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SAN RAFAEL, CA-SOMA Living store is establishing a presence in Marin County with a 5,000-sf ground-level lease. The store is one of 14 to be opened in the Bay Area and 400 nationwide over the next decade.
CARY, NC-To save on real-estate costs, the area's largest corporate employer is moving from 180,000 sf in Weston One, a 220,000-sf building in Weston Business Park and 141,000 sf in Research Triangle Park. The workers will be housed in nearby offices IBM either owns or leases. Cary and Research Triangle Park are 200 miles northeast of Downtown Charlotte.
SEATTLE-New York City-based Aegis Realty Inc. is acquiring 19 community shopping centers from Dallas, Texas-based P.O.B. Montgomery & Co. and its investment partners, as well as P.O.B's ongoing development business.
CHATHAM, NJ-State Farm signs up for almost 50,000 sf of office and back office space in three counties. The largest site will be a claims processing center into which tenants will move in early next year.
OAKLAND, CA-Construction has begun on a new $12 million, 140-room hotel that will include residential-style living quarters, a hospitality center and a 24-hour convenience store. The three-story hotel is expected to open in October 2001.
CARLSBAD-A fast-growing local chain plans to slow down its opening of new restaurants, following sobering financial projections. Higher labor, food and energy costs are the problem.
ORLANDO-St. Joe Commercial, the largest commercial landlord in metro Orlando, is about to get bigger in 2001. The company is negotiating to buy four area office buildings and plans to break ground on three major office projects.
LOS ANGELES-With some utility companies considering rationing supply this long holiday weekend, millions of California commercial and residential property owners face the possibility of energy blackouts. Meanwhile, Standard & Poor's may lower their credit ratings, compounding the problem.