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DALLAS-A quartet of Bradford Cos. employees has exited to form a brand-new commercial real estate company. Maverick Commercial gets to office in the same spot as Bradford's North Dallas office, which is at corporate headquarters.
LOS ANGELES-A new report from Grubb & Ellis that looks at the impact of the state's energy crisis on the telecom real estate market suggests that the problem will be resolved before a tech exodus could take place.
AUSTIN-Stratus Properties is moving on a second office project in its 500-acre Lantana development. The $11.5-million undertaking is jumpstarted with a 77,500-sf, value office building, with class-A finish.
ANAHEIM, CA-The most recent report released by Voit Commercial Brokerage suggests that the county's industrial market is softening, but activity remains strong.
CHARLOTTE-The fourth-quarter 7.65% overall vacancy level could reach 10% or 11% this year before edging downward again, CB Richard Ellis Inc. analyst Ryan Clutter tells GlobeSt.com. Downtown's vacancy is only 2.17%.
MANSFIELD TWP, NJ-A local development partnership has re-activated plans for the high-tech/flex project, now named Riverwood Park, with 11 building sites being actively marketed. Only the construction of a 24,000 sf structure has been achieved to date.
CAMBRIDGE, MA-The New England Confectionery Company plans to relocate its manufacturing facilities from its 75-year old building here to more modern facilities. Despite speculation, plans for the company's building remain unclear.
DENVER-The city's multifamily market is healthy, concludes the latest research analysis by Marcus & Millichap's Denver office. There will be 30% fewer apartments breaking ground this year.
TAMPA, FL-The Chicago firm paid View Properties Ltd. $1.8 million or $15,000 per acre (34 cents per sf) for a 120-acre tract at Bridgewater in Lakeland, FL, one of the most active distribution centers in Florida. Lakeland is 60 miles south of Downtown Orlando. Tampa is 80 miles west of Orlando.
PORTLAND-The local chapters of the Building Owners and Managers Association, the Institute for Real Estate Management and the Society of Industrial and Office Realtors are urging their members to back a delay in the implementation of energy deregulation.