Archive for October, 2009
CB Richard Ellis released its Third Quarter 2009 Fairfield County Market Report this week.
Leasing activity, according to the report, has climbed 53% from levels in Q2 as office space demand rises.
Despite this, the market still registered negative net absorbtion of more that 1.8 million square feet year-to-date.
Available office space in Loveland and Fort Collins, Colorado, has doubled since 2007.
Pete Cowdin, owner of Re/Max Action Brokers, said “We are definately in a decline.
“Everyone is expecting things to get worse before they get better.
Special Olympics has acquired a new headquarters in Marlboro.
The 26,000 square foot building cost $10.8 million to build.
The new building contains office space, conference rooms, a fitness room, a soccer field and a gym.
Equity Building Services will complete two business complexes in Las Vegas this month.
A quarter of a million square feet of commercial property will become available.
Four different sized units will be available for rent.
St Landry Economic and Industrial Development District Executive Director Gerard Perron told his board this week that plans for a business incubator in Opelousas were unlikely to come to fruition.
The plan had originally been to purchase 150,000 square feet of office space and rent it out to new businesses at below-market rents.
Unfortunately, Perron believes that the organisation cannot afford the $800,000 purchase of the building.
Law firm Plews Shadley Rache & Braun has added new office space to its unconventional collection.
The environmental law firm now owns three historic buildings and an office block built in the 1950s.
The fact that the company owns, rather than rents its commercial properties, and that for a small firm it uses multiple buildings, is unusual.
Despite a positive outlook from Wall Street, over 17% of Southern California’s office space is vacant.
Across Los Angeles County, Orange County and the Inland Empire, 51 million square feet of office space has no occupants.
Office vacancy is thought to be a product of swathes of redundancies.
Charles Flowers, the County Schools Chief for Cook County, has been given two weeks to pay the rent on his office space.
Flowers owes $10,000 to the Westchester School District in rent on the property.
District Attorney Jeff Goelitz said “The Board of Education [wants to] recoup the unpaid rent, and they want toe gain possession of the office space.”
New details have emerged about the family who fasley claimed their son was in a flying hot air balloon.
Unconfirmed reports say that the Heene family lived in the office space of father Richard Heene in Santa Monica
There are also claims that the family left the office space without paying the last installment of rent.