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LONDON-The office markets across Europe were already slowing ahead of 11 September, according to new research from FPD Savills, and the subsequent economic shock could be enough to turn rental growth negative in some locations.
LONDON-This week's decision to permit a fifth terminal at London Heathrow airport will put severe pressure on land in the area, according to agent Rogers Chapman. And planning restrictions mean the demand will not be satisfied.
LONDON-Office rents in London's West End have fallen over the third quarter of 2001, according to new research from King Sturge. But the agent forecasts that the West End will survive the downturn better than the City.
LONDON-The troubled construction giant John Laing has hung the 'for sale' sign over its property division. Jones Lang LaSalle Corporate Finance has been brought in to handle the disposal.
LONDON-The Royal Institution of Chartered Surveyors has forecast that rental growth will continue over the next two years, albeit at a slower rate than in 2001.
ALPHARETTA, GA- In a $55.5 million transaction, Moran & Company closes the sale of Fairfield Properties' Preserve at Deerfield. An undisclosed client of Invesco Realty purchases the 478-unit complex.
MIAMI- Shavout Realty Ltd. has purchased a 15-story office project from WRH Royal Ltd. for $8.45 million, a premium of $5.45 million above what WRH Royal paid in 1997.
HOUSTON-The premier Williams Tower gets a 5,021-sf tenant, Best of Health, while a Port Arthur, TX retail store corners a buyer. A Washington state broker negotiates with Colliers Oxford on the sale of the 7,469-sf building, leased to Blockbuster.
ATLANTA-The Clubhouse...Where You Belong -- the city's upscale restaurant with a country-club like atmosphere -- is now under new ownership, purchased by Chicago's Clever Ideas, Inc.
NEW YORK CITY-Fresh Meadows Apartments, one of Queens' largest residential communities, is sold for $270 million. The 3,285-unit complex, partly owned by Insignia Financial Group, comprises 140 buildings spread over three million sf.