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KENT, WA-Two grocery companies this week announce they will be delivering nearly 700,000 sf of distribution space back to the Kent market. Scott Alan, an industrial expert with Colliers International talks about the impact and the market's status.
NEW YORK CITY-Rate increases of more than 25% were seen in four markets and only two reported decreases. San Francisco, Boston and Midtown New York City took top honors. Rents in Atlanta rose only 0.4% and slipped 1.7% in Los Angeles.
LOS ANGELES-The 24,635-sf, fully leased office building in Hermosa Beach has sold for $5.4 million. The building's major tenant, occupying half the space, is Aon Corp., the insurance brokerage and underwriting organization.
CHICAGO-Julien J. Studley, Inc. predicts office rental rates could drop from 10% to 15% by late 2002 thanks to new developments coming on line. But one of those developers is generally optimistic considering the circumstances.
LOS ANGELES-Next Friday's daylong program and exhibition is aimed at helping Southland building owners and managers develop strategies to cope with power outages and rising energy bills.
ST. PAUL, MN-High property tax rates and neighborhood resistance are among factors blamed for the lack of multifamily housing. Legislators are looking at major property-tax reform that could address the issue.
TROY, MI-The Kojaian Cos. says a lease has been signed with InterOne Marketing Group for 90,000-sf of the Troy Tower, the new name for the former Bank One building, which also will undergo a major renovation.
DALLAS-Cushman & Wakefield has promoted Elizabeth Trocchio to senior managing director in Dallas, a post that's been vacant for three months. Change is coming, she says. Retail, maybe an Austin office and uniting the Texas team are on the agenda.
JACKSON, MI-The Midwest retailer plans to open new stores in upscale Ohio markets with its 80,000-sf, two-level format introduced at Meridian Mall here last year and has arranged for better financing.