Office

LONDON-The European Bank for Reconstruction and development is to stay in its existing headquarters at One Exchange Square, Broadgate in the City of London. Canary Wharf had been attempting to entice the bank to a new HQ in Docklands.

LITCHFIELD PARK, AZ-Seller Romar Investors gets the full asking price for a five-building, 23,691-sf development in a submarket that is running counter-cyclical to the rest of the metro. The fully leased buy comes with a lease rollover of two to five years.

PHILADELPHIA-In relinquishing his post as president of the locally based,

LONDON-Rotch Property Group, the finance-driven investment group owned by the Iranian brothers Robert and Vincent Tchenguiz, is to be split into three separate companies.

ORLANDO-The six-year-old development entity of The Norbert Corp. bought 3.25 acres for $410,500 at Orlando Central Park South where they expect to break ground in April on a $4 million, 50,000-sf office showroom/warehouse facility.

DENVER-Bankrupt Adelphia Communications, which wants to move its corporate headquarters to Denver from Coudersport, PA, is still searching for office space. A deal could eventually be made in the Denver Tech Center.

RESTON, VA-Sunset Corporate Plaza welcomes new tenant IBM as the computer company leases the entire 100,000-sf office building. IBM committed to occupying the space, which is located in the Dulles Corridor near the Dulles International Airport, for a 10-year period.

AUSTIN-The San Antonio-based bank takes 52,000 sf in the 33-story CBD high-rise to boost the pre-leased space to 46%. Frost Bank becomes the largest space taker of the five leases signed to date. The building opens in January 2004.