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CHICAGO-LaSalle Bank chief economist Carl R. Tannenbaum hates to hear the "r" word because he thinks the economy is in for a soft landing. However, he warns retail brokers to be "very, very careful" in 2001.
ISSAQUAH, WA-The 570,000 sf development now under construction at Opus Northwest's Sammamish Park Place will become the software giant's next campus, bringing its occupancy of Eastside office space to an estimated 8.4 million sf.
DETROIT-Rental rates dropped by more than 10% in the past year, according to the realty firm's fourth-quarter industrial report, but sales and lease activity are evidence of a strong market.
ORANGE COUNTY, CA-The latest report released by M/PF Research shows new product under construction at triple the amount of product delivered last year.
AUSTIN-Endeavor Real Estate Group is undertaking a 34.5-acre retail project in Austin's Tech Ridge area. The developer already has signed two anchor retailers and is looking for a third.
NEWTON, MA-Teachers Insurance and Annuity Association sells Two Newton Place here for $25.9 million or $238 per sf. Local brokers consider the price relatively high for the Boston suburban office market.
HOUSTON-Two tenants at San Felipe Plaza have signed lease renewals totaling 21,411 sf. Staying put are Elf Trading Inc., a subsidiary of Total FinaElf and the law firm of Manning, Gosda & Arredondo.
FORT LAUDERDALE, FL-The locally-based developer attributes weak market demand in its decision to consider repackaging loans on the $30-million, 214,000-sf project. Still, demand by national retailers for more space continues at the Pembroke Pines, FL site.
GRAND PRAIRIE, TX-The Ramsey Family LP, based in El Paso, has bought its first holding in the metroplex. The 45,000-sf building in the Great Southwest Parkway Industrial Park has fetched between $1.3 million and $1.6 million.