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DENVER-The Rocky Mountain News building in the Golden Triangle neighborhood will be acquired for $500,000 less than its appraised value. The city plans to build a $200-million jail at 100 Gene Amole Way.
VENTURA, CA-Pacific Prime Properties of Los Angeles acquires the clothing retailer's 240,598-sf former western regional distribution center and plans to refurbish it for multi-tenant use. The warehouse has the only 40-foot clear height in the county, according to one of the brokers in the transaction.
BOSTON-As part of Mayor Thomas M. Menino's effort to revitalize the Washington St. area, the city issued a building permit for the restoration of the Opera House. The 2,600-seat theater has been vacant since 1990 and is estimated at $31 million.
EVERETT, WA-Having recently closed on the purchase of 37 acres here for about $8.7 million, Panattoni Development Co. this week held a groundbreaking ceremony for the first of seven buildings that will comprise Seaway Business Center.
LONDON-German investment into UK real estate is expected to exceed euro 1 billion ($1 billion) in 2002 for the first time since the 1990s according to new research from DTZ.
SAN JOSE-Thanks to a unanimous vote of the City Council, the City of San Jose will proceed with its eminent domain plans to acquire the remaining portion of the Tropicana shopping center for redevelopment.
CRANFORD, NJ- The total reflects the company's transaction activity in Northern and Central New Jersey and is headed by a banking company's renewal for 385,000 sf.
RANCHO CUCAMONGA, CA-The Los Angeles-based company sees a demand for mid-sized industrial buildings in this land of big box warehouses, planning eight to 11 buildings of up to 60,000 sf.
PLYMOUTH, MI-During 20 years with DeMattia Group, Gary D. Roberts has led the push to develop the M-14 corridor and local business parks in the Detroit area. He has been executive vice president since 1997.
BLOOMFIELD HILLS, MI-Indianapolis-based Simon Property Group Inc. is willing to pay a record $17.50 per share, or nearly $900 million, to acquire upscale mall owner and developer Taubman Centers Inc., but the REIT is nixing all offers.