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RANCHO CUCAMONGA, CA-Panattoni Development Co. buys 19.6 acres for the industrial project from 7th Street LLC for $4.3 million. The property is rail-served and close to the I-10 and I-15 freeways.
MIAMI-The Codina Realty Services Inc. ONCOR International report states this vacancy level will continue this year but offers hope for a brighter future. New and returned space also contributed to a negative YTD absorption rate of 913,906 sf.
BALTIMORE, MD-Plans to facilitate the $19-million emergence of a new 116-room Hampton Inn & Suites from a an historic office building move forward with a $3.5-million financing package from Texas's Hall Financial Group and North Carolina-based Winston Hotels Inc.
FORT WORTH, TX-A strategic location and lower operating costs helps seal the deal for electronics giant Motorola, which will move its distribution operation from Illinois to Fort Worth, bringing with it hundreds of jobs.
PHOENIX-After one week on the market, Mayaler Inc. of Aspen, Colo. grabs Tatum Professional Plaza, a strategically located, 93%-occupied medical office building with an all cash bid.
ATLANTA-The privately held, 118-property extended-stay hotel chain logged weekly revenue per available room of $150.17 and $151.28 for the third quarter and nine-month period respectively versus $149.84 and $148.97 in the 2001 periods.
SEATTLE-The Port of Seattle is now seeking building permits for the $16.5-million, 90,000-sf passenger building at Terminal 30, which will be able to handle larger ships than currently call at Pier 66.
WICHITA FALLS, TX-A five-year, 6% loan of $1.9-million finances the acquisition of the Wichita Falls Shopping Center by a Texas-based investment partnership. The shopping center is 96% occupied.
SAN JOSE-The eagerly anticipated House of Blues nightclub will not be coming to this Downtown after all, but city officials are confident that one of five interested developers holds the key to a viable entertainment venue.
ORLANDO-Frustrated by overcrowded classrooms and a lack of funds to build new schools, county officials await a consultant's report that could hike impact fees to over $2,000 per home for subdivision developers, comparable to neighboring Orange County amounts.