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DALLAS-The southwestern US industrial market has reached near record highs in several metropolises. There's little room at the inn while under-construction projects are seeing a surge in pre-leased space. Meanwhile, it's wait-and-see about 2001.
TAVARES, FL-LCT Transportaiton, formerly Lester Coggins Trucking, a 25-year-old, 500-employee Okahumpka, FL-based firm, is recruiting some of the laid-off drivers but is showing no initial interest in taking over AG's estimated five-year lease. Tavares is 40 miles northwest of Downtown Orlando.
NEW YORK CITY-Last month alone approximately 1.8 million sf of space was leased or sold in just Manhattan in all of the market sectors. The majority of it was office space.
BELLEVUE, WA-The sale to Schnitzer Northwest of Kirkland removes the last remaining obstacle to Schnitzer Development Corp.'s $300-million, 1.5-million sf multi-use development planned for the five-acre site.
DENVER-AmeriVest has named CEO William Atkins to fill the shoes of outgoing chairman Charles. R. Hoffman. Hoffman has led the company for seven years. The board also has elected a new board director from the veteran ranks of the real estate industry.
PORTLAND-Industrial vacancy rates are at their lowest level since 1995. The vacancy rate in warehouse and manufacturing space dropped four full points in 2000, net absorption posted an all-time high of more than five million sf, and rental rates were up.