PHILADELPHIA-Of 22 low- to moderate-income housing programs that will receive funding from the Federal Home Loan Bank of Pittsburgh, nine are in Philadelphia. The grants leverage $106.4 million in development costs for more than 900 units.
ATLANTA-Spurred by rent cuts and concessions, Atlanta's apartment market realized solid demand during the April-June quarter for the first time since summer 2000, according to a study released this week by Dallas-based M/PF Research. Monthly rents average $800 a unit.
PHILADELPHIA-Westmoreland County-based Premium Molding LLC obtains a $2.9-million low-cost loan from the Pennsylvania Economic Development Financing Authority to build an 80,000-sf plant in the Westmoreland Airpark development outside Greensburg, PA.
PHILADELPHIA-Large amounts of empty speculative office space combine with an increase in subleases and continuing new construction to push the suburban Cincinnati office vacancy rate toward 16% in 2002, according to research by Encino, CA-based Marcus & Millichap's Cincinnati office.
ATLANTA-The Philadelphia-based firm's new office is headed by Daniel B. Lambert, a 30-year real estate veteran. Legg Mason Real Estate Services has 19 offices in 10 states.
PHILADELPHIA-The local subsidiary of Baltimore-based Legg Mason Inc. bolsters its investment advisory group by hiring the 16-year commercial real estate veteran. Enda Bracken moves from AIG to direct asset management at LMRES and pursue a broad spectrum of property types.
ATLANTA-Bank of America, Penske Logistics and a local fast food supplier are taking space at the two-building, 287,520-sf property near Hartsfield Airport for an estimated aggregate rent of $2.17 million. The speculative joint venture between Lincoln Property and AIG was completed last month.
PHILADELPHIA-Large amounts of empty speculative office space combine with an increase in subleases and continuing new construction to push the suburban Cincinnati office vacancy rate toward 16% in 2002, according to research by Encino, CA-based Marcus & Millichap's Cincinnati office.
ATLANTA-The locally based provider of insurance services leases 6,500-sf in Franklin, TN-based Cumberland Advisors' six-building, 209,800-sf class-A office property in the Nashville suburb of Franklin.
ATLANTA-At mid-year, Atlanta's office absorption stands at its lowest in a decade, according to Richard Bowers, president of locally based Richard Bowers & Co. Overall rental rates average $21.53 per sf. Buckhead leads the submarkets at $26.34 per sf.