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CHICAGO-The largest US office REIT sees funds from operations dip as a result of declining occupancy across its 128.2-million-sf portfolio as well as writing off investments, including $90.6 million in HQ Global.
AUSTIN-US OnLine doubles its presence in the Pacific Northwest, taking over the cable TV assets from defunct Dallas-based Global Interactive Communications. The all-cash buy is considered an "extraordinary value.
SAN DIEGO-Nonresidential construction permits dipped for the first time since 1994 last year, according to the Construction Industry Research Board's 2001 report. Multifamily home construction also was down.
LONDON-Salmon Harvester Properties has sold the freehold of a 12,000-sf office investment in Redhill, south of London, to Property Investment Holdings.
DETROIT-The University of Detroit Mercy plans on consolidating students at Outer Drive into a facility on McNichols. It will explore the highest and best use for the Outer Drive campus.
AUSTIN-The Austin Area Teachers Federal Credit Union is making plans for a construction start on a 5,700-sf branch at the junction of William Cannon and Escarpment boulevards. The seventh location will open by September.
DENVER-Available class B space is increasing in the submarket, where the northeast industrial vacancy rate has risen from 4.28% last year to 7.14% today, according to a report by Grubb & Ellis.
MORRISTOWN, NJ-The four separate loan transactions, three with one borrower, involve a mix of industrial and office assets with a mix of single-tenant and multi-tenant properties in New Jersey.
ORANGE, CA-The Orange office of the commercial real estate firm says a 228,423-sf industrial building in Ontario has been leased. The new space will allow the tenant, Calico Brands, to expand its import-export business.