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DENVER-While the multifamily rental vacancy rate is 8.4% statewide, the vacancy rate for affordable rental units hovers around 5%, according to the state's division of housing. Development has fallen far short of demand, a state report indicates.
ATLANTIC CITY, NJ-The Post Office is looking to replace its existing 65-year-old local facility with a new 28,000-sf complex that would include 6,000 sf for its retail unit.
TAMPA, FL-Owner Steven Green of Green Realty Management Co. LLC is refinancing the 168-unit, 94.6%-leased property through Fannie Mae's Delegated Underwriting and Servicing (DUS) program on a 10-year mortgage.
ATLANTA-The firm's senior vice president in charge of Atlanta operations since 1998 will also oversee Southeastern and Caribbean operations, in which the Florida and Puerto Rico management portfolios total 9.4 million sf of commercial real estate.
TEMPE, AZ-The ST Assembly Test Service, which caters to the semi-conductor business, will set up the office in 6,263 sf at the Agave Corporate Center in Tempe. The five-year lease is valued at $600,000 over its term.
CHICAGO-Residential redevelopment, senior housing, community or religious use are emerging as likely scenarios for three South Side parishes, offering 182,350 sf of space. Plans call for the Roman Catholic archdiocese to reinvest proceeds in the community.
KIRKLAND, WA-Northwest College intends to use the 35,000-sf Lakeview office building for its growing adult and professional programs. The college also intends to relocate administrative offices to the facility, which is located less than one-half mile from the 56-acre main campus.
MARLBOROUGH, MA-Hall Gillespie signs two high-tech tenants for Addition Hill Corporate Center, the 500,000-sf, 106-acre campus the company bought from Lucent Technologies five months ago. Cemprus and Integrated Quality Services are taking 26,364 sf and 7,944 sf of space, respectively.
FORT WORTH-Work could begin as early as next week on the 237-unit Hulen Bend Apartments, the first new project in a decade in the Fort Worth neighborhood. It's the second such project for Texas Affordable Communities, which is eyeing six for 2003.
DENVER-The occupancy rate of 59.5% in October is an improvement over the same month in 2001, only the third time this year that has happened, according to the latest Rocky Mountain Lodging Report.