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AUSTIN-A high-tech firm, subleasing 3,000 sf, moves next door into 16,642 sf at Lantana II. It's another sublease deal for Bandspeed Inc. in a pact signed with @Outcome. The tenant specializes in enhancing broadband performance.
SAN DIEGO-A limited partnership has bought the 76,829-sf Santee Town Center, including two vacant parcels zoned for an additional 9,700 sf. The project is directly across the street from the planned 465,000 sf Trolley Square retail development.
MINNEAPOLIS-Challenger R.T. Rybak advocates merging city agencies, administrative cost cutting and private involvement, while incumbent Sharon Sayles-Belton advocates a new property tax levy and citizen input.
DALLAS-Five former Equis brokers come on board at Insignia/ESG's Dallas office. Their tenant rep skills and camaraderie with Insignia's senior managing director make it a "perfect fit." Insignia's Phil Baker is still courting the DFW ranks to build the team.
ATLANTA-In one of the largest office deals this year, the San Mateo, CA-based business software systems provider is taking 55% of Pope & Land Enterprises' 14-story, 353,000-sf, $61 million office tower expected to break ground Nov. 5 at GA 400 and Abernathy Road in the central perimeter submarket.
GREATER BOSTON-Preliminary third-quarter figures released by Torto Wheaton Research indicate that this area's office vacancy rates are edging closer to the national average. An analyst with the firm blames the high volume of construction.
WASHINGTON, DC-The Mortgage Bankers Association has data to prove that without Federal terrorism insurance, $26 billion in commercial real estate financings for the fourth quarter could be at stake. The association urges the government to develop a program addressing the problem as soon as possible.
FRANKFURT-Plans by the DePfa Group, one of Germany's and Europe's biggest real estate banks, to split into two independent listed banks in 2002, have prompted it to put 22 properties totalling 3 million sf up for sale.
PALM BEACH GARDENS, FL-The privatized correctional management and facilities development company posts a 146% earnings gain on a 4.7% increase in revenue.
ANN ARBOR, MI-A stockholder of the net-leased restaurant and retail properties REIT claims the company's CEO and board have acted improperly. He urges stockholders to vote against the merger with Commercial Net Lease Realty.