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LOS ANGELES-Experts say Southern California's multifamily market should get even stronger next year, despite solid gains in construction and a widely anticipated economic slowdown.
TYSONS CORNER, VA-Three new tenants take Building II of the Westpark Corporate Center to a 95% occupancy rate. EMC, Legg Mason and Northwestern Mutual Life are now leasing the space in the complex.
CHARLESTON, SC-Bridgeside Co. paid $3.5 million or $1.66 million per acre ($38.26 per sf) for a prime 2.1-acre parcel near Patriot's Point. The four-story, 120,260-sf Bridgeside Center project, planned on the site, is 180 miles south of Downtown Charlotte.
SOMERVILLE, MA-Emphasizing the plan's lack of mixed-use development, Mayor Dorothy Kelly Gay rejects Ikea's proposal for development at Assembly Square. The Swedish furniture company says it will resubmit another proposal.
MT. OLIVE, NJ-Strategic move said to be a plus for all concerned, but it's too early to determine the impact on Knoll employees and the company's real estate holdings.
NEW YORK CITY-The newly built Bridge Tower Place on the East Side of Manhattan is not yet ready for occupancy, but DeMarzo Realty has been actively marketing the 218 residences within the condominium building.
ATLANTA-Post Apartment Homes is selling $185 million of 10-year, 7.7% senior notes rated BBB+ by Standard & Poors and Baa1 by Moody's Investors Services. The proceeds will reduce balances on the company's revolving line of credit.
SHELTON, CT-Cushman & Wakefield of Connecticut has been awarded the exclusive leasing assignment for the current home of Philips Medical Systems' North American headquarters. The company is relocating next summer.