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W.P. Carey Acquires Two Local Properties

remstaff &Globe Street | August 23, 2001

WESTFIELD, MA-W.P. Carey & Co. acquires two facilities here from Jen-Coat for $11.5 million. The facilities are fully occupied by Jen-Coat and the packaging manufacturer will lease back the properties under a 20-year lease.

Meridian $30.5-Mil Sale Sets Y-T-D Record

remstaff &Globe Street | August 23, 2001

PHOENIX-The Frankel Family Trust of Anaheim, CA has copped a record-setting, year-to-date price for its Meridian on the Biltmore in the Camelback Corridor. Scottsdale's Starpoint Properties' $30.5-million buy is undergoing a conversion into for-sale units.

Tellabs Delays Office Plans as Company Cuts Staff by 12%

remstaff &Globe Street | August 23, 2001

CHELMSFORD, MA-Tellabs halts its plans to open offices here and to hire additional employees in this state. The telephone network equipment maker is another in a long list of companies in its industry--including Lucent and Nortel--to cope with reduced demand for their products.

NYC Hotel Room and Occupancy Rates to Rebound Next Year

remstaff &Globe Street | August 23, 2001

NEW YORK CITY-By next year, occupancy should reach 80%, up from the expected $76.5% for this year, and room rates should hit $220, just 60 cents below the high of 2000. Part of the decline in occupancy is due to a 3.5% increase in the number of hotels.

DirecTV Dials Up $56-Mil Lease

remstaff &Globe Street | August 23, 2001

EL SEGUNDO, CA-The satellite entertainment giant renews and expands its headquarters space in this LA suburb. The deal eases concerns that the company may be moved if it's acquired by either of its current suitors.

Multifamily Rental Market Slowing

remstaff &Globe Street | August 23, 2001

DENVER-"The days of double-digit annual value and rent growth have ended," says Marcus & Millichap regional manger David Osborne, but relatively strong job growth should keep demand firm for multifamily rental units.

PG Shareholders Approve Merger & Trustee

remstaff &Globe Street | August 23, 2001

NEWPORT BEACH, CA-Pacific Gulf Properties' shareholders have voted yes to the proposed merger with FountainGlen Properties LLC. They have also approved the appointment of Wells Fargo Bank Minnesota, National Association as the trustee of Pacific Gulf's liquidating trust.

Done Deal: 10,500 Acres Belong to Dallas Investor

remstaff &Globe Street | August 23, 2001

DALLAS-A Dallas investor beats out a long list of would-be buyers for a 10,500-acre ranch within a 30-minute drive of the "Big D." Buyer Raleigh Investments intends to rename the ranch, retain its working status and have fun with the acquisition.

LA Office Vacancies Rising, But So Are Rents

remstaff &Globe Street | August 23, 2001

LOS ANGELES-According to a recent report by NAI Capital Commercial, rents are climbing in the Los Angeles Basin's office sector, even as vacancy rates continue to rise. The average rental rate for class A space is currently $2.27 per sf compared to $2.16 at year-end 2000.

House Prices Soar in East Sussex

remstaff &Globe Street | August 23, 2001

LONDON-Although traditionally viewed as one of the South East's poorer relations when compared to Hampshire, Surrey and its West Sussex neighbour, East Sussex is enjoying a housing boom as prime property becomes increasingly scarce.

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W.P. Carey Acquires Two Local Properties

Meridian $30.5-Mil Sale Sets Y-T-D Record

Tellabs Delays Office Plans as Company Cuts Staff by 12%

NYC Hotel Room and Occupancy Rates to Rebound Next Year

DirecTV Dials Up $56-Mil Lease

Multifamily Rental Market Slowing

PG Shareholders Approve Merger & Trustee

Done Deal: 10,500 Acres Belong to Dallas Investor

LA Office Vacancies Rising, But So Are Rents

House Prices Soar in East Sussex

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