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PHOENIX-Global Crossing Telecommunications, headquartered in Rochester, NY, will move into a 65,000-sf industrial spot in September. The location will serve as a regional hub. The five-year pact is valued at $4.2 million.
LAWRENCE, KS-The 152-unit AMLI at Alvamar complex was bought by AMLI in 1994. At 12 years, it was much older than the Chicago-based REIT's preferred age of its properties. It was sold to a local real estate company.
CHICAGO-President and CEO Douglas Crocker II is leading the search for his successor, who may have up to three years to prepare to take the helm of the largest multifamily rental REIT in the US.
CHICAGO-The Landmarks Preservation Council of Illinois asks, why spend $587 million on renovating Soldier Field, forcing the Bears Downstate for two seasons, when a retractable-domed stadium could be built for less on the South Side?
GERMANTOWN, MD-This local real estate firm plans nearly $13 million of renovations and improvements in order to lease the 353,800 sf of property in seven buildings on 56 acres.
NEW YORK CITY-Chinatown-based bricks-and-clicks retailer Pearl River leases the ground floor of a Downtown Broadway property located within blocks of its two existing stores.
YORBA LINDA, CA-Constructed in 1986, the 48,000-sf Yorba Linda facility is 98% occupied. Its major tenant is Nestle USA, which occupies half of the facility.
HOUSTON-United Investors Realty Trust is prepping for a shareholders vote Sept. 12 on resolutions for a takeover by Florida-based Equity One. The vote follows a settlement with a dissident stockholder group over investment policies.
SEATTLE, WA-A specialist in the region's industrial market, Brett Hartzell of CB Richard Ellis comments on some of the quirky numbers posted during Q2. Little construction, negative absorption and slightly higher vacancies--but it manages to remain healthy overall.