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NILES, IL-Board members of the largest industrial property owner in the market decide to write off much of its $63.5-million investment in the former headquarters of bankrupt HALO Industries Inc.
CHICAGO-Involved in the design and construction of the 756,000-sf Harold Washington Library Center more than 10 years ago, U.S. Equities returns as property manager of the largest public library in the world.
LOS ANGELES-Greines, Martin, Stein & Richland LLP takes 20,423 sf of office space for six years at Wilshire Courtyard. The firm will relocate from Beverly Hills early next year.
NOVI, MI-This city must either change its master plan, go to a referendum to give away park land or raise taxes to settle a $70 million debt with Sandstone Associates over a failed 100,000-sf project.
AUSTIN-A Hendricks & Partners report says that although absorption doubled in the third quarter, the number of new units drove vacancy rates to 5.1% -- and builders aren't done yet. More than half of available units come with concessions.
ATLANTA-The locally based developer bought four acres at Glenlake Parkway and Abernathy Road in north Atlanta from St. Joe Co. of Jacksonville, FL. for an estimated $40 per sf. The developer plans to build a 14-story office tower, tentatively scheduled for completion in January 2003.
GOLDEN, CO-Developers would need voter permission to receive subsidies, such as those once sought by Nike Corp. here, and say "thank you" with signs on the property under a charter amendment adopted by a 21-vote margin.
LONDON-The office vacancy rate in central London has soared to a five-year high of 7.1%, according to new research from agent DTZ. Less than two years ago the rate was as low as 2%.
LONDON-Life Assurance Holding Corporation has outsourced the asset management of its $260 million Windsor Life property portfolio to Aberdeen Property Asset Managers.