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PHILADELPHIA-Following a series of appointments, the commercial real estate finance arm of Horsham, PA-based GMAC establishes an office of the chairman and promotes two executives to top spots in the new office, described as the lending company's "senior decision-making body.
DALLAS-Panattoni captures the contract for the 220,000-sf project, which breaks ground in early 2003. The locally American Leather, looking for a year, decides on 21 acres in the Mountain Creek Business Park.
MADRID-Hines is partnering with Monthisa to build a 215,000-sf, seven-story office building near Madrid's downtown. Work gets under way in early 2003, with a late 2004 unveiling marked on the calendar.
TORONTO-The two deals bring the firm's '02 Toronto leasing tally to more than one million sf. CIBC and Unisen Inc. are the focus of the two newest deals.
SHANGHAI-Legerity will keep its Hong Kong office, but shift its Asian headquarters to Shanghai, China. The company says the headquarters change saves money. In Austin, Legerity is a 100,000-sf tenant in the southeast submarket.
DETROIT-A redevelopment group assembled by Mayor Kwame Kilpatrick brings money and resources together in a plan to build parks, retail and 1,000 multifamily units along the Detroit River.
PHOENIX-Building owner, First Industrial, gets a six-year tenant in a signing valued at $350,000 over its term. The tenant, Glass Doctor, gets newer, nicer and larger working space in a move to the Baseline Foothills industrial project.
WACO, TX-Tractor Supply is planning to break ground in January on a distribution center that will triple its space in Waco and boost its local investment to $10 million. The 55-acre site is part of the 1,320-acre Central Texas Industrial District.
CLARENDON, VA-The $70-million mixed-use project, 2900 Clarendon, takes a giant leap forward with the County Board of Arlington's recent approval of the proposed site plan. Construction of the office, retail and residential endeavor is to begin in the second quarter of next year.