CORAL GABLES, FL-South Florida's nearly 265 million-sf industrial market absorbed 7.9 million sf of space in this year's first six months, versus nine million sf in all of last year, reports locally-based Codina Group Inc. That was a strong enough performance to hold vacancies at a stable 6%. The vacancy rate actually fell between the first and second quarters in all three of the region's counties.
ATLANTA-The state of Georgia plans to buy the 151,000-acre Swamp of Toa from the St. Joe Co.of Jacksonville, FL for $30 million to use as a wildlife management area. The price equates to $198 per acre or about a half cent psf. The Nature Conservancy of Georgia is buying the freshwater swampland now and will broker the deal for the state until Georgia acquires funds to close the transaction.
BROOMFIELD, CO-A community midway between Denver and Boulder will be the North American Operations Center for the rapidly growing 360networks Inc., a Vancouver-based telecommunications company. The company seals the plan with a 95,000-sf lease in the Mountain View Corporate Center.
YONKERS-Qwest Communications Inc. has signed for 525,000 sf of space at the former Saks Fifth Avenue distribution facility on Tuckahoe Road. The deal is said to be one of the largest in Westchester County in years.
DALLAS-DFW International Airport is kicking off a $2.5 billion capital development program, capping three years of strategic planning. The program's cornerstone is a $1.03 billion, 23-gate International Terminal D, totaling 1.8 million sf - double the size of the airport's largest existing terminal.