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Volume 2 - Number 9 | May 4, 2005
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TOP STORY: ProLogis and IDI Take Chance on East Dallas Submarket
By John McCloud
A flurry of speculative development and investment activity in the East Dallas submarket shows either a location ready to leap to the forefront of the Dallas-Fort Worth Metroplex or a major gamble on an area whose development potential is highly questionable.
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MARKETBEAT: Vacancy Levels First Quarter 2005
By John McCloud
Boston: The market shows little improvement in terms of vacancies. The level actually climbed a full point to 21.2% in March from 20.2% in December. It is, however, slightly down from the 21.5% of first quarter 2004…..Northern New Jersey: The market’s low 6.7% vacancy rate is not only down from 7.1% in December but significantly below the 7.6% from this period last year…..
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INSIDER: Biomed Realty Trust’s Alan Gold
By John McCloud
Since its formation last year from the holdings of Bernardo Property Advisors Inc., Biomed Realty Trust has undertaken a very aggressive acquisition strategy, culminating in the March purchase of a 1.2 million-sf portfolio of seven buildings in Cambridge, MA from Lyme Properties LLC of Hanover, NH for $531 million.
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Ohio Developer Buys Akron Goodyear Site for Conversion to Business Park
By John McCloud
An Ohio developer with a portfolio of 4 million sf of industrial and retail properties has acquired a shuttered Goodyear Tire & Rubber Co. plant in Stow, OH for transformation into a $100 million office and industrial park. Albrecht Inc., which closed on the purchase in March, paid $4.5 million for the 106-acre site. The project, the largest ever undertaken by the Akron-based developer, signals renewed interest in reclaiming older industrial sites in the so-called Rust Belt.
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