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FOUNTAIN HILLS, AZ-Construction will start within the month on a 5,000-sf Ironstone Bank, the institution's fourth in the Valley. The 1.3-acre development site is part of Four Peaks Plaza, a Kimco Barclay holding.
ATLANTA-Locally based Riverwood International Corp. plans to break ground in June on 300,000-sf of new warehouse/distribution space and convert an additional 150,000 sf for the project. The project is expected to add 100 new jobs to the local community.
DALLAS-Aimbridge Hospitality gets the portfolio going with 1,376 rooms in eight cities, all Wyndham Garden flags. The buyer's deck is stacked with Wyndham names and it's now the chain's largest franchisee, but its future isn't "married" to Wyndham.
WASHINGTON, DC-Government contractor Northrop Grumman renews its commitment to office space at 475 School St. with the recent signing of a new lease agreement for the five-story building.
HOUSTON-After six years, the Nashville owner parts with Pagewood Place in the Westchase submarket, saying the time was right to sell. The buyer is Titan Management, which out-finessed 10 others to take the deed.
PHOENIX-A California investor's $675,000 check ropes a fully leased complex with a positive cash flow of 15% after the seller, Ben Ruzmin of Phoenix, hinted it might be for sale. The property is just south of Camelback Road.
ORLANDO-The monthly tax collection numbers are watched closely by hotel developers and investors as a barometer of the area's industry health. The revenue comes from a 5% tax added to the guest's bill for each hotel and motel room used.
THOUSAND OAKS, CA-Believed to be the first medical facility ever built in this city, the vintage property is sold to a San Fernando Valley investor, who gets a fully leased 15,000-sf office building. A rehab has begun.
CHICAGO-Web sites and seminars covering such topics as lease audits are being used by the Alliance of Concerned Equity Tenants, an offshoot of the Service Employees International Union, challenging Equity Office Properties Trust's overhaul of property management and leasing operations.
ALBANY-A significant hurdle has been scaled by New York State and the St. Regis Mohawk Tribe in settling issues that could have thwarted the tribe from developing a $500 million casino resort in Sullivan County.