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HAWTHORNE, NY-In its first acquisition deal here in more than a year, Mack-Cali Realty Corp., reports it has acquired two office flex buildings here totaling 168,177 sf of office/flex space for $14.7 million.
ATLANTA-The locally based Cushman & Wakefield subsidiary arranged the transactions in Georgia, South Carolina and Alabama. The units sold for an average $33,602.
DALLAS-It's not a phenomenal year, but the distribution and logistics market is holding its own in growth. Intermodal capabilities, mortared by an above-average freeway network keep the ball rolling, say executives in Dallas and Houston.
LONDON-The downturn in the US economy has brought mixed blessings for the European hotel market. Despite worsening conditions, the overall performance has held up well, but London has been hit hard.
SAN DIEGO-Burnham Pacific Properties Inc.'s liquidation of its assets continues, selling its interest in an Orange County shopping center to a joint-venture partnership in a deal valued at $11.8 million.
CHICAGO-While a multifamily boom continues unabated in and around Downtown, Equity Residential Properties Trust president and CEO Douglas Crocker II sees a dark cloud of oversupply on the horizon.
LOS ANGELES-Property owner Shuwa Investment signs architectural firm Zimmer Gunsul Frasca up for 20,000 sf at its Downtown office complex. The practice will relocate from the nearby Wells Fargo Center.
WASHINGTON, DC-The law firm has leased over 50% of the planned 438,000-sf of office space in this mixed-use redevelopment of the historic department store. The building will deliver in 2003.
FORT LEE, NJ-Buyers might not like the high prices, but the industry certainly does. The demographics of the country's richest state are also a factor in keeping the market solid.
BOCA RATON, FL-The developer-operator of wireless communications towers reports that second-quarter net losses increased by 195%, though revenue rises by about 50%.