PORTLAND-The vacancy rate fell for the fourth consecutive quarter, but net absorption was just 460,000 sf, the lowest total since the market began its recovery late last year. The good news is that half of that absorption occurred in the R&D/Flex-heavy Sunset Corridor, which has been slow to rebound.
TEL-AVIV, ISRAEL-The locally based and publicly traded company's Plaza Centers subsidiary agrees to sell four shopping and entertainment centers to Dawnay Day Europe Limited for euro 56.5 million ($72 million) in cash and debt. However, Klepierre Group has the right of first offer for the properties.
SEATTLE-The new owner, investor Joe Brotherton, tells GlobeSt.com he's got several options for utilizing the vacant 75,000-sf building at 1800 Terry Ave., which he acquired for about $4.5 million.
SAN FRANCISCO-The Brussels-based global shipper lands a sublease tenant for the remaining term of most of its 95,000-sf office leasehold at 50 California St., according to the company's real estate broker, Chris Roeder of Cushman & Wakefield.
STRONGSVILLE, OH-Evergreen Development LLC pays $25.6 million for a 125,000-sf office building here that serves as headquarters for a life insurance subsidiary of Ceres Group Inc.
DUBAI-Locally based developer Emaar Properties hands Balfour Beatty a $735-million contract to construct a 14-million-sf retail center called Burj Mall, which will sit adjacent to the $1-billion Burj Tower, the world's tallest office building.
DUBAI-Locally based developer Emaar Properties hands Balfour Beatty a $735-million contract to construct a 14-million-sf retail center called Burj Mall, which will sit adjacent to the $1-billion Burj Tower, the world's tallest office building.
SEATTLE-The Dallas, TX-based broker of multifamily, commercial, and SBA mortgages opens its first Washington office near the City of Woodway, with plans to open a second office in Downtown Seattle before the end of the month. Several other offices are planned as part of the company's West Coast expansion.