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NEW YORK CITY-The new 113,143-sf Utopia Center, which will be anchored by Barnes & Noble and Citibank, is being developed by Utopia Properties I LLC. Holliday Fenoglio Fowler LP arranged the construction loan.
DALLAS-The Chicago-based institutional owner wants to harvest some of the value it's added in seven years to a lifestyle center with an envious positioning on 14 1/2 acres on the edge of Park Cities. The demand for upscale Dallas retail pushes the offering.
PETERBOROUGH, ONTARIO-The German carrier plans a June move-in at a build-to-suit office property northeast of Toronto. CB Richard Ellis' brokered for the airline while the building owner was self-represented.
CHICAGO-Jones Lang LaSalle foresees vacancy rates rising Downtown to 16% by 2005, while the 16.3% predicted in the suburbs will be an improvement by four percentage points from current conditions. However, rents will show a moderate decline in the suburbs.
DENVER-Direct vacancies in the Southeast Denver office market ballooned from 13.6% to 18% over the course of 2002. The figure is even higher, if sublease space is included.
LONDON-In what one of the largest ever shopping centre portfolio deals in the UK, private investment company CIT has completed the pounds 325 million ($520 million) acquisition of the Charterhouse Shopping Centre Funds I & II from HSBC Property Fund Management.
MIAMI-DSP Developments plans to break ground on the $50 million, 21-story Fantasy on the Ocean in early spring. The tower will contain 198 units that will be rented out as hotel suites when residents are not living there.