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MANCHESTER-A slowdown in demand for offices is being met by a fall-off in supply, according to a new report from Jones Lang LaSalle's latest report on the Manchester office market.
LOS ANGELES-Measure requires most types of property to be retrofitted with gas shut-off valves before a sale can close. Supporters say the new law will save lives, but opponents object to the cost.
MARBLE FALLS, TX-A 36,300-sf vacant grocery and a antique mall get a makeover into a 30,000-sf, eight-screen theater in the resort town of Marble Falls. The balance of the space will be readied for general retail use.
ANNAPOLIS, MD-After months of negotiation, the US Navy and Anne Arundel County officials make progress on a deal to transfer ownership of a former naval facility to the county for eventual redevelopment. Annapolis Partners is on board to build a $250 million office park on the abandoned site.
GREATER BOSTON-The Community Preservation Act manages to pass in five of the 12 towns where it was on the ballot, despite its defeat in Boston. About 10% of the towns in this state have now passed this Act.
DENVER-Durango has a 0.9% vacancy rate, the lowest in the state. Colorado Springs' vacancy rate was 5.4%, highest since the first quarter of 1999. The average rent for the state rose 4.25% to $785.
SUGAR LAND, TX-The Greater Ft. Bend Economic Council seals four deals, totaling 101,100 sf, for Sugar Land properties. Fluor Daniel takes 72,000 sf of the grand total in two buildings. The deals come at a time when vacancy is 13.5% in the submarket.
DALLAS-Trammell Crow has started culling brokers' ranks in an ongoing across-the-board sweep this year to drive down costs. By year's end, 140 brokers will be gone in the planned 700-employee cutback. In Denver, a retail BTS is eliminated.
ORLANDO-Haskell Co. of Jacksonville, FL is breaking ground next week on the first $24.8 million phase of the 125,000-sf, 652-bed expansion at Orange County's overcrowded 23-year-old, 4,300-inmate correctional complex near one of the city's largest industrial parks.