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DALLAS-The DFW region wrestles with the highest amount of sublease space in the nation, nearly eight million sf at Q3's close, says Grubb & Ellis. Add in the 39.2 million sf that's currently vacant and 8.3 million sf under construction and the mercury's dangerously high.
SAN FRANCISCO-The city leads the nationwide plummet of the hotel real estate industry to the bottom of the market cycle following last month's terrorist activities. But industry experts remain positive the market will rebound.
WASHINGTON, DC-Bank of America has consolidated the outsourcing of most of its domestic corporate real estate in 23 states under this commercial real estate firm. Trammell's mid-Atlantic region will gain more than six million sf of leasing and property management under the deal.
SEATTLE, WA-"There's been a fair amount of conversation that the investment side (of retail real estate) is going to turn down, but we haven't seen it," says Paul Sleeth, a broker with Colliers International.
LONDON-Pan-European investor CLS Holdings has bounced back from the departure of its chief executive Glyn Hirsch to buy a site on London's South Bank. The deal is CLS's first in the UK for three years.
NEW YORK CITY-Major Downtown developer Brookfield Properties announced yesterday that it plans to have its One Liberty Plaza and One Financial Center buildings up and running sooner than originally planned.
CHICAGO-"Hot" areas are defined as a matter of degree, as brokers are hard-pressed to pin-point submarkets that are out of favor with investors who are lining up for the few apartment buildings being brought to market.
PHOENIX-DFD Architecture and Cornoyer-Hedrick welcome a new era with today's nuptials. The teaming creates one the state's largest firms and one that plans to vie for practically every high-profile project in the Southwest.
DENVER-Factoring in sublease space, overall market vacancy inches up from 15.46% in the second quarter to 15.86%, according to the Denver office of Jones Lang LaSalle, with rents falling from $19.18 per sf to $18.55 per sf.