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DALLAS-Most likely, the waning demand in the region's telecom space is but a temporary lull for the industry. Still, it comes at a time when about 3.6 million sf is about to deliver, says the latest Grubb & Ellis market trend report.
LONDON-As further indication of the growth of Boston's North Station market, Daejan Holdings PLC increases its presence in the US by paying $21.3 million or over $200 per sf for a 102,000 sf building. This is the locally based company's fourth building in the city.
INDIANAPOLIS-Trammell Crow Co. takes over management and leasing responsibilities for CalEast Industrial Investors, LLC's 14-property, 733,000-sf portfolio. The two business parks were sold by Heitman Financial, LLC.
KANSAS CITY-A $3-million renovation of Walt Disney's original studio is seen as a way to pay tribute and help promote the Troost Avenue corridor, a blighted area along a major north-south thoroughfare.
HOUSTON-Schlumberger Omnes and the law firm of Gay & Reitz have sealed leases for new offices. One heads to Geoquest Center and the other to the Gemini Building in southeast Houston. In all, 24,340 sf has been taken.
KANSAS CITY-Plans call for a new urbanism neighborhood, with 550 residential units, 50,000 sf of retail space and 16,000 sf of office space in long-blighted part of Downtown that once was the site of Municipal Stadium.
LONDON-Over the next three years, Bass will spend $108 million to bring the properties up to the standard of its Holiday Inns. About 15 hotels will not be kept because they aren't suitable for upgrading or are near an existing Holiday Inn.
WASHINGTON, DC-Low interest rates will fuel growth across all areas of the market, according to the NAR, which predicts a record being set for new-home sales and the second-best year ever for existing-home sales.