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PORTLAND-Coming off an extremely active 18 months of development and leasing activity, sub-anchor tenant space under 20,000 sf will continue to be a challenge to lease as owners entertain more requests for concessions on rents and associated expenses, says John Reinhold, National Retail Properties.
BELLEVUE, WA-Woe is the Eastside, where negative absorption has nearly tripled and some landlords have dropped class A rents by nearly 15%. Grubb & Ellis says this area sustained the brunt of the third-quarter storm that ripped through the Puget Sound.
CHICAGO-AIDSCare, Inc., based in the Lakeview community, is getting 2.7 acres from the city for $20 and $1.2 million to build 64 residential units and health facilities for low-income residents with HIV/AIDS.
SACRAMENTO, CA-The private partnership has now leased over three million sf at the 3,000-acre former air base. New tenants include the California Division of Forestry and the US Department of the Interior Forestry Service.
LAKE FOREST, CA-The two-story commercial property was 98% occupied at the time of sale. Major tenants include KinderCare, Abigail Abbott Staffing Services, Chiquita Brands Co. and World Savings.
PLYMOUTH, MI-DeMattia Group hopes to lease the building in the MetroWest Technology Park for about $312,000 a year to a tenant looking for high-tech research and development space.
HOUSTON-The CBD high-rise at 1301 Fannin provides space for high-tech needs such as Internet providers and back-office operations inks two leases. Despite in high-tech downturn, the space continues to be absorbed.
ADDISON, TX-Abby Executive Suites has expanded its Dallas presence by leasing more than 20,000 sf at an RM Crowe building here. Abby subleases space to entrepreneurs and other professionals seeking smaller spaces and third-party services.
NEWPORT COAST, CA-The San Francisco-based financial services company will occupy 4,631 sf of retail space on Newport Coast Drive. Wells Fargo plans to open a full service bank here.
LONDON-The office market in fringe districts like Soho has suffered since 11 September, but other parts of the West End like Victoria and Westminster appear relatively unscathed, according to new research from Lambert Smith Hampton.