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IRVINE, CA-Irvine Medical Holdings breaks ground on the 43,000-sf speculative project on a 3.1-acre site in the Irvine Spectrum. The developers cite a medical office market with a 2% vacancy rate.
CARLSBAD, CA-The Carlsbad-based company reports a net loss of $0.19 per diluted common share for the nine-month period ended September 30, 2002, as compared to a net loss of $1.7 million or $.03 per diluted common share for the same period in 2001.
PHOENIX-Transwestern Commercial Services' aggressive marketing closes four deals to help ease the 270,000-sf hit from American Express' walk-out in June. All are long-term deals and all got good rates, say the brokers.
LOS ANGELES, CA-The inner-city development by Capital Vision Equities and National League Football player Keyshawn Johnson win $43 million in public funding. It will include a shopping center, homes, and senior apartments.
DALLAS-The bottom line was one million sf of overall negative absorption. Still, vacancy is 9% for the 632.1-million-sf inventory. The Q3 engines are the DFW Airport and Alliance Airport, the only submarkets with positive rent growth and absorption.
DENVER-Permits for multifamily rental units fall 71% in September over the same month in 2001, according to the latest report by the Home Builders of Metropolitan Denver, with permits down 65% for the first nine months of the year.
PORTLAND-The city, which signed a 10-year master lease for the seven-story Old Town building, began paying $96,270 per month in rent in August 2001. The building's 50,000 rsf are now 22% occupied, reportedly at annual full-service rents in the mid-to-high teens per sf.
SAN FRANCISCO-The city's newly appointed planning commissioners made public their ideas and goals this weekend. Meantime, Planning Commission President Hector Chinchilla has been charged by city prosecutors with seven misdemeanor conflict-of-interest violations during his tenure.