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PHOENIX-Retail space in the Phoenix metropolitan area should end the year with a vacancy rate at or below 5%, but that rate is sure to rise at least slightly in the coming year, with dozens of grocery store locations coming on the market.
AUSTIN-AMLI Residential has ended the year on a high note, reaching stabilization and lease-up of seven apartment communities nationwide. Austin's Monterey Oaks is the point man in the lease-up category.
BOSTON-Westbrook Partners continues to penetrate the area as it acquires 50% of One Beacon St. Nearly a quarter of the 1.1 million sf of the office tower will soon be available, which is a substantial amount of space in a market that is still fairly tight.
PHOENIX-A sudden glut of grocery space coming onto the market could cause a historically low vacancy rate for retail space to go up slightly in the coming year.
SEATTLE, WA-The Seattle Public Library would pay $1.2-million for the bank site at 2821 Beacon Ave. S., pending the okay of the library board of trustees when it votes on the issue in late January.
ORLANDO-Despite a so-so Christmas sales season, only three out of 12 submarkets are showing vacancies over 10%, according to a Grubb & Ellis Co. study.
ORANGE COUNTY, CA-Privately held Burke Real Estate Group pays $5.7 million for 13.8 acres inside Talega Business Park in San Clemente to build more than 210,000 sf of mixed-use space.
SAN DIEGO-Report by local trade association says countywide vacancy factor of 1.6% is lowest since the height of the last real estate boom. Separate report says sales are soaring in lockstep with rents.
DALLAS-Redback Networks and AmeriServe have sealed year-end deals in Frisco and Dallas, respectively. Redback's 11,506 sf represents an expansion while AmeriServe, in the midst of a bankruptcy, has signed for 15,022 of short-term space.