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DENVER-With the sector's vacancy rate down a point to 4% and average rental rates up to $6.47 per sf, the local industrial market remains strong despite an absence of construction activity by local major developers.
HOUSTON-Two down, one more to go in public input sessions in Galveston, where officials are weighing a port merger with the Port of Houston. Galveston is the only required voting entity that has not OK'd the merger plan.
ATLANTA-The bottling firm is subleasing 17,000 sf at Northcreek Office Park from United Acceptance for two years at an undisclosed rent. United Acceptance had been subleasing the space from Alexander Howden North America. Buckhead/Lenox submarket class A asking average rents are $28.62 per sf.
NORTHFIELD TOWNSHIP, MI-This mostly rural township 40 west of Detroit is in high demand for development since installation of sewer system. Midwestern Consulting LLC of Ann Arbor shares plans with township officials.
WASHINGTON, DC-Activists held a day of protest on July 10 against Pacifica board chair Ken Ford and his employer, the National Association of Home Builders. Donna Reichle of the NAHB tells GlobeSt.com the issue is unrelated to the organization.
SAN DIEGO-Westcore Industrial Properties signs two more tenants, both at Miramar West Business Park. A communications company signs on for 10,000 sf and a web design firm takes another 3,000 sf.
NEW YORK CITY-The three-year facility is secured by 24 office properties in New Jersey, Boston and Baltimore/Washington, DC. Terms include interest at LIBOR plus 2.9% per year and an initial maturity in June 2004.
GLENDALE, AZ-A group of Chicago investors has closed a $4.6-million deal in the Valley's healthiest industrial market. The Glendale property, a 106,000-sf warehouse, has garnered $43.50 per sf for seller Jim Lewis of Denver.
DENVER-Fentress Bradburn Architects designs South Korea's $1.1-billion terminal at Incheon International Airport. The airport is expected to serve 27 million passengers this year and 100 million passengers annually by 2020.