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BOSTON-While all signs point to a softening commercial real estate market here, CRESA Partners, a corporate real estate advisory firm specializing in tenant representation, negotiates a number of leasing deals for its clients here and in the surrounding areas.
SAN FRANCISCO-Gray, Cary, Ware & Freidenrich leased about 34,000 sf in an office building now under construction directly across the street from Pac Bell Park and adjacent to Mission Bay. The law firm is headquartered next door to the site.
ATLANTA-Funds from operations at the locally based REIT are $10.5 million compared to $12.8 million last year. The company is paying a quarterly dividend of 30 cents per share ($1.20 annualized) on its common and preferred stock for the quarter ending June 30.
CUPERTINO, CA-Prometheus Real Estate Group and the Kimpton Hotel and Restaurant Group have begun construction here on a 206-unit luxury apartment complex and a 224-room, four-star hotel.
KENT, WA-TMX Aerospace provides supply-chain management services that streamline the flow of raw materials for the Boeing Commercial Airplane Group and its worldwide suppliers. According to TMX officials, the new lease was made to get closer to the Boeing plant.
BETHESDA, MD-Westfield America officials say the joint venture with JP Morgan Fleming Asset Management Inc. in the Westfield Shoppingtown Montgomery will help them reduce debt and free up capital.
SAN DIEGO-The 87,000-sf facility, by a major developer and operator of athletic clubs on the West Coast, will include all manner of sport courts as well a fitness center, a full-service day spa, a sports medicine clinic, pro shop, and cafi.
EUSTIS, FL-Johnny Smith, the 61-year-old president of Lake Mechanical Contractors Inc., a major Disney-qualified subcontractor, was beaten by deputy property appraiser Frank Royce in a special city election to fill a vacant commission seat. Eustis is 32 miles northwest of Downtown Orlando.
EATONTOWN, NJ-Acting as exclusive leasing agent for the 79,000 sf flex building at 95 Hope Rd., the Schultz Organization has closed several new lease deals for the property.
SOUTHFIELD, MI-Joel Gershenson, Bruce Gershenson and Michael A. Ward will serve on an advisory committee, undertaking specific project-oriented tasks, opening up opportunities for other executives, says the company's CEO.