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BOSTON-Last year, Boston's Downtown office properties weren't even ranked in the top ten for investment by Integra Realty Resources. But, this year, the city came in number two. It's also ranked seventh for investment in the suburban office market.
WASHINGTON, DC-David B. Cardwell will join the National Multi Housing Council as its vice president of finance and technology. Most recently he had been Freddie Mac's senior manager of product development.
CHARLOTTE-All of a sudden, Statesville, NC (Pop. 23,000), 35 miles north of Downtown, is a magnet for land-hungry developers. Nearby Mooresville, NC is another hot pocket. Distribution and industrial sites are commanding attention.
SAN FRANCISCO-Travelocity.com is taking more than 42,000 sf at 303 Second Street in the South Financial District being subleased by SmartAge.com, Meanwhile, in the North Financial District, Washburn, Brisco & McCarthy signed on for 25,000 sf at 111 Sutter Street.
MINNEAPOLIS-Big surge in subleased space is part of the reason for a rise in the office vacancy rate to more than 10%, the first time it's been there in five years, according to a Grubb & Ellis report.
ALANTA-The locally based company is expanding into the industrial area of Las Vegas valley with a new 1,100 megawatt natural gas-fired power plant in the 90-acre Apex Industrial Park. Cost of the project wasn't disclosed.
SAN DIEGO-The nation's largest provider of title insurance has signed a definitive agreement to form a real estate joint venture with locally based VISTAinfo, the companies announced Monday.
CHICAGO-Investors Equities Corp. buys 80,000-sf 224 N. Des Plaines Ave. from financial services company FINOVA Capital Corp. after HSA Commercial remodels and re-leases the office building.
SANFORD, FL-The Inspector General's office of the U.S. Department of Housing and Urban Development and the FBI raided the board's quarters and broke into the locked office of resigning executive director Timothy M. Hudson to seize 106 cartons of files and eight computers. Sanford is 30 miles north of Downtown Orlando.
BALTIMORE, MD-Kramont Realty Trust sold the 173,000-sf shopping center for an estimated $6.3 million to a local office developer. The center contains a vacant three-story department store building.