Commercial real estate instant insights for powerful business research, trends, and extensive education and information on CRE markets, practices, industries and sectors
Become a GlobeSt influencer! Learn about our latest recognition opportunities highlighting the individuals, firms and teams changing the commercial real estate landscape.
MEMPHIS, TN-RFS Hotel Investors Inc., which has three properties in the Carolinas, has completed a rate swap agreement with PNC Bank to avoid exposure to future rate volatility on its 59 hotel, 8,600-room-portfolio.
SAN FRANCISO-Vacancies in class B space have risen from 2.3% at the end of the year to 16.5% today, and their rents have fallen to $55.32 per sf from $72.96 per sf a year ago. Class A offices rents are down to $74.16 per sf from $80.16 per sf in December.
BOCA RATON, FL-Locally based Concord Assets Group Inc. agrees to pay $2.65 per outstanding share for control of the commercial real estate investment company based in this city 42, miles north of Miami.
SEATTLE-Colliers International's first-quarter vacancy rate survey shows a figure of 7.8% for Downtown, more than double the 3.5% recorded at the end of 2000. The amount of sublease space also has nearly doubled.
ARLINGTON, TX-A 48,108-sf standard industrial building in the Great Southwest Industrial Park has snagged about $1.4 million for a health supplier. Also, a drug research business has expanded its lease in Dallas' medical corridor.
VANCOUVER, WA-In the works since last fall, preliminary plans filed this week have the company widening an I-5 exit ramp and a frontage road in order to obtain building approvals for a 143,000-sf store in the Salmon Creek area.
KANSAS CITY-A new parking garage will be built first for the Nelson-Atkins Museum of Art. That will be followed by construction of new 140,000-sf wing. The entire $115-million project is expected to be completed by 2005.
NEW YORK CITY-Former Human Resources Administration Deputy Commissioner Deborah Pollock and others have been indicted on charges of stealing as much as $300,000 in welfare housing funds. Hale House is still in hot water, too.
AUSTIN-The Austin Design Commission is looking to standardize a project checklist for Smart Growth incentives so that aesthetics can't sway project approvals. The proposed changes are being readied for presentation to the commission in May.