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SEATTLE-Developers are converting more warehouses here for use as telecom data facilities, which fetch several times more per sf than traditional industrial space.
CHICAGO- The nation's largest industrial REIT will develop a huge, 1.7 million-sf distribution facility for the consumer products giant in Scranton, PA. The new project is indicative of the kinds of "value added" development deals First Industrial is aggressively pursuing as the REIT refocuses its business strategy.
VANCOUVER, WA-The two injection molding firms in June said they would consolidate operations at Puget's headquarters. They have instead set up in TriQuest's 3.25-acre, 100,000-sf plant at 3000 Columbia House Blvd.
FT. WORTH-David M. Sherman will be joining the board of trust managers for Crescent Real Estate Equities Co. Sherman's experience is being touted as valuable to take Crescent "to a new level," says the REIT's CEO.
ATLANTA-The deal with affilates of J.P. Morgan Investment Management Inc. and General Motors Asset Management includes 17 properties in the metro area totaling 2.57 million sf and 58 acres of undeveloped land with a development potential of 800,000 sf.
SAN CARLOS, CA-The provider of network computing solutions signs a 39,500-sf, 10-year lease at Spieker Properties Skyway Landing development. Sun will occupy the space, formerly leased to InsWeb, this December.
AUSTIN-The city's high-tech sector gets some relief with the opening of a new staffing office that focuses on personnel for the state capital's booming businesses. The opening marks the 25th location worldwide for the staffing business.
CHARLOTTE-Peak 10, a Jacksonville, FL-based company that rents network infrastructure and broadband services, plans to relocate its headquarters here by year end.
BELLEVUE, WA-Steven Sarkozy, currently the city manager for the 34,000-person town of Roseville, Minn., is expected to take over this city's top post in mid-November.