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BOSTON-State Street Corp. has signed a deal to lease the entire office tower being built here at 1 Lincoln St. near South Station. The 1.1 million-sf tower won't be ready for another two years.
ATLANTA-The locally based hospitality owner/franchiser reports a 3% increase in April compared to an average weekly rate of $155.17 at the same time last year, exceeding the hotel industry norm so far this year.
ORLANDO-The nation's biggest thrift names John Woodworth to oversee 30 branches in Central Florida where he has five new locations under construction and is close to completing deals on five other sites. He is looking for more properties to lease or buy.
NEW YORK CITY-Yesterday (May 10th) several commercial brokerage firms met to elect officers for what could be the first local chapter of the New York State Commercial Association of Realtors, the commercial wing of NAR.
SAN DIEGO- CBRE's central county office is reporting four smaller industrial transactions this week. In one deal, Elgar Corp. signed a five-year lease for 9,140-sf of industrial space at 9215 Brown Deer Road in San Diego. The deal is valued at $445,536.
PHOENIX-A group of Scottsdale investors now hold the title to an 880,000-sf distribution center, once housing Revlon, and adjacent acreage with the potential for 350,000 sf of development. The properties are located in the West Valley.
AUSTIN-In a bold move to move space, software manufacturer Trilogy has cut $4 per sf to $6 per sf off its sublease asking price. The 50,620 sf is situated in three class-A buildings. This could be a portend of things to come for sublease marketing.
LOS ANGELES-As the threat of rolling blackouts hangs over building owners across the county, a diverse group of investors has committed $50 million to LA-based RealEnergy, a new company that plans to install onsite power systems in commercial properties nationwide.