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LATEST REAL ESTATE NEWS
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LyondellBasell Renews 358,138 SF in Houston
LyondellBasell renewed 358,138 square feet at 1 Houston Center in Houston. The plastics, chemical and refining company signed a long-term extension deal to maintain its global operations at the central business district office tower.
The 1.06 million-square-foot property at 1221 McKinney St. was built in 1996. The lease also included naming rights; the 46-story office building will now be known as LyondellBasell Tower.
Charles Gordon, Craig...
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CoStar's People of Note (Jan. 22-28)
This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC.
DALLAS, NATIONAL
Behringer Harvard Appoints New President, CEO of REITs
By Laurie Forbes
Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place
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Miami Herald Finalizes 158,000-SF Lease in Doral
The Miami Herald Media Company has agreed to terms to relocate to a 158,265-square-foot office building in Doral, FL. The building, at 3511 NW 91st Ave. in Miami, will be renamed One Herald Plaza at Westpointe Business Park. The company has also acquired an adjacent six-acre pad site to house its 119,000-square-foot production building.
CoStar first brought you coverage of the sale of Miami Herald's former waterfront office location to Genting...
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Landlords Poised to Regain Upper Hand In Recovering Office Market
Office space absorption doubled during 2011 as the office-using job base expanded and vacancies declined across nearly two-thirds of U.S. submarkets, CoStar Group reported this week in its Year-End 2011 Office Review & Outlook. The report presented to CoStar clients found that positive momentum in office fundamentals and the continued absence of new construction is expected to result in higher rents for building owners over the next few years.
Office...
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Renew or Relocate? Incumbent Landlords Willing To Sweeten the Pot
While perhaps not a nationally significant or unusual deal by itself, U.S. Cellular's renewal this past month of an office lease in Madison, WI, succinctly depicts the current state of leasing.
U.S. Cellular agreed to extend its lease with affiliates of Wells Real Estate at the U.S. Cellular Building, a four-story, 102,000-rentable-square-foot office building. The Chicago-based carrier leases 73% of the building and owns a 45% equity interest in...
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Late 2011 Surge Will Carry into 2012
LOS ANGELES-Economist Christopher Thornberg tells IREM-LA Forecast attendees that there are potholes in the roads ahead, but there is more reason to be positive in 2012. The US and California economies are gaining momentum, he says.
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Bergen County Retail Site Sells for $5M
PARAMUS, NJ-The Guitar Center property is just one sign that retail remains a strong investment in affluent Bergen County, says CBRE’s NJ Private Capital Group, which represented the buyer and seller.
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Tenants Get Ever More Efficient with Space Needs
WASHINGTON, DC-This is not necessarily good news for area landlords, especially as this drive to efficiency also includes the government, Studley’s David Lipson tells GlobeSt.com’s Erika Morphy.
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Push adds 195,000 SF of Texas Medical Real Estate to Duke’s Portfolio
SAN ANTONIO-The Indianapolis REIT acquires buildings on the CHRISTUS Santa Rosa Alamo Heights campus and Cedar Park Regional Medical Center near Austin – and is aggressively seeking more.
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Stacom: In 2012, Less Debt, Healthier Deals
NEW YORK CITY-At a New York Bar Association luncheon Thursday, CBRE’s vice chairman Darcy Stacom explained that despite headwinds from the financial services industry, New York itself will remain a stable location to deploy capital -- even with competition from London, Dubai and Tokyo.
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