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WASHINGTON, DC-The Route 1 and Interstate 95 corridor between the District and Baltimore is strongest submarket, as it builds on a base on non-technology tenants. Northern Virginia vacancy rates are expected to soar as technology projects are put on hold or remain unleased.
GLENDALE, AZ-The Trammell Crow Co.'s Phoenix office is quarterbacking a plan to build a major employment center on 158 acres near the Phoenix Coyotes' arena site. By Q2 2002, final signoffs on a needed annexation should be in hand.
WASHINGTON, DC-A year ago Northern Virginia office real estate soared with the fortunes of technology companies. Those fortunes have evaporated, and the District is now sitting on top of the heap, while Maryland continues to pull up third place.
CHICAGO-AMLI Residential Properties Trust reports a 23.3% increase in property taxes on its nine suburban properties in Cook, DuPage, Kane and Lake counties, a hit being taken by many other owners throughout the market.
RICHARDSON, TX-SBC Communications Inc. has dotted the "i's" and crossed the "t's" on an $18-million loan for its 174,825-sf office building in Richardson's Telecom Corridor. GE Capital Business Asset Funding provides the capital at 7.8% in a GMAC-structured deal.
DETROIT-A West Bloomfield, MI researcher paints a portrait of struggling Detroit area office market, but believes it can be saved with a halt to construction and cautious dealing.
SACRAMENTO-Working on a steep hillside slope, crews have just begun demolition of a small building on the site. The 76,000-sf, three building vocational training facility is 13 months out. DPR Construction is the general contractor.
DALLAS-The lead tenant at Dallas' Centura Tower is bucking a sit-and-wait trend and following one market watcher's advice that now is the time to expand. Publicis Worldwide Communications Group has boosted its lease to 112,712 sf.
PLANTATION, FL-Instead of doing its own inhouse leasing, the Tampa, FL-based office developer is going with C&W to fill the newly constructed Royal Palm at Southpointe office park in this Broward County community 24 miles north of Miami.
WASHINGTON, DC-In the deal, which covers 12 buildings that have already been wired for access, Cogent is presently the exclusive provider of high-speed Internet and data services.