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NEW YORK CITY-Metro New York/New Jersey and California will offer the best multifamily buys over the next five years. Areas to avoid are the Rust Belt and the South, particularly Central and Northern Florida.
STAMFORD, CT-While the Westchester County office vacancy rate remained relatively stable in the second quarter at 11%, a broker with CB Richard Ellis says that demand has definitely softened recently.
HOUSTON-The Cy-Fair Independent School District has joined with the city in granting a Freeport Tax Exemption to Alamo Crossing Commerce Center. The 1.3 million-sf industrial park is poised to offer more tax incentives to its tenants.
BOCA RATON, FL-In a puzzling transaction, the publicly traded Boca Raton-based resorts developer pays $7.1 million or $109,230 per unit for a distressed 65-unit, 62,044-sf property in the seaside community of Surfside, nine miles northeast of Miami. Buyer and seller didn't respond to GlobeSt.com's request for comment.
WALNUT CREEK, CA-The contracts, spanning a variety of uses and owners, cover more than 255,000 sf of space in the San Francisco Bay Area, pushing Colliers close to 9 million sf under management in the region.
RENTON, WA-Christopher E. Burdett, a vice president with Colliers International Hotels in Seattle, tells GlobeSt.com the second quarter has begun to bustle around Puget Sound's institutional hotel market. The most recent transaction involved two new wood-frame Marriotts and Hospitality Properties Trust.
LONDON-The UK commercial property market has shown a significant slowdown, according to a new survey from agents GVA Grimley and the Confederation of British Industry.
SALEM, OR-Three brokers and four builders have formed EcoWest, a new development company that plans to acquire and develop property throughout the Northwest. It's first project is Marion County's Franklin Building.
AUSTIN-A special state board's sign off opens the door for Cencor Urban Properties and Post Properties to start the development process with Austin. The Triangle could break ground in 2002 if all goes well.
LOS ANGELES-Specialty Surgical leases 12,578 sf of office space for 10 years at Encino Executive Plaza. Encino, as well as neighboring Sherman Oaks and Woodland Hills, command some of the highest rents in the San Fernando Valley.