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HOUSTON-Parsons Energy passes on a build-to-suit and instead signs a medium-term lease for its six-year address, taking 175,925 sf. Another veteran tenant adds 50,000 sf to a 240,000-sf lease and the balance goes to a newcomer.
AUSTIN-Eleven East will break ground Wednesday, thanks to commitments from an office tenant and six retailers for the 57,000-sf project. Two commercial buildings, eight townhomes and six lofts are packaged into the East Side revitalization project.
DENVER-AIMCO, a major national apartment landlord, has announced its results for 2002. The numbers are reasonably good, mainly because of some property sales the REIT made last year.
SAN DIEGO-The San Diego-based company announces consolidated net income of $4.7 million or $0.59 per diluted share for the fourth quarter of 2002. The figure represents a significant increase from third quarter 2002, when the firm reported a net loss of $3.5 million or $0.45 per diluted share.
SEATTLE-The $7.5-million redevelopment of the Saxe Floral site will include a 33-unit apartment building with 2,000 sf of ground-floor retail as well as 32 for-sale townhome units in eight three-story buildings.
DETROIT-Four meetings will be held in Detroit and Ferndale, MI, regarding a train terminal project that will affect four counties. Resident and community leaders object to the potential for noise.
SACRAMENTO, CA-Nehemiah Corp. of California has raised $26 million for a real estate equity fund designed to invest in mixed-use development projects in low and moderate-income neighborhoods.
CHICAGO-The former Stateway Gardens public housing project will eventually turn into a $325-million mixed-income development, according to plans by Stateway Associates, who will start with a $16-million building at State Street and Pershing Road.
LONG BEACH, CA-Earth Tech, an international environmental services firm, inks what is believed to be the largest single lease signed by a non-government entity in Long Beach in the last 10 years. The headquarters relocation will take place in December.