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PALO ALTO, CA-Though the Sept. 11 tragedy will worsen current downturn, Marcus & Millichap says it won't undermine long-term attractiveness of real estate investments. Fed's rate cuts, other factors will lead to robust rebound in 2002.
TAMPA, FL-The Rahway, NJ-based developer/investor is growing its Florida portfolio with the acquistion of the class A, 203,000-sf Pinellas Business Center on Roosevelt and Martin Luther King Jr. Boulevards, 80 miles west of Downtown Orlando.
LONDON-Following its relocation to the West End, industrial investor Brixton has sold its old headquarters at 22-24 Ely place, EC1 to an owner-occupier. The sale comnpletes its withdrawal from the office sector.
PORTLAND-Bluestone & Hockley Realty President Clifford Hockley says that given the many real estate opportunities in a down market, investors should consider spending their way through these troubled times.
JERSEY CITY-Companies desperately seeking space in the wake of the World Trade Center disaster have taken at least 2.4 million sf of vacant office space and a million sf of backfill space, much of it once destined for the sublet market.
HOUSTON-The city's northwest submarket will be home to three firms that have inked 8,300 sf of office space. The tenants have signed for Northchase Place, One Northchase Park and Northchase Plaza.
ORLANDO-A New York lender consortium headed by Deutsche Bank Alex. Brown Inc., Salomon Smith Barney and CIBC World Markets is loaning Nashville-based Gaylord Entertainment Co. up to $210 million to complete construction of a total 1,760 rooms in two hotels and a 178,000-sf meeting and exhibit hall one mile from Walt Disney World's main gate.
SAN DIEGO-A local mortgage lending company has signed a five-year lease for 4,788 sf of office space at 591 Camino de la Reina in the Mission Valley Financial Center.
MINNEAPOLIS-After several years of 10% rent hikes, next year will see average rents go up 2% to 3% percent, according real estate experts. Increased supply and a slowing economy will keep increases down.