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SAN FRANCISCO-A promising first quarter gave way to reality as vacancy, rental rates, absorption and leasing activity all worsened over the second quarter, according to the latest market report from Colliers International.
SAN DIEGO-DRA Advisors/Landmark Asset Management Group picks up the high-rise office tower that is home to First National Bank of San Diego and numerous other tenants. Located at 401 West A St., the 27-story building is considered a Downtown San Diego landmark.
POUGHKEEPSIE, NY-The borrower, who had a "time of the essence" purchase contract to acquire two multifamily properties within a 60-day timeframe, has closed on a $22-million bridge loan and a $25-million permanent mortgage.
ORLANDO-Larry White, president and CEO of the 20-year-old, locally based vacation resort communities development firm, says the company is cooperating fully with the investigation which focuses on Whitemark records covering the period since July 2001.
NORWOOD, NJ-An iCap Realty Advisors affiliate arranged the funding transaction, which totals $1.5 million, for the New Jersey-based developer who built the building back in the 1980s.
PALMDALE, CA-A building leased by the Bentonville, AR-based retailer draws interest from 100 prospective buyers for its long-term lease, which has 13 years left on the commitment. An investment group from Missouri scores the win.
SUITLAND, MD-The General Services Administration gets cracking on the development of a new $350 million headquarters for the US Census Bureau with the selection of Skanska USA Building Inc. to complete the design and build the 1.5 million-sf complex.
METROPOLITAN WASHINGTON, DC-Multifamily lender Independence Community Bank Corp. has made plans to expand its presence to the prospering Washington, DC region real estate market.
HOUSTON-The IBC Plaza rests at 93% occupancy after a trio of deals for 13,359 sf lights space emptied a year ago when a full-floor tenant exited. The directory's new names are Identigene, Hitachi American and the law firm of Townsend & Jones.
ST. LOUIS-One of the partners in the ownership group bought out the other, according to one of the brokers involved in the transaction, in one of the largest industrial investment deals nationwide in 2003. The 98%-occupied portfolio consists of 14 distribution centers located throughout the Eastern United States.