Leasing

AUSTIN-The law firm of Dewey Ballantine becomes the fifth tenant to pre-lease office space in Cousins Properties' Congress at Fourth. The 35,000-sf, 10-year lease carries the 525,000-sf tower to 34% filled, with the opening still 10 months away.

PHILADELPHIA-By Memorial Day, the rapidly expanding warehouse grocer will open in the space at the strip center in Phoenixville, PA that was vacated last March by the Ames department store chain. Plymouth Meeting, PA-based Kramont Realty Trust recently renovated the 177,000-sf property.

ROUND ROCK, TX-Ace Southwest, a moving-and-storage company, is the largest space taker with 11,520 sf in the trio of industrial leases signed for two buildings in the 132-acre Chandler Creek Business Park.

HOUSTON-Emser Tile of Los Angeles makes a second expansion move in two years, signing for a 112,000-sf warehouse owned by Chicago-based First Industrial Realty Trust. The commercial tile supplier more than doubles its warehouse space with the new deal.

COLUMBIA, MD-The Plaza at The Mall in Columbia prepares to welcome a new tenant as AMC Entertainment Inc. commits to opening a new theater in the retail center. The 14-screen, state-of-the-art movie complex is expected to make its debut later this year.

AUSTIN-Cousins Properties signs the largest tenant so far for the roster at its 525,000-sf Congress at Fourth, slated to deliver in November. Graves, Dougherty, Hearon & Moody law firm, signing for the long term, takes the pre-leasing level to 27%.

DALLAS-The slug-it-out times of this year are going to continue well into 2003 for the Dallas-Fort Worth office market, say two of the region's seasoned executives. The New Year will be one of renewal...lease renewals, that is.

PHILADELPHIA-Although net absorption of industrial space remains negative, overall industrial vacancy in the four suburban counties is 10.5%, and direct vacancy is 9.6%, a range that has held for the past seven quarters.