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REIT Performance in 2002 'Boring': Lehman Brothers

remstaff &Globe Street | January 10, 2002

NEW YORK CITY-Lehman Brothers latest predictions on REIT performance see an across-the-board return of 7%--a giant step back from the heady, double-digit profits investors enjoyed over the last two years.

Work Under Way on 128-Unit Apartment Complex

remstaff &Globe Street | January 10, 2002

JACKSON TWP., NJ-Developer Schenkman/Kushner expects to begin leasing the first section of Jackson Green by late spring.

Reno Developer Pays $96.67 per SF for Melbourne Office Asset

remstaff &Globe Street | January 10, 2002

MELBOURNE, FL-Atlantic Realty Cos. of Vienna, VA sold the 10-story, 150,000-sf, 16-year-old Rialto Office Place Tower, adjacent to the Hilton Hotel, to Rialto LLC for $14.5 million. Melbourne is 60 miles southeast of Downtown Orlando.

ClientLogic Takes 70,000 SF at Two Locations

remstaff &Globe Street | January 10, 2002

BLOOMFIELD, NJ-The management services firm has signed up for 40,000 sf of office and warehouse space here and a 30,000-sf call center in nearby Clifton.

Teachers Union Relocating to 740,000-SF Downtown Space

remstaff &Globe Street | January 10, 2002

NEW YORK CITY-The United Federation of Teachers is buying a 37-story Downtown building and signing a long-term lease on the 19-story structure next door. The union will sell its Midtown South headquarters and set up shop in Lower Manhattan starting in early 2003.

Broadway Tech Center Drives $6.5-Mil 1031 Exchange

remstaff &Globe Street | January 10, 2002

PHOENIX-Proceeds from the sale of a Chicago parking garage are funneled into the acquisition of the 87,642-sf, fully occupied Broadway Tech Center in Phoenix. The sale marks a first for an Insignia/ESG team now with a hard focus on 1031 exchanges

State Stimulus Package Benefits UC-Davis Building Projects

remstaff &Globe Street | January 10, 2002

DAVIS, CA-UC Davis was one of seven schools included in Gov. Davis' $1 billion economic stimulus package. The university will receive $66.1 million for new construction, if the plan is approved.

McCarthy Finishes $9-Mil Parking Structure

remstaff &Globe Street | January 10, 2002

NEWPORT BEACH, CA-McCarthy Building Companies has completed construction on

Biotech Complex Gets $160 Mil in Refinancing

remstaff &Globe Street | January 10, 2002

CAMBRIDGE, MA-GMAC Commercial Mortgage Corp. provides a $160-million interim loan to JER Partners and Lincoln Property Co. for the refinancing of One Kendall Square, a nine-building biotech and office complex here.

Big Dig Awards Last Major Contract

remstaff &Globe Street | January 10, 2002

BOSTON-The Big Dig awards its last major project to Modern Continental, indicating that the massive $14.5 billion highway construction project going on in the heart of the city here is finally almost done. The $179.4 million bid was $3.2 million above office estimates.

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REIT Performance in 2002 'Boring': Lehman Brothers

Work Under Way on 128-Unit Apartment Complex

Reno Developer Pays $96.67 per SF for Melbourne Office Asset

ClientLogic Takes 70,000 SF at Two Locations

Teachers Union Relocating to 740,000-SF Downtown Space

Broadway Tech Center Drives $6.5-Mil 1031 Exchange

State Stimulus Package Benefits UC-Davis Building Projects

McCarthy Finishes $9-Mil Parking Structure

Biotech Complex Gets $160 Mil in Refinancing

Big Dig Awards Last Major Contract

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