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HOUSTON-The three-building Loop Central Drive office project has 326,310 sf on the market, thanks to the departure of Jacobs Engineering from 292,821 sf in the project. Jacobs has moved into a new owner-occupied structure.
ORLANDO-Rents have shot up 5.4% to an average $720 per month, the highest among Central Florida metropolitan statistical areas as vacancies hit a new high of 9%, a new study by San Francisco-based Marcus & Millichap finds. This is a good time to sell B and C properties, the brokerage suggests.
CHICAGO-Don't expect "free rent" signs to start going up on vacant office space - at least for now. However, the word "concession" has re-entered the vocabularies here for leasing brokers and owners.
DETROIT-Italian publisher l'Arca Edizioni produces a new book, "Albert Kahn Associates -- Continuing the Legacy," featuring the firm's work on such projects as the Detroit Opera House and Providence Medical Center in Novi, MI.
DETROIT-A study says increased diversification and well-balanced workforce will minimize the county's risk of a severe recession. Oakland County's high-tech workforce of 167,568 is the third-highest among US counties.
SANTA ANA, CA-Santa Ana Unified School District and Rancho Santiago Community College District are charging that land allocated to them from the former Marine base is so polluted that it's chasing off its mostly Hispanic student body.
FORT LAUDERDALE, FL-Delivery of new product in the first quarter, though, pushes overall vacancy rates upward in Broward, Miami-Dade and Palm Beach counties and provides tenants with some short-term leasing opportunities. Fort Lauderdale is 26 miles north of Miami.
SAN FRANCISCO-According to a report from Grubb & Ellis, the San Francisco office leasing market is showing signs of stabilization in the central business district, but the area south of Market Street has vacancy rates of more than 20%.
AUSTIN-USOL Holdings is on the move again, buying select assets from a Sprint subsidiary in Houston and securing a Gables contract in Arlington. The Houston contract solidifies existing partnerships and adds some new players.
PETALUMA, CA-There are a number of good tenant prospects for the 42,410-sf Steelhead Center due to be delivered to the local market in Spring 2002, according to Brian Eisberg of Orion Partners Ltd., the company marketing the project.