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WASHINGTON, DC-The District wins out over the nearby suburbs in Northern Virginia in the bid to house the offices of the newly created Department of Homeland Security. Employees of the new cabinet will make their home in a four-story building within the Naval Security Station complex in the city's northwest area.
HONOLULU-The former JC Penney building will be broken up into 30 or more retail spaces, owner General Growth Properties revealed yesterday. Active marketing is already under way.
ALLENTOWN, PA -Sherwin Williams and Radio Shack renew leases totaling 5,500 sf at the 125,000-sf shopping center in Allentown, and Anderson Windows and Subway restaurants move into 4,800 sf, lifting occupancy to above 97%.
HOUSTON-The bank leases the spot for its 11th location, selecting a 116,251-sf, Kroger-anchored center in the northwest submarket. NewQuest Properties of Houston is the owner of Antoine Town Center, which opened in three months ago along Texas 249.
ATLANTA-The locally based bank paid $130 million in cash and stock ($42.80 per share) for nine-year-old Lighthouse Financial Services, the largest lender on the South Carolina resort island.
PORTLAND-The president of Portland-based Harsch Investment, a major player in several Western real estate markets, will give a presentation on how Portland stacks up against the rest of the West Coast. US Bancorp's Western Regional Economist John Mitchell also will be on hand.
NEW YORK CITY-If you're going to act like a partner in a corporate client's real estate strategy, you better start thinking like a partner, said CoreNet seminar panelists yesterday.
STOCKTON, CA-Eastbourne Investments of New York and Kitchell Development of Phoenix turn over the check to local developer, Alex Spanos. The plan is to break ground immediately on a 580,000-sf power center.
WESTMINSTER, CO-SunCorp Corporate Credit Union will consolidate its Denver regional operations bringing together its 70 Denver-area employees and item-processing activities into one central facility, expected to increase turnaround times for member transactions and requests.