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NEW YORK CITY-A technology firm that has hit it big providing instant messaging services to corporate clients convinces its Midtown building owner to nullify its 10-year lease. Potential rent savings add up to $24 million.
STAMFORD, CT-Abbey National Treasury Services PLC., a UK-based financial services firm, plans to open its first US branch office on Oct. 1 here in 17,580 sf of space at the former Champion Building at 400 Atlantic St.
SONOMA-A new terminal building had been designed and is near completion, but will have to be amended to accommodate new security measures. Additional security alone is costing $1,000 a day.
LOS ANGELES-Hiro Real Estate puts finishing touches on conversion of old Union Oil headquarters into hip office and retail space, while public-private partnership completes transformation of Whittier's aging Hoover Hotel into 50-unit apartment complex for seniors.
BOSTON-A string of apartment complexes comprising 14 properties located across six states is financed locally for $225 million and bought by a joint venture between a Colorado-based REIT and an institutional investor.
PHOENIX-A bankruptcy court clears the decks for pension fund investors to get repaid by former Arizona governor, Fife Symington. He must repay upward of $2 million or 40% of a trust and provide information to aid an investors' lawsuit against Wells Fargo Bank.
MIAMI-The Miami-Dade County Seaport Department sought permission to order two independent appraisals on what is considered the last large contiguous piece of developable industrial land within the city limits.
SEATTLE-In an effort to lure more tourists to spend their money in the Emerald City, the Seattle-King County Convention and Visitors Bureau discount program has kicked off a bit earlier this year.
PHOENIX-VHS Phoenix Health Plan has signed a 20,050-sf pact, valued at $1.2 million, for Central Park Forest in midtown Phoenix. It's a bright spot in a grim submarket that carries a 14% vacancy, sans sublease space.