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TROY, MI-The next round of closings for the department store chain, engaged in Chapter 11 bankruptcy proceedings, is expected to be less than 500, says the retailer's restructuring officer.
TRENTON, NJ-The Los Angeles-based visual effects producer expects to spend up to $60 million to create an East Coast headquarters on the old Roebling Steel property.
SAN DIEGO, CA-According to a new report by Hendricks & Partners, multifamily demand here has strengthened over the past four quarters with "substantial improvement" experienced in the third quarter of 2002.
BOSTON-Crum & Foster leases 22,047 sf at 60 State St. in a sublease deal from the Pioneer Group. The insurance company is relocating some of its operations from the suburbs and a broker involved notes that the current market is perfect for tenants looking to make that move.
LOS ANGELES-The three office properties, acquired by CB Richard Ellis Strategic Partners II LLC, include buildings near Giants Stadium in East Rutherford, NJ, in Boston, and in Irvine, CA.
PHOENIX-Sidehill LLC of Willmington, MA uses a 1031 Exchange to buy a 76,950-sf distribution center in the Papago Industrial Park. Big O Tires is the sole occupant in a lease that doesn't come due for another eight years.
LONDON-Meridian Delta--a joint venture between Lend Lease and Quintain--has made its long-awaited planning application for the 190-acre Greenwich Peninsula in east London, which includes converting the Millennium Dome into a 26,000-seat events arena.
ALEXANDRIA, VA--Riggs Bank NA takes on a 4,000-sf space in Old Town Alexandria to house its first financial center, Riggs Financial Center at Tavern Square. The bank moves forward with a 10-year lease on the space, as well as two five-year options.
CHICAGO-The first rewrite of the zoning code in 45 years fails to meet the needs of the working poor and persons with disabilities, a city council committee hears. The entire zoning ordinance could pass in the second quarter of 2003.
ORLANDO-Transaction terms weren't disclosed but area brokers intimate with the 11-month-old deal tell GlobeSt.com the prime parcel in Celebration, FL commanded at least $500,000 per acre or an estimated $200 million.