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NEW YORK CITY-Morgan Stanley is considering selling its unfinished Midtown building to rival securities firm Lehman Brothers and moving a chunk of its operations out of Manhattan.
SAN DIEGO-According to a national report, San Diego ranks 13th among the nation's least-affordable metropolitan areas for rental housing. Last, year, San Diego ranked 25th on the list. But the $19.46 an hour a San Diegan must earn to afford rental housing is up 21% from 12 months ago, according to the study.
HOUSTON-Enterprise Rent-A-Car is taking a 1,200-sf flex-service center spot in Houston's northwest submarket. In Mexia, TX, a Washington-based investment company has acquired an existing Radio Shack retail site.
LONDON-In the latest market commentary from the Royal Institution of Chartered Surveyors, Fewer and fewer UK estate agents are reporting a price rises in what many see is a slowdown in an overheated residential property market.
CHICAGO-AMLI Residential Properties Trust says the economic slowdown means third- and fourth-quarter earnings will come in at $1.35 per share, rather than the First Call estimates of $1.43 per share.
DALLAS-A long-time owner of an in-town building near the historic Dr. Pepper site, now an upscale mixed-use development, snares close to his $1-million asking price for an 11,381-sf office building. A law firm takes the title and the owner's office in the sale.
FORT LAUDERDALE, FL-Trafalgar Square of Plantation, FL paid $88 per sf for the two-story, 97,975-sf office buildings in the Fort Lauderdale Commons Center at 5300-5310 NW 33rd Ave.
MINNEAPOLIS-The Minneapolis Institute of Arts is looking at a 100,000-sf expansion, while The Children's Theatre Company is considering a 40,000-sf addition. While they share a common campus, they each have specific needs.