ATLANTA-The picture isn't a pretty one for this city's office sector. Overall vacancies have risen to 16.9%, Grubb & Ellis executives report. And a glut of sublease space has made matters worse.
CHARLOTTE-Michael Greco, president of the locally based real estate financial products firm, says FastTrak will provide quick access to commonly requested inspection and appraisal services.
ATLANTA-The locally based restaurant owner/operator is remaining at the 697,400-sf, 85%-leased Six Concourse Parkway for at least another 10 years. Effective rents are down from $25-per-sf highs, area brokers tell GlobeSt.com.
CHARLOTTE-The deal brings some $1.3 billion worth of properties under Faison's management umbrella and moves the firm to a playing field it formerly enjoyed in the 1990s.
ATLANTA-The Mortgage Bankers Association plans to debut a 'smart' document within the next two months that will allow electronic property appraisals to be read by everyone.
ATLANTA-The Ann Arbor, MI-based institutional investor's single-tenant, triple-net assets include properties for Pizza Hut, Taco Bell, Tony Roma's, Hollywood Video, Morgan Tire and Sterling Jewelers. M&M's fee wasn't disclosed.
CHATTANOOGA, TN-In the second and final stage of the 23-property acquisition, completed March 14, the Southeast's largest mall owner (52 properties) paid $422,088 in cash; assumed $26.6 million in loans; and issued 499,730 shares in stock valued at $32.25 per share ($16.1 million).
RALEIGH, NC-Credit Suisse First Boston is analyzing offers for the locally based REIT that owns or joint ventures 38 shopping centers totaling 5.2 million sf in seven states. Prometheus owns 67% of Konover through a 1999 stock deal valued at the time at $200 million.