Lucent exits German leases in more than 30 buildings U.S.-based Lucent Technologies has disposed of leases in more than 30 buildings. Lucent inherited the leases on the 17.3-acre site in Nuremberg, Germany, in 1996. The site is owned by IVG, the former German state-owned and now publicly-traded property and logistics company. Lucent assigned Healey & Baker to explore its options. IVG accepted the surrender of leases on all of the buildings except two, and plans to demolish some of the buildings to build a new 215,000 sq. ft. office building which Lucent will lease. "The way is now clear for the redevelopment of the site, including the creation of a modern office park," says James Hollington, head of Healey & Baker's corporate services.
Staubach opens Canadian offices through The Tenant Resource The Staubach Company, a national real estate services firm based in Dallas, is opening its first offices in Canada. Heading the new effort will be Michel Leonard, the former president of The Tenant Resource, Canada's leading tenant representation firm. Joining him will be Harry McKeague, who also has extensive experience in the Canadian real estate market.
The arrangement is viewed as a cross-border win-win by both firms. It also gives Staubach its first taste of international business.
Colliers offices gain clients across Europe & Asia ACNielsen, Black & Decker and Esprit Telecom have appointed Colliers offices to handle their European corporate real estate holdings. ACNielsen has extended its work with Colliers in Asia to include its 1.5 million sq. ft. of properties in the Europe, Middle East and Africa (EMEA) region. London-based Colliers Erdman Lewis has been tapped for the EMEA work.
Black & Decker tapped Colliers affiliates Colliers Erdman Lewis and Colliers Pinkard in Baltimore to handle its real estate holdings in Europe. The two firms have hired Alan Carswell, most recently head of industrial at DTZ Debenham Thorpe, to work exclusively on Black & Decker's behalf. Carswell will be based at Black & Decker's Slough, England, headquarters.
Esprit Telecom hired Colliers Erdman Lewis' corporate services department to be its corporate real estate adviser. Esprit recently completed a $5 billion merger with Global Telesystems Group, creating one of the largest independent Pan-European telecom companies. Esprit's property portfolio includes seven U.K. properties and eight on the European Continent.
Hanscomb wins contract for Japan's new island airport Atlanta-based Hanscomb Inc., a construction consulting firm, recently won an international competition to assist in the initial construction of a new international airport to be built on a man-made island outside Nagoya, Japan. The initial contract, which includes Hanscomb's Japanese affiliate Sato Facilities Construction, covers a six-month assignment. The construction requires the complete development and reclamation of an offshore island, as well as all portside infrastructure, railway and ground transportation connections.
Major Spanish property firm reports strong 1st Q earnings Metrovacesa, Spain's largest publicly listed property owner, reported first-quarter 1999 results in line with Morgan Stanley Dean Witter's estimates. Net income equaled Pta 2,481 million, which was ahead of Morgan Stanley's projected Pta 1,562 million. The gains were largely due to trading profits on property disposals and lower interest expenses.