartment building with Monument Realty's purchase of the property from Eastern Enterprises for $3.95 million.