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ATLANTA-The 50-story property's meeting space of 125,000 sf is being increased by 7,000 sf, while the number of breakout rooms will rise to 13 from eight at the 1,675-room, two-tower hotel in Downtown's Peachtree Center.
PEORIA, AZ-Power Partners of Thousand Oaks, CA, had intended to build a 70,000-sf self-storage facility on the four acres at a prime corner in town. Shortly after the acquisition, three offers and 10 inquiries rolled in, the last being too sweet to refuse.
DENVER-The apartment vacancy rate in the metro Denver area is at its highest level since 1986, when the market was suffering from the oil boom crash, according to the Denver Metro Apartment and Vacancy Report.
COSTA MESA, CA-The university picks Costa Mesa as the new location for its largest Orange County campus, which will move from Fountain Valley in the fourth quarter. The seven-year lease secures 75,000 sf of class A space.
PHOENIX-At least 15 would-be buyers lined up for the Burger King property due to the 18-year lease and location abutting a busy shopping center along North 35th Avenue. The winners were a doctor and his wife from San Juan Capistrano.
WASHINGTON, DC-Privatization appears to be the key for the US Air Force's plans to improve on-base housing and the military faction turns to real estate services firm Jones Lang LaSalle Inc. to provide oversight and implement solutions.
BOSTON-Two trucking companies put two one-acre parcels in the city's South Boston neighborhood up for sale. The properties are located near the new Convention Center and close to the redeveloped Seaport district and South Boston's residential neighborhood.
SAN DIEGO-Grading has already begun on the development, which will encompass between 600,000 sf and 800,000 sf on completion. Company officials say the project accounts for 60% of the buildable land for commercial development currently available along the Highway 56 Corridor between the I-5 and I-15 freeways.
ATLANTA-Wall Street is speculating that Douglas Crocker, 63, who <a href="http://www.globest.com/RMIFN2A8NED.html">recently resigned</a> from the board of Chicago-based Equity Residential, will be president and CEO of Post Properties Inc. if former chairman John A. Williams has his say.
HOUSTON-The portfolio overall is 91.4% occupied, but FFO is down and so is the net income in a quarter-to-quarter comparison for the first accounting period of the year. Of course, the REIT also completed four more communities in the quarter.