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PALM DESRT, CA-An Irvine development firm acquires the 110,122-sf Desert Springs Marketplace retail center, along with a parcel of nearly 13 acres that will be Phase II of the project.
AUBURN HILLS, MI-The German automotive firm is in the process of completing a 15,000-sf addition next to the company's current North American Technology Center. The property was selected for its close proximity to the tenants existing facility.
ORLANDO-The biggest success in retail this year has been in capital markets, 3,000 delegates learn from a special report presented by the local office of Trammell Crow Co. at the 2003 Florida ICSC conference at the Gaylord Palms.
NEW YORK CITY-Manhattan is a shopping destination for many and Wells REIT is no exception. The Atlanta-based Wells is allocating $500 million for acquisitions in New York City.
DALLAS-The local development group gets more than $15 million for two of three buildings in an industrial portfolio disposition. Argus Realty Investors teams 18 exchange buyers to beat 14 other full-price offers.
HOUSTON-Gables Residential Trust says it will realize a $12.5-million gain from the sale of the 641-unit, two-phase community to International Realty of San Antonio. The complex, built in 1993 and 2001, is assessed at close to $39.6 million.
ROCKVILLE, MD-Commercial mortgage concern Criimi Mae reports a $3.6-million loss for the second quarter due to impairment charges, but as a result, the company heads into the third quarter with a clear assessment of the entire portfolio.
ATLANTA-Mark Dagel tells the county commission his 51 acres in a flood plain for $500,000 or $9,804 per acre is a bargain deal for Cherokee's green space program. But some commissioners suspect the land already is protected and isn't worth buying.
PHOENIX-Not only did the local brokerage houses pick up topnotch producers, but also their listings and projects. Trammell Crow nearly doubled the staff while seven other Insignia brokers set up shop at Grubb & Ellis/BRE Commercial.
CHICAGO-Commercial real estate investors may be "separating the wheat from the chaff," according to Real Estate Research Corp., but their expectations now are lower than they were before Sept. 11, 2001.