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ATLANTA-The Georgia Department of Revenue is taking the entire 43,414-sf Highwoods Center at Tradeport 111 building near Hartsfield International Airport for an estimated 10 years and 200,000 sf for 10 years at Century Center at I-85 and Clairmont Road, DeKalb County.
LONDON-The availability of offices in London's West End increased during July and August 2001, according to the latest market commentary from Lambert Smith Hampton. New space is coming to the market although take-up has continued to decline.
NEW YORK CITY-Existing shopping centers in the Northeast are being bought up by the major REITS. Historically low rates and a soft economy are putting buyers with healthy balance sheets and solid portfolios into acquisition mode.
PRINCETON, NJ-The new tenants include a software development company, a trade show marketing firm, and a security technology company. Boston Properties owns the office park.
MERRIMAC, MA-Two brothers propose building this town's largest-ever residential project on part of a 76-acre farm that's been in their family for six generations. The developers applying for a comprehensive permit under 6the state's affordable housing law.
ANN ARBOR, MI-University of Michigan students will benefit from both complexes, which will have residential space at one and research facilities at the other. Students will work with residents, studying the effects of aging.
TEMPE, AZ-HSL Properties of Tucson snags a good deal from bankruptcy court, taking the title to MicroAge's office building in Tempe. The real estate company pays $8.5 million for the 150,000-sf holding and already is talking to a 100,000-sf prospect.
TROY, MI-The city will look at ordinance amendments to allow for more multifamily uses in the city, which have been banging on the city's door for years. The city also lacks apartments and condominiums, officials say.
MIAMI LAKES, FL-The retail toy company signs a lease valued at an estimated $1.4 million a year for 4,500 sf in this master-planned community 18 miles northeast of Downtown Miami.
PORTLAND-The Suburban vacancy rate, meanwhile, is at 16.1%, reports Cushman & Wakefield's Portland office, and managing director Terry Shanley says both CBD and Suburban vacancies likely will rise further before they begin falling again.