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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | May 25, 1994
...*TC CB Commercial Real Estate Services Inc. has raided rival Casey & Associates to find a new head of the national brokerage firm's Baltimore office, less than two years after Casey lured the same broker away from CB Commercial.Steven H. Gassaway will take control of the 25-broker local CB Commercial operation next week, the company said yesterday. The 35-year-old Lutherville resident spent nine years with CB Commercial before joining Casey in late 1992."It was an opportunity to manage an office [and]
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BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | March 26, 1996
Bausch & Lomb Inc., which in January rocked Garrett County by announcing plans to shut its sunglass lens factory there and lay off 600, intends to find a buyer for the facility by the end of the year.The Rochester, N.Y.-based company is hoping its $2.85 million asking price -- a fraction of its investment in the 25-year-old plant -- will attract numerous companies interested in rehiring Bausch & Lomb employees."It is certainly our hope that at least some of our work force will be hired by the buyer," said Barbara M. Kelley, a Bausch & Lomb spokeswoman.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | August 17, 1993
CB Commercial Real Estate Services Inc. has been awarded the job of leasing and managing the 22-story One Charles Center.Metropolitan Life, the mortgage holder, picked CB Commercial totake care of the 31-year-old landmark of the first stage of the city's redevelopment campaign.The property will change ownership today, when it goes up for auction at 2 p.m., and Metropolitan Life is expected to be the only bidder.James Kaplan, a Metropolitan Life executive in Washington who is helping to coordinate the auction, confirmed the award but did not provide details.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | July 9, 1995
If any company should be buoyed by the nationwide resurgence of the commercial real estate and recent industry trends, it is CB Commercial Real Estate Group Inc.The nation's largest real estate firm, with 78 offices and revenues last year of $430 million, is benefiting from industry consolidation, its vast network of agents and a variety of services, technological investments and institutional relationships extending well beyond its home base of Los Angeles.But...
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | July 9, 1995
If any company should be buoyed by the nationwide resurgence of the commercial real estate and recent industry trends, it is CB Commercial Real Estate Group Inc.The nation's largest real estate firm, with 78 offices and revenues last year of $430 million, is benefiting from industry consolidation, its vast network of agents and a variety of services, technological investments and institutional relationships extending well beyond its home base of Los Angeles.But...
BUSINESS
By Timothy J. Mullaney | November 25, 1992
Clendenin affiliate to buy warehouseSignet Bank/Maryland will have a short tenure as owner of the former Levenson & Klein warehouse on Erdman Avenue in East Baltimore.The 305,000-square-foot building will soon be sold to a company affiliated with Clendenin Brothers Inc., John C. Corckran, Clendenin co-chief executive, said."We're next-door neighbors to the Levenson & Klein building. It was logical," said Mr. Corckran, whose company makes aluminum and other non-ferrous nails, rivets and other fasteners.
BUSINESS
May 12, 1995
Rockefeller Center owners fileTwo Japanese-controlled partnerships that own Rockefeller Center filed for bankruptcy protection yesterday, ending a protracted effort to bail out the prestigious property in the center of Manhattan.The failure of the partnerships, controlled by Japan's Mitsubishi TC Corp., adds to a growing list of big failures for Japanese investors in the United States.The partnerships, Rockefeller Center Properties and RCP Associates, said the Chapter 11 bankruptcy filing was caused by the "deep and prolonged recession in the New York real estate market."
BUSINESS
By Edward Gunts | January 1, 1992
Downtown Baltimore's commercial real estate market closed out the year with a record vacancy rate of 17.8 percent for new "Class A" buildings, up from a rate of 14.3 percent at the beginning of 1991, according to a report from CB Commercial Real Estate Group Inc.The vacancy rate for older "Class B" buildings downtown was 22.9 percent at year's end, up from 20.5 percent at the start of 1991, the real estate company said.By contrast, the national vacancy rate for downtown office space was 18.0 percent for Class A and Class B combined as of Sept.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | March 26, 1996
Bausch & Lomb Inc., which in January rocked Garrett County by announcing plans to shut its sunglass lens factory there and lay off 600, intends to find a buyer for the facility by the end of the year.The Rochester, N.Y.-based company is hoping its $2.85 million asking price -- a fraction of its investment in the 25-year-old plant -- will attract numerous companies interested in rehiring Bausch & Lomb employees."It is certainly our hope that at least some of our work force will be hired by the buyer," said Barbara M. Kelley, a Bausch & Lomb spokeswoman.
BUSINESS
By Timothy J. Mullaney | October 28, 1992
Office space report a bit of a mixed bagNot great and not terrible. That's the verdict of the third-quarter report from CB Commercial Real Estate Group Inc., which shows metropolitan office absorption moving up.But CB Commercial's top local honcho isn't prepared to break out the bubbly just yet.Despite the higher absorption, vacancy rates rose slightly because of new space being added to the market. CB Commercial said the regional vacancy rate on September 30 was 22.04 percent, compared to 21.5 percent at the end of June.
BUSINESS
May 17, 1995
Vote will decide Grow Group fateGrow Group Inc. said yesterday it will let shareholders decide whether they want the company to be acquired by Sherwin-Williams Co. or Imperial Chemical Industries PLC.On May 8, Sherwin-Williams offered $320 million, or $19.50 a share, to buy the paint and chemicals company. Nine days earlier, Grow had said it entered into a definitive merger agreement to be acquired by London-based ICI, the maker of Glidden paints, for $290 million, or $18.10 a share.Shares of New York-based Grow rose 87.5 cents, to $21.Criimi Mae income drops 30%Rockville-based Criimi Mae yesterday reported tax basis income of nearly $9 million for the first three months of this year, a 30 percent decline from the same period a year ago. The real estate investment trust specializing in apartment mortgages attributed the decline to higher interest rates and lower net capital gains from the sale of its mortgages.
BUSINESS
May 12, 1995
Rockefeller Center owners fileTwo Japanese-controlled partnerships that own Rockefeller Center filed for bankruptcy protection yesterday, ending a protracted effort to bail out the prestigious property in the center of Manhattan.The failure of the partnerships, controlled by Japan's Mitsubishi TC Corp., adds to a growing list of big failures for Japanese investors in the United States.The partnerships, Rockefeller Center Properties and RCP Associates, said the Chapter 11 bankruptcy filing was caused by the "deep and prolonged recession in the New York real estate market."
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | January 24, 1995
The Manekin Corp., responding to industry consolidation, has begun exploratory talks to merge the Baltimore-based development and brokerage company, officials said yesterday.Manekin, which in nearly five decades has evolved into one of the area's most prolific development and brokerage operations, owning or managing 7.3 million square feet of commercial space, is discussing either a merger or alliance with a number of regional competitors, including the Carey Winston Co.Chevy Chase-based Carey Winston has been attempting to expand its presence in the Baltimore market for the past year, ever since a property management partnership with Baltimore competitor Casey & Associates Inc. unraveled.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | May 25, 1994
...*TC CB Commercial Real Estate Services Inc. has raided rival Casey & Associates to find a new head of the national brokerage firm's Baltimore office, less than two years after Casey lured the same broker away from CB Commercial.Steven H. Gassaway will take control of the 25-broker local CB Commercial operation next week, the company said yesterday. The 35-year-old Lutherville resident spent nine years with CB Commercial before joining Casey in late 1992."It was an opportunity to manage an office [and]
BUSINESS
By Timothy J Mullaney and Timothy J Mullaney,Sun Staff Writer | March 31, 1994
CSX Corp. said yesterday that it will stay at One Charles Center in downtown Baltimore, ending a widespread belief in the real estate community that the transportation giant was preparing to move an additional 500 jobs to Florida.The nation's biggest railroad, which formerly occupied the entire 320,000-square-foot building at 100 N. Charles St., signed a lease for 132,645 square feet of office space through the year 2000, said Kathy Burns, a CSX Transportation Inc. spokeswoman.Ms. Burns said CSX moved 545 workers to Jacksonville, Fla., in 1992 and 1993 as the company consolidated its railroad unit to a single headquarters.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | December 10, 1993
Safeway Inc., the nation's third-largest supermarket chain, proposes building a 62,500-square-foot store in the Canton area of Baltimore, the site of earlier community opposition over plans to develop the property.Safeway has an option to buy 5 acres at the site of the formerAmerican Can Co. factory in the 2600 block of Boston Street. The waterfront area around the site has been dubbed Baltimore's "Gold Coast" because of the large number of new condominiums and town house developments in the vicinity.
BUSINESS
By Timothy J. Mullaney | December 30, 1992
In real estate, 1992 was Year of Living CheaplyThe Year That Was:In 1992, the real estate market learned to love being poor. At least that's the conclusion you could draw from trends spotted by CB Commercial Real Estate Group.* In Baltimore County, several big companies shifted from sleek, pricey Class A buildings to cheaper space -- and less of it. One example: Black & Decker Corp., which moved some operations to a Towson research and development building from a bigger, newer Hunt Valley building.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,CB CommercialStaff Writer | June 25, 1993
Baltimore's office vacancy rate fell slightly in the first half of the year, marking the first improvement in the closely watched indicator since 1988, a report released yesterday by CB Commercial Real Estate Group Inc. indicated.The city's vacancy rate edged down to 22.5 percent, from 23.1 percent at the end of last year.That rate combines the 20.7 percent rate in newer, Class A buildings and the 24.8 percent rate in older, Class B buildings, whose price advantage has slipped away as Class A building owners cut prices to cope with the recession.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | August 25, 1993
Rockville firm to lease Columbia warehouseA Rockville company that plays a key role in the U.S. government's anti-drug campaign has signed up for one of the area's biggest warehouse deals of the year, agreeing to lease more than 113,000 square feet at the Guilford Industrial Park in Columbia.The six-year deal between Social and Health Services Ltd. and landlord Emory Hill Investments could be worth as much as $1.8 million, said Michael A. Elardo, a Columbia-based broker for W. C. Pinkard & Co. who represented the tenant.
NEWS
August 23, 1993
The office and industrial market in the Howard-Anne Arundel county corridor between Baltimore and Washington is slowly emerging from its most difficult period in memory.Deep recession, coming on the heels of an unprecedented 1980s building boom, produced record vacancies in office complexes that had mushroomed around Baltimore-Washington International Airport. Columbia fared better, but it also experienced problems.The situation was aggravated by drastic downsizing and space shifts at Westinghouse Electric Corp.
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