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PORTSMOUTH, NH-Responding to queries from Lodging Econometrics, many developers said the continued slowdown in guestroom demand has them reluctant to advance projects up the development pipeline or to make any new project announcements.
WALNUT CREEK, CA-KBS Realty Advisors acquired the building in March for about $60 million, or $190 per sf. Loopnet shows slightly more than 85,000 sf available in the two-building, 319,000-sf class A office complex.
DENVER-The new mayor drew fire from Robert Moody for speaking to an environmental group that backed an anti-growth amendment to the state's constitution. Not all in the real estate community feel the same way, however.
PORTLAND-Portland State University plans to acquire the 40,000-sf building on Southwest Corbett Avenue during the first 18 months of its recently signed five-year lease. After 18 months, its discounted lease rate rises to market rate. The building traded earlier this month for $3.85 million.
DALLAS-Younan Properties acquires its third office building in Dallas in six months and has a fourth under contract. In keeping with past strategies, the buyer makes the close with an 18,000-sf tenant in hand to raise the 70% occupancy in the 116,000-sf building.
MINNEAPOLIS-The law firm of Fabyanske, Westra & Hart will relocate its Minneapolis headquarters into 27,000 sf of office space at LaSalle Plaza in Downtown Minneapolis.
RENTON, WA-The Chicago-based aerospace manufacturer says it plans to turn out the lights on 4,000 to 5,000 more jobs than it previously planned from its locally headquartered Commercial Airplanes division by the end of the year.
OAK BROOK, IL-Occupancy jumped 2.5 percentage points in the second quarter to 93%, according to CenterPoint Properties Trust. Twenty-three tenants new to the REIT's roster have taken 2.3 million sf so far this year.
SCOTTSDALE, AZ-The 388-unit Enclave Apartments leverage a $36.2-million conversion loan and $10 million in mezzanine financing to change the rental complex into condos. The 900-sf to 1,600-sf units will come to market later this year.