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BOLINGBROOK, IL-Metro Service Provider Corp. has taken 9,000 sf at 440 Quadrangle Dr. in a relocation from Wheaton, the largest of 20,000 sf of lease deals that brings occupancy at the property to 96%.
ST. AUGUSTINE, FL-James F. Jacoby, who is building the $2 billion, mixed-use Atlantic Station in Midtown Atlanta, plans to break ground this fall on an estimated $25 million enterprise, encompassing 100 condos, 80 single-family residences and about 25 office/loft structures.
DENVER-According to a report compiled by Robert S. Benton & Associates, the hotel market continues to struggle with year-to-date occupancy still below 2002 levels. Hotels around DIA boasted the highest occupancy rate.
ATLANTA-Calling John A. Williams "the case of the CEO who wouldn't leave," Post Properties Inc. president/CEO David P. Stockert and chairman Robert C. Goddard III tell stockholders their investments could shrink if Williams wins his current proxy fight and returns as CEO.
SCOTTSDALE, AZ-Mark Taylor Residential obtains the permanent financing through Wachovia Securities in a deal packaged by LJ Melody. The 180-unit complex, built in 2000, is positioned at 6400 E. Thomas Rd.
HOUSTON-Trimark Realty Investments outbids six others for the Westfield Apartments after the asset returned to the market because a non-profit failed to make the close in January. With the deal now done, a $1.3-million rehab is waiting to start.
ARLINGTON, TX-After two years on the market, the 100-unit Presidents Corner has traded to an Arizona investment group, which secured a "full-dollar loan" to close the deal. The buyer has another 579 units in two properties in Dallas under contract.
DENVER-Despite 1Q03 numbers showing revenues for the world's largest industrial REIT fell from 172 million to 159 million, ProLogis reports that these were in line with expectations and sees conditions stabilizing.
SOUTHFIELD, MI-Ramco-Gershenson expects funds from operations per share will be between $2.23 and $2.33 per share in 2003, after a 20% increase in revenues.
ANAHEIM, CA-Cort, a national furniture rental and business services firm, signs for seven years and $1.4 million in rent over the term for an industrial building along Anaheim Boulevard. The keys turn within 60 days.