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TOWSON, MD-Maryland commercial real estate firm KLNB, Inc. increases its business with NAI Direct and becomes NAI KLNB, Inc. The former NAI will now handle New Jersey-based NAI Direct's office and retail transactions in Washington, DC and parts of Virginia, as well as its retail business in the Baltimore area.
SEATTLE, WA-With the neighborhood's high demand for condominiums, Michael McQuaid of Paragon says new apartment construction in Queen Anne will likely be converted from rental to sales units -- keeping rents and occupancies healthy.
ORLANDO-The three-day conference of the International Council on Shopping Centers, ending today, drew 1,000 attendees who heard safety consultants suggest added security drills to protect their customers and their properties.
LONDON-A fall-off in Americans and Japanese visitors to London means that room yields fell more than 20% year-on-year in September. The 11 September attacks, the global economic slowdown and foot and mouth are all being blamed.
CHELMSFORD, MA-This area on Route 495 North has recently seen more than 350,000 sf of its space go on the market. The broker tells GlobeSt.com that while there has been interest in the flex space, the pure office space is a tougher sell.
PONTIAC, MI-An Oakland County Circuit Court judge dismisses a $37-million damage claim and requests for documents from a Ford-linked development company. One attorney thinks the suit could be settled next month.
MIAMI- A new Grubb & Ellis Co. survey finds Miami-Dade is at 98%; Broward, 97.2%; and Palm Beach, 95.6%. Rents are rising at a slower pace than last year in Miami-Dade and Broward but are increasing faster in Palm Beach County.
PARSIPPANY, NJ-Coming quickly on the heels of a lease for 160,000 sf of corporate space, the company's consumer health group has now taken most of a new Gale & Wentworth building here.
GREATER BOSTON-A third quarter report indicates that while vacancy rates have gone up, a good deal of that is due to sublease space. A local industry expert insists that this is an indication that while the economy is suffering, the commercial real estate market here is fundamentally healthy.