CHICAGO — A year ago, law firms, like many businesses, were shedding jobs and placing significant blocks of office space on the leasing market for sublease. Now, as the economy bounces back, the window for law firms searching for space today is narrowing. Law firms are expected to maintain the upper hand in most markets but options for prime office space are dwindling and the best office space will be gone within 18 months. Jones Lang LaSalle’s new Global Legal Perspective advises law firms that office space options will thin as demand picks up and that prudent law firms should act now to find the best long-term deals in the market.
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| BOSTON – Nitsch Engineering, a Boston-based land surveying, civil and transportation engineering, planning, and GIS firm, has completed their most recent laser scanning survey project, in support of with the Massachusetts Department of Transportation’s improvements to five bridge crossings over CSX railways in five different communities.
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| WALTHAM, Mass. – November 2, 2010 – Hobbs Brook Management LLC, a pioneer in the development of office space in the Boston suburbs, announced today it has donated $200,000 worth of office furniture and equipment to six YMCA’s within the Greater Boston network.
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| CHICAGO — Jones Lang LaSalle announced it has formed a strategic alliance with tax services firm Ryan to provide tax mitigation services to corporate real estate clients. Jones Lang LaSalle’s Real Estate Tax Mitigation offering provides a comprehensive review, recommendations and appeal process to manage a corporation’s real estate tax budget.
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| BOSTON -- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, reported results for the third quarter ended September 30, 2010. Funds from Operations (FFO) for the quarter ended September 30, 2010 were $150.8 million, or $1.08 per share basic and $1.07 per share diluted. This compares to FFO for the quarter ended September 30, 2009 of $158.5 million, or $1.14 per share basic and $1.13 per share diluted. The weighted average number of basic and diluted shares outstanding totaled 139,594,881 and 141,653,831, respectively, for the quarter ended September 30, 2010 and 138,641,262 and 140,685,570, respectively, for the quarter ended September 30, 2009.
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| BOSTON – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, has released “indSTATus – Fall 2010”, the firm’s quarterly research publication highlighting Greater Boston’s three industrial property types – warehouse, flex and manufacturing buildings.
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| CHICAGO— While the office market recorded its second consecutive quarter of tightening, the market remains highly segmented by geography and product type and continues to bounce along the bottom.
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| CHICAGO —The commercial real estate investment market has stepped firmly into recovery mode, according to Jones Lang LaSalle’s Fall 2010 Investor Sentiment survey. The survey included responses from more than 200 industry participants including nationwide property owners, banks, agencies, development firms, academics and professional services firm/consultants.
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| BOSTON, MA – WinnResidential was honored by The Greater Boston Real Estate Board (GBREB) and the Rental Housing Association (RHA) with four 2010 Achievement Awards. The RHA awards are presented each year to those within the rental housing industry who continuously strive to excel beyond the daily challenges of his or her job.
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| BOSTON– The third quarter of 2010 witnessed a strengthening of Greater Boston’s office market, according to a report from Richards Barry Joyce & Partners (RBJ&P), a full-service commercial real estate advisory firm. Across the market, vacancy decreased 0.1% to 15.9% with 401,000 square feet of positive absorption.
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| NEWTON, Mass.—Diversified Project Management, Inc. (DPM) a Newton, Mass.-based construction management, facilities and move-planning firm, held its 17th annual MS Golf Classic tournament at the Hopkinton Country Club, raising over $72,000 to benefit National Multiple Sclerosis Society.
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| NEWTON, Mass—Diversified Project Management, Inc. (DPM) a Newton, Mass.-based construction management, facilities and move-planning firm, held its 17th annual MS Golf Classic tournament at the Hopkinton Country Club.
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| BOSTON—In a positive sign that Greater Boston office investment market is slowly stabilizing, the Boston office of Lincoln Property Company announced that the sale price of office properties that are 90-to-100 percent leased are hitting a five-year high mark this year, and the year-to-date sales volume has already surpassed the total sales volume from last year.
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| BOSTON, MA - Cushman & Wakefield announced its third quarter 2010 statistics for the Greater Boston commercial office market. The initial findings for the past three months show a noticeable slowdown in the rate that space is coming to the market via both sublease and direct vacancies, and in the rate that office asking rents are declining quarter over quarter.
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| WAKEFIELD, MA-- CommTank announced that it will provide emergency heating services for low-income homeowners through Massachusetts Association for Community Action Program (MASSCAP.) MASSCAP is the statewide association for the 24 Community Action Agencies operating in the Commonwealth.
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| BOSTON– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Grubb & Ellis Landauer Valuation Advisory Services opened for business today in Boston. The office, which is led by Bruce F. Wiley, MAI, is one of 12 offices now serving the appraisal needs of commercial real estate owners and users as part of Grubb & Ellis’ entry into the valuation advisory business on a national scale.
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| BOSTON – Syska Hennessy Group, a leading consulting, engineering and commissioning firm, announced that its Cambridge office recently achieved LEED® Silver certification, established by the U.S. Green Building Council (USGBC) and verified by the Green Building Certification Institute (GBCI).
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| BOSTON – The NEWiRE Educational Foundation, Inc. announced that it has awarded its first annual scholarship in the amount of $5,000 to Mary Long. Ms. Long worked as a brokerage assistant at CB Richard Ellis and is currently putting herself through law school at Suffolk University.
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