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GRAPEVINE, TX-Euro American Advisors, a land speculator in Dallas-Fort Worth, has starting wooing the hospitality industry now that it's closed on the land, capping six months of negotiations with a Texas family partnership.
HOUSTON-The Iglesia Pentecostas Elfeso will use the 4,000-sf showroom and two-story office for the main chapel as it sets about converting the 50-year-old address of Gateway Lumber for use by its congregation.
LONDON-Car manufacturer Honda has reported a pounds 6 million increase ($9.77 million) in the value of its land in Swindon since it opened the plant in 1989. Land values in the area have soared since the car plant opened.
OAK BROOK, IL-With occupancy averaging 99.1% in Great Lakes REIT's 458,150-sf medical office portfolio in suburban Chicago, the asset class is just what the doctor ordered to offset high vacancy rates most everywhere else. Equity partners also have come knocking, the REIT says.
MIDDLEBOROUGH, MA-Great Island Development gets a three-year acquisition/repositioning loan for Middleborough Crossing. Great Island plans to upgrade and redevelop the center, which is currently leased to 13 tenants.
CHICAGO-The office and industrial REIT continues to consider options that could range from asset sales or the sale of the entire company with help from Merrill Lynch & Co. Newton, MA-based Northland Capital Investors, LLC had proposed a recapitalization plan.
AUSTIN-In two years, the selling price for office buildings fell $26, with the last calculation averaging out to $119 per sf, says Gold Eagle Investments of Austin. With sales and prices down, sellers are holding on rather than hanging "for sale" signs.
SCOTTSDALE, AZ-Oak Street Mortgage grabs 11,000 sf of class A space in the 312,000-sf, mixed-use building in Scottsdale's CBD. The mortgagor is eyeing an April 1 move from midtown. Price and amenities firm up the deal.
CANTON, MI-Two CPAs have had success in the theater market with offers of modern amenities at three locations, as well as beer with your popcorn. Now they are building on that success.
EMERYVILLE, CA-After experiencing what CEO Steve Jobs calls "the most financially successful year in Pixar's history," the company is ready to expand its existing campus in Emeryville.