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ORLANDO-Metro Orlando's 29.4-million-sf retail inventory sports an average 7% vacancy level and is holding up well in a shaky economy and international terrorism crisis, according to a new industry analysis by the Orlando-Atlanta offices of Trammell Crow Co.
SAN DIEGO-Recently formed private real estate firm CruzanMonroe secures a $4-million loan to purchase the historical TR Produce Building in downtown San Diego and convert the industrial facility into restaurant and retail space.
JERSEY CITY, NJ - After a transaction arranged by Cushman & Wakefield of NJ, the new owner will spend some money on extensive capital improvements. The sale price was not disclosed.
PHOENIX-Deer Valley Unified School District will use the two-building, 89,595-sf project as its printing plant plus provide some extra warehouse space. The district gets some tenants in the take-over, but they will be gone in about a year.
WASHINGTON, DC-An international law firm becomes the first to grab space in the 220,000-sf Bowen Building, which is currently being redeveloped by a joint venture. Paul, Hastings, Janofsky & Walker LLP will have 70,000 sf among several floors of the 12-story edifice.
BRENTWOOD, CA-The Australian shopping center owner adds 17,233 sf to its quarters at 11601 Wilshire Blvd., expanding to 86,335 sf in a 10-year lease. Westfield becomes the largest tenant in the 95%-occupied high-rise.
SAN DIEGO-Construction on the $31-million, loft-style residential development will soon be underway, as phase one assessments show that no recognized environmental conditions caused by hazardous materials or wastes have existed at the site.
LONDON-The Universities' Superannuation Scheme has bought the Yardley Business Park in Basildon, Essex, from a joint venture between Minton Group and Mirravale Group for over pounds 26 million ($41 million).
WASHINGTON, DC-Sour economy; what sour economy? The Washington, DC office market continues to show little evidence of being a victim of the country's sagging economic climate, and investors such as Grerenwich, CT's Broadway Real Estate Partners are taking notice. Office vacancy rates remain at an average low of 5%.
ORLANDO-In addition to a 1998 settlement of $3 million, the court has ruled General Dynamics Corp., Stromberg-Carlson Corp. and affiliated companies also must pay the entrepreneur $650,000 in lost rent and cleanup costs for allegedly polluting his land in Sanford, FL between 1967 and 1991.