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CHICAGO-Parkway Properties, Inc.'s purchase of Two Illinois Center from Tishman-Speyer for $175 million--or $164 per sf -was lower than office deals this year even though at least one other deal may come in even lower.
DALLAS-Few office buildings have exchanged hands in the Dallas-Ft. Worth market. It's not so much the economy as it is an attitude "to hold what you've got." Many properties are in the hands of REITs and long-term investors, who aren't ready sellers, say execs.
SNOWMASS, CO-The Vancouver-based company will develop a long-awaited base village in the Snowmass Ski Area, which may include 600 to 700 condominium units, restaurants, retail shops and pedestrian walkways.
DENVER-A 10% overall area office vacancy rate--it currently stands at 16%--is at least two years away, brokers for the company say. Some submarkets could see a 10% vacancy in as few as six months, others as long as 30 months.
DENVER-A 10% overall area office vacancy rate--it currently stands at 16%--is at least two years away, brokers for the company say. Some submarkets could see a 10% vacancy in as few as six months, others as long as 30 months.
LONDON-Miller Developments and the Royal Bank of Scotland have been selected to develop up to seven million sf of mixed-use space on a former military airbase in Warrington, Cheshire.
ATLANTA-Docucorp International of Dallas changed its mind on leasing quarters at the Charlotte-based developer's planned 20-story, 513,000-sf office tower in the 18 million-sf Interstate 75-Interstate 285 submarket (Cumberland-Galleria) in Cobb County.
DENVER-Duke Energy Field Services signs a letter of intent to lease 125,000 sf in a proposed 640,000-sf office tower planned Downtown, but some experts caution that is far short of a signed lease.
NEW YORK CITY-The architect and developer, who together have created some of the most notable buildings in the US, were honored for their work at the Guggenheim Museum last night (July 12).
CHICAGO-The third major office deal in the largest submarket brings the total volume to $99.5 million. While $18.2 million was more than twice what the sellers paid in 1997, 29. N. Wacker Dr. underwent major renovations.