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WASHINGTON, DC-Local developer has completed the new, 380,000-sf office building, while maintaining 1924 limestone facade. The building is 88 percent leased.
BELLEVUE, WA-Private Asset Management president Michael L. Thayer says he's seen a lot of local deals come across his desk recently and few are looking reasonable, forcing him outside the area when investing clients' assets in commercial real estate.
SAN FRANCISCO-The firm will pay $5 million in rent annually for land on which it will build a 900,000 SF complex with a 1,500 space underground garage. The deal accounts for 14% of the annual revenue expected from the old army base.
LONDON-Industrial vacancies are beginning to rise again as the economy slows. The latest industrial floorspace survey from King Sturge shows vacancies up 10.3% year-on-year, with 157 million sf now available across Great Britain.
LOS ANGELES-The renovation of the 70,605-sf facility is being celebrated today with a ribbon-cutting ceremony. Touted as West Hollywood's first class A office building, the property formerly housed the Playboy Corp.'s headquarters.
LONDON-The shopping centre investment market has recovered after a slump in activity during the second half of 2000. CB Hillier Parker calculates that 27 malls changed hands in the first half of 2001, in line with the long-term average.
SIGNAL HILL, CA-Private investor F&B Properties purchased the multi-tenant industrial park from publicly traded, San Francisco-based Rreef. The eight-building Walnut Avenue Business Park was 93%-occupied at the time of sale.
ATLANTA-The drooping high-tech sector is taking the area's office inventory down with it, dumping 4.5 million sf of sublease product in a market where net absorption in the first half dropped to 1.07 million sf versus 4.43 million sf a year ago.
THOUSAND OAKS, CA-The tenant will occupy 4,241 sf of office space in the 42,000-sf Los Robles Professional Park. The medical group is relocating from another Thousand Oaks site, due to its growth needs.