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HOUSTON-Construction is up about one million sf from last year while rent is holding the line and occupancy is down a percentage point from six months ago, according to the latest report from the Weitzman Group
WOODINVILLE, WA-MJR Development is planning a 57,000-sf wine tasting complex with extra event space and Silver Lake Winery is seeking approvals for a 73,000-sf open-air restaurant and retail complex.
BOSTON-The Boston Redevelopment Authority gives the thumbs up to a proposal by Jiten Hotel Management Inc. to build a 164-room Courtyard by Marriott right near the South Bay Shopping Center on 33 West Howell St. in Dorchester.
CHICAGO-The property at 5440 N. Cumberland Ave. is refinanced with a five-year mortgage priced on the one-month LIBOR. It sits in the O'Hare submarket where 24% of the space is now available.
DENVER-Forest City is honored for its work developing the 7.5-mile site of the former international airport. Also honored were Quebec Regional Retail Center at Stapleton and Stapleton Business Center.
CHATSWORTH, NJ-But the 14-square-mile piece of land isn't about to be developed because the new owner, the nonprofit NJ Conservation Foundation, is buying it for conservation purposes.
ALBANY, NY-Governor George E. Pataki reports that the state will grant more than $5.4 million in aid for affordable housing projects in Rockland and Orange counties, including the rehab of the former Hotel Newburgh.
ARLINGTON, VA-There's more revitalization in store for government property as the GSA settles on architect/engineer team to head the upgrading and enlargement of the George P. Shultz National Foreign Affairs Training Center.
SPOKANE, WA-The hotel REIT sells the 236-room property for $5.4 million as part of its continuing effort to upgrade its portfolio mix by disposing of non-core assets. In July, Boyken also sold a hotel in Springfield, OR for $6.5 million.