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LONDON-New research from Catella shows prime West End rents have fallen 12% in six months. And the agent reports that the City market is off 8% over the same period.
DALLAS-Attorney Joe Geary challenges a 10-minute gap in a legal posting and the start of a meeting that resulted in Palladium's $43-million incentive package for its $600-million Victory project. Geary's clients want new votes by the TIF board and council.
NEW YORK CITY-Retail management technology provider QRS signs an eight-year deal at what was briefly the world's tallest building. Previous tenant iWon.com moves downstairs to the 35-story property's second floor.
WASHINGTON, DC-The recently shuttered Columbia Hospital for Women will likely be reborn as an apartment property now that the 230,000-sf facility has been put on the market.
NEW YORK CITY-Community Board One has fired the opening salvo in what promises to be a fierce battle over the proposed Edward J. Minskoff building at 270 Greenwich St. Board members say it's too big, too tall, and totally ill-conceived.
PORTLAND-SKB paid $20.76 million for residential and retail development at 23rd and Northwest Burnside, which includes the 72,000 sf shopping center, 47 apartment units and a "potentially developable pad" of about 55,000 sf. The acquisition--its first in Portland--closed late last week.
HOUSTON-A partnership of real estate companies from three states buys 3600 Woodchase, jumpstarting a renovation for repositioning. The seller, part of the Richman Group of Greenwich, CT was asking $7.7 million.
NEW YORK CITY-Lance T. Shaner has given up his quest to acquire a 51% stake in Interstate Hotels, thereby leaving one less obstacle in the path toward a merger between Interstate and MeriStar Hotels & Resorts.
WASHINGTON, DC-The historic Army and Navy Club Building sells for $37.4 million to Chicago's Equity Office Properties Trust. Formerly the property of Dutch Metal Workers Pension Fund, the 100% leased, 170,000-sf structure is home to the 117-year-old club, as well as business tenants.
IRVING, TX-Archon Group's 100,000-sf headquarters renewal at 600 Las Colinas Blvd. pushes the 510,000-sf asset's sales team into action. The Dallas area has three trophies on the open market and two under contract or close to it.