EATONTOWN, NJ-Put on the market for $9.5 million, the property sold within 45 days. The new owner has leased it to a pharmaceutical research company for 10 years.
ATLANTA-The 14-year-old, 20-story, 351,184-sf Lenox Building in Buckhead goes for about $70 million. The one-year-old, 11-story, 286,572-sf Glenridge Highlands One tower in north Fulton County exchanges hands for about $43 million.
MIAMI-Countywide, absorption remains strong but new construction and softening Latin American economies pushed the 42 million-sf Airport West submarket to a a negative six-month net absorption total of 452,370 sf while raising the vacancy rate to 12.1% from 10.1%.
MIAMI-Local class A office rents may be up, but at an average $29.60 psf, they're still a bargain compared with rates in other large metro markets, a new CB Richard Ellis Inc. study notes.
RICHARDSON, TX-Faison Capital Advisors has agreed to a sale-leaseback deal with Alcatel USA to finalize the purchase of a 113-acre, 1.2 million-sf campus in the high-tech Telecom Corridor in Richardson. Meanwhile, the deal means another technology park for one of Dallas' busiest office market.