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CARPENTERSVILLE, IL-Village trustees in this far northwest suburb may grant preliminary plan approval next month for the 372-unit upscale Somerset Lake multifamily rental development. Rents will range from $995 to $1,600 a month for one- and two-bedroom units.
NEW YORK CITY-The firm inks a three-year contract to perform audit, strategic planning, lease administration, transaction management, acquisition and disposition services for 1,500 properties throughout Europe, the Middle East, Africa and Russia.
PHOENIX-MEGA Life and Health is taking over 75,011 sf in the 138,000-sf Concorde Corporate Center in a 10-year lease. A company, bought earlier in the year, will be consolidating its offices into the single location and gaining some room in the process.
NEW YORK CITY-During a three-hour event held Downtown in the Winter Garden yesterday, seven teams of architects and designers debuted their much-anticipated proposals for redeveloping the 16-acre site that formerly housed the World Trade Center.
DETROIT-The first luxury hotel to open in the Detroit market in 15 years is owned by Wayne County and managed by Starwood Hotels & Resorts Worldwide Inc. It was built by local firm Walbridge Aldinger.
HOUSTON-The GSA, acting on behalf of the FBI, decides to keep the Houston offices in the Northwest Freeway submarket, where vacancy is now 16.5%. A McCord Development team crafted the new deal.
GRAPEVINE, TX-A local developer will break ground in 90 days on a second building phase to the Southwest Office Park. The 10,000-sf office project was "sold" to the lender on the fact that it's two-thirds leased and its sister buildings are filled to the max.
PHOENIX-The coming year remains bright despite the soft showing in some sectors in 2002, says the Grubb & Ellis team in Phoenix at its annual forecast. Retail remains king of the hill. Still, there are a few hotspots in the other areas.
ATLANTA-Peter Mitchell will oversee property purchases for the locally based company's 1031 exchange program. He previously handled closings for the Atlanta-based REIT.
WASHINGTON, DC-Walls are ready to go up for the new 650,000-sf building that will serve as the International Monetary Fund's new headquarters. The $145 million, 12-story office structure will be ready for occupancy in mid-2005.