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Article: Pinnacle deals buck downward movement in Tri-Cities market. (Real Estate Awards--Dealing in Hard Times).(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- March 24, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN a year that saw the Tri-Cities real estate market put more than 213,000 square feet back onto the market, the Pinnacle office complex, developed by M. David Paul & Associates, was a leasing winner.
The first phase of the two-building, 625,000-square-foot project, on West Olive Avenue in Burbank bucked the odds by gaining two sizable tenants and accounting for the year's positive absorption numbers in the Burbank market.
Carl Muhlstein, vice president at Cushman & Wakefield Inc., which represented the project, called the big leases with Clear Channel Communications Inc. and Warner Music Group, a subsidiary of AOL Time Warner Inc., "a fantastic coup."
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