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CAMBRIDGE, MA-This area's office market is suffering more than most in the recent economic slowdown and high tech bust. Its heavy emphasis on high-tech tenants has caused its vacancy rate to plummet with no signs of a recovery on the horizon.
ATLANTA-The Tampa, FL-based manufacturer of women's casual and dress sportswear plans to make a cash tender offer of $4.75 per share for the Winder, GA firm's 2.9 million outstanding common shares. The cash-and-stock deal is valued at $20.8 million.
LONDON-Construction costs in the UK are soaring ahead of inflation, according to the latest RICS tender price index compiled by the Building Cost Information Service.
LOS ANGELES-Buoyed by this city's plans to create a sports and entertainment district Downtown, Palm Restaurant has leased 13,500 sf in the Toy Center Building and plans to open a new restaurant there by January 2002.
NEW YORK CITY-The slump may not go away quickly, but that leaves the door wide open for the right play, say directors of the locally based opportunity fund.
DENVER-The company's investment strategy to "buy cheap" and operate efficiently makes the REIT's stock a "solid investment" in challenging economic times, according to an analysis by UBS Warburg LLC.
AUSTIN-Data Tomato Inc. has ended a yearlong search for more CBD space that's within budget. The high-tech company has shaved between $3 per sf to $4 per sf by waiting for prices to drop. Data Tomato is taking sublease space from Tech Partners.
MORTON GROVE, IL-An 84-unit, eight-story luxury multifamily building is the first phase of The Woodlands of Morton Grove, a condominium and townhome development near this near north suburb's Metra depot.
WASHINGTON, DC-The nation's largest provider of home financings will redeem 17 securities before their maturity dates, totaling $1.585 billion. The maturities are slated for July 9 for the principal amounts plus interest.
MIAMI-A new report by Cushman & Wakefield of Florida Inc. shows vacancies at 14.6% in Broward, up 1.1%; and 14.2% in Dade, up 2.9%. Palm Beach County's vacancy rate moved down slightly in the second quarter from 12.9% to 12.8%.