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MINNEAPOLIS-Multi-family units account for 51% of the 1,732 units planned, but year-to-date accounts for 49% of total units, one of the highest ratios in recent years, according to the Builders Association of the Twin Cities.
ORANGE, CA-An industrial owner-user transaction here closes for $3.5 million, while an 11,982-sf office building in Newport Beach fetches $2.6 million for a combination owner-user and investor.
SILVER SPRING, MD-Accommodating growing demand by increasing the supply, property developer Grosvenor begins work on a new 35,000-sf flex/office building in the 250-acre WesTech Business Park.
MIAMI-Whalen Realty Capital LLC arranged the transaction for the owner of Banco Santander Center through lender Aegon Realty Advisors. Meanwhile, the 189,000-sf, class B building, in the Brickell Avenue submarket, is being marketed for sale.
DENVER-Even though the corridor is seeing the most activity since April 2001, lease rates continue to fall and concessions continue to rise according to the latest report by CB Richard Ellis.
MALDEN, MA-Sandstorm Enterprises relocates from Tremont Street in downtown Boston to the Gateway Building, at 20 Summer St. The company is leasing 6,395 sf in the 24,000-sf office building.
PHOENIX-A New Mexico investor places a $9.7-million offer before the 61,718-sf Biltmore Pavilion can hit the market and after it reaches 94% occupancy. The prestigious location and leasing level deliver a comfort zone for the long term.
RENO, NV-The $21-million Downtown riverfront project will be Reno's first luxury residential tower. The project is being planned for the site of the former Granada Theater.
ATLANTA-After posting a loss of $1 million in third quarter 2002, the locally based company generated net income of $5.3 million, or $1.01 per share, in the third quarter that ended Sept. 30.