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BOSTON-The state's Supreme Judicial Court will decide a case concerning payments developers give to towns and cities to get the rezoning they need for their projects. The outcome has implications for all projects built in the state that require rezoning.
WHITE PLAINS-Commerce Bancorp, Inc. announces that it plans to open more than 30 bank branches in Westchester County in the next five years. The Cherry Hill, NJ-based bank plans to open four branches this summer, including two in White Plains.
HOUSTON-The developer's Pinemont Center hangs a "no vacancy" sign after wheeling and dealing for an 11,250-sf tenant for the two-building complex. The inbound tenant is the Press Room, now setting up its shop.
PHOENIX-The Barclay Group acquires the five-year office building, a 14,256-sf design with shades that automatically roll down on sunny days and bathrooms with showers. With the deed in hand, the firm is ramping up the move for its 40 employees.
HOUSTON-The 20-year-old office building at 810 Highway 6 in Houston's western tier sells after being on the market for six months at an asking price of $3.7 million. The upside potential is in the opportunity to boost occupancy, says the broker.
MALVERN, PA-After a second round of chemotherapy to combat lung cancer, Willard Rouse names Bill Hankowsky CEO of Malvern-based Liberty Property Trust. Hankowsky says leasing is the current priority; development of One Penn Plaza will await more pre-leasing.
BIRMINGHAM, MI-Two facilities now offer their owners better use for their dollar as Key Plastics relocates from multiple floors to one and a medical office building receives a $7.3 million loan for refinancing.
ORANGE COUNTY, CA-The county's office market remains statistically weaker than it was during the economic boom, but conditions have improved over the past year, according to two research reports.
BALTIMORE, MD-The 188,000-sf Chesapeake Park Plaza and the 210,000-sf, two-structure Webster Business Center find new owners in Webster Chesapeake Associates LLC, which acquired the complexes in a $12 million transaction.
YOKOHAMA, JAPAN-The previously self-managed Hotel Yokohama will be rebranded in fourth quarter 2003. Jones Lang LaSalle Hotels and the S&E Institute of Mitsui Fudosan Co. Ltd. worked on the deal.