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DENVER-Vail boasted the highest average room rate in April, even higher than Aspen. But despite great snow in Vail, it could only muster a 37.8% occupancy rate.
PHOENIX-Suburban retail developers are off and running with projects in Peoria, Phoenix and Surprise. The most expensive in the pack is the 40,700-sf Peoria Station, rising at a cost of $2.7 million.
SANTA ANA, CA-Barclay & Co. acquires the research and development building in the Orange County Airport Area submarket from Newport Beach-based French Co. The building along South Fairview Street is 100% occupied by two tenants.
ORLANDO-David A. Siegel says he is ready to sign a 99-year lease with the state and put $5 million into a maintenance bank escrow account to operate the recently closed Cypress Gardens attraction, even if it becomes a losing proposition for him.
STAMFORD, CT-GE Commercial Finance and Health Care Property Investors Inc. formed a joint venture that they say has its sights set on spending $600 million to acquire medical office buildings throughout the United States.
DENVER-In yesterday's runoff election, restaurateur and developer John Hickenlooper trounced his opponent in a contest to become the mayor of the nation's 25th largest city.
CLERMONT, FL-One outparcel at East Towne Center in the bustling Orlando bedroom community of Clermont sold for $1.3 million--after the owner only asked $1 million. Broker Trevor W. Hall Jr. of Colliers Arnold handled the deal.
SAN DIEGO-The Broe Cos. Inc. revamps its Fourth Avenue Corporate Center property, a 91,143-sf office building at the corner of Fourth Avenue and Cedar Street in downtown.
CONSHOHOCKEN, PA-An overall office vacancy rate of 21.9% here is prompting property owners to offer aggressive rent structures. According to the Philadelphia regional office of Trammell Crow Co., this suburb has experienced rent decreases of up to 30% since mid-2002.