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SAN FRANCISCO-Marcus & Millichap reports that the Bay Area apartment market is stabilizing, saying that sliding rents should end this year. Jeffrey Mishkin of M&M says that the downtrend has come to an end.
SEATTLE-In another West Coast coup for Insignia/ESG, Kidder Mathews Segner, one of the Puget Sound's top commercial real estate services firms, drops its affiliation with Oncor International in favor of one with Insignia. A press conference is scheduled for later this morning at the Four Seasons Hotel.
DENVER-Even though developers pulled fewer permits in 2001, the 9,090 multifamily units still are too many, says Mike Rinner of Denver-based Genesis Group and Grubb & Ellis apartment broker Jeff Hawks.
WHITE PLAINS-Mack-Cali Realty Corp., reports it has sold its last remaining multifamily residential property, 25 Martine Ave., here for $18.1 million to Archstone-Smith of Denver.
LONDON-London office workers have the most cramped--or efficient--offices among the world's major business centres, according to DTZ research. The average UK business allocates 120 sf per employee, against 240 sf per employee in Germany.
LYNNFIELD, MA-Sophos inks a deal for office space here at 6 Kendall Lane. The company, which develops anti-virus software and needed room to expand, found a wealth of suitable, affordable options.
AUSTIN-The Austin Revitalization Authority's plan to buy land for a 57,000-sf office building and lease space to the city hits a roadblock. The 10-year, $8-million lease is just out of line, concur several council members.
MIAMI-The two-year old Basking Ridge, NJ-based spin-off from Lucent Technologies is operating its 50,000 sf, $10 million center for customer care for the Caribbean and Latin America.
LONDON-London office workers have the most cramped--or efficient--offices among the world's major business centres, according to DTZ research. The average UK business allocates 120 sf per employee, against 240 sf per employee in Germany.