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MIAMI-A new report by Apartment Realty Advisors in Boca Raton, FL points out that physical barriers to entry and a decreasing supply of multifamily land have attracted apartment investors to Miami-Dade County and other South Florida areas.
CHICAGO-Occupancy at Sears Tower is 89.2%, while the rest of Trizec Properties Inc.'s Downtown portfolio boasts a 94.4% occupancy rate. Both are better than the market, thanks to the REIT getting a jump on 2003 lease renewals.
AUSTIN, TX-As incentive for the 42-acre project in North Austin, the City of Austin agrees to rebate to the owner a percentage of the property and sales taxes the development will generate over the next 20 years.
DENVER-Set to open in mid-June, Tommy Bahama's new store in Cherry Creek shopping center will be a first for Denver although the brightly colored clothing has been available in 50 stores in Colorado.
ATLANTA-Candy McIntyre, a former executive at PM Realty Group, Prudential Real Estate Investors and TMW Real Estate Management, becomes vice president of leasing services in the four-broker office of Houston-based Transwestern Commercial Services.
WASHINGTON, DC-The demand for intown housing ranging from luxury townhouses to your basic apartment is holding steady, according to real estate industry insiders attending a recent Urban Land Institute forum.
FORT LAUDERDALE-Patricia E. Flattery moved from the Philadelphia business unit to become vice president of property management for Trammell Crow's South Florida market. She is now based in the company's office here.
SAN DIEGO, CA-Centre City Development Corp.'s board of directors approves design reviews for two new multifamily projects slated to rise in Downtown San Diego. One development is slated to rise at 6th Avenue and Market Street, while the other project is planned for 11th Avenue and J Street.
FORT WORTH-The communications giant and Advanced Excelsior strike a five-year deal that preserves expansion space in a 79,000-sf building leased for the next 12 years to Qwest. The foam products maker will relocate in the coming weeks.
LONDON-Beleaguered hotel chain Le Meridien is to revalue its global portfolio. The move is thought to presage possible sell-off of properties in order to reduce the company's debt mountain.