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NEW YORK CITY-Manhattan's Financial District shows its Post-9/11 allure as Union Bank inks a Downtown deal for 23,458 sf. The bank had been lodged in Tower 2 of the World Trade Center. The bank signed a seven-year lease for the entire 23rd floor at 40 Wall, which it plans to occupy by late February.
LONDON-Plans to regularise the unpopular system of planning gain--under which developers are required to contribute to public projects in return for planning permission--have been unveiled by the Department of Transport, Local Government and the Regions.
ESCONDIDO, CA-Slow but steady wins the race. At least that's what overseers of this city's modest CBD say. The number of new business licenses issued for the Downtown improvement district in 2001 was on par with what city officials say they'd like to see.
TEMPE, AZ-Crown-Phoenix, which just moved from Spokane, WA to Arizona, acquires the Elliot Corporate Center I in the Southeast Valley. The 93%-occupied building has Honeywell Corp. as its lead tenant.
ROLLING MEADOWS, IL-Fifth Third Bank claims 94,432 sf, nearly 10% of the three-building complex along the Northwest Tollway, as Prime Group Realty Trust fills up vacancies in the property that has seen a $10-million makeover.
SANFORD, FL-CPH Constructors is closing in on the completion of Unicell Paper Corp.'s 91,000-sf plant and office space along Jewett Lane. The $35-million project got underway in March and will be finished in February 2002.
EDEN PRAIRIE, MN-David Jellison anticipates smart growth to be a big issue again in 2002 and predicts shrinking state budgets will provide challenging transportation issues for outer-ring suburbs.
WASHINGTON, DC-According to the Association of Foreign Investors in Real Estate, terrorist attacks in the area have not discouraged interest among investors and potential investors. Not only are investors not frightened away by the events, some have become attracted to US markets because of the attacks.
PHOENIX-In an ongoing disposition of its Arizona holdings, Canadian-based Anthem Partners releases the title to the Northbank Office Building on the fringe of the Camelback Corridor. International Capital Partners is the buyer. Another Anthem building is under contract.
FRANKFURT-Yesterday's announcement of the 200 million ($180 million) sale of the Hotel Arts in Barcelona to a consortium led by Deutsche Bank has focussed attention on the role of German players in the European hotel market.