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SAN DIEGO-San Diego County's unemployment level continues to drop, as a new report by the state's employment development department says it fell 0.3% from November to December 2002.
DALLAS-Eagle Global Logistics strikes sale/leasebacks for a second offering of distribution centers with soon-to-expire synthetic leases. Macfarlan buys the 261,700-sf package with centers in Austin and Grapevine, TX and South Bend, IN.
SPOKANE, WA-The 4.2-million-sf development, the largest contiguous business park in a multi-state region, is 90% leased. Major tenants include Boeing Commercial Airplane, Boise Cascade, Weyerhaeuser Company, IEDS, Huntwood Industries, Columbia Lighting and CXT Corp.
LONDON-The retail sector is set to emerge as the top-performing property sector according to new research from CB Richard Ellis. A shortage of product is continuing to drive up capital values.
SCOTTSDALE, AZ-Bardon Insurance buys 8326 E. Hartford Dr., the third to go in the six-building sale of the Sonoran Corporate Center. The new owner will occupy up to 70% and lease the balance.
AUSTIN-Scribcor Texas from Amarillo corners a three-year contract to manage the state's portfolio of leased sites, which carry a monthly rental tab of $10 million. Scribcor hopes to shave that cost by 15%. The firm's commission-based pay has a ceiling of 4%.
PORTLAND- The 217,000-sf building will have 17,000-sf of commercial space for lease on the first floor. The second floor will house a computer lab and other academic space. The rest of the building will be built out as 384 studio apartments.
ALISO VIEJO, CA-A 1031 Exchange buyer from Santa Fe Springs, CA acquires the 128,206-sf multi-tenant property from Lend Lease Real Estate's San Francisco division. The property at 100-150 Columbia Dr. was about 90% leased at sale time.
SACRAMENTO, CA-Country Club Plaza, a huge Sacramento retail complex, will undergo a major facelift and expansion, according to Buchanan Street Partners, which arranged for $42 million in financing for the redevelopment of the project.