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DALLAS-A Houston developer starts site work on 16.3 acres, the lone multifamily tract in the 900-acre industrial park. An assumable HUD loan leverages 90% of the 332-unit development, which delivers in April 2004.
TUCSON-The restaurateur is scouting for the sites for a five-year roll-out plan to boost the count to seven in the Tucson area. The father-and-son team of William and Joseph Leto are the franchise developers.
CHICAGO-The 420,000-sf building at 555 W. Monroe St., 97% leased to Quaker Oats Co. is sold by Strategic Partners, LP, CB Richard Ellis Investors' $700-million value-added fund, to one sponsored by Prudential Insurance Co. and Prudential Investment Management, Inc.
LONDON-Nicholson Estates and Sainsbury's Property Company have been selected six-acre East Street regeneration project in Farnham, Surrey. They pland a 243,000-sq retail-led scheme.
DENVER-Apartment Association of Metro Denver executive director Mark Williams is not surprised one of every five African-American multifamily rental prospect faces discrimination.
DETROIT-A 135,000-sf Sam's Club will be going up in Roseville, MI, while a building in Madison Heights, MI will become Chicago-based Universal Granite & Marble Inc.'s metropolitan Detroit location.
PHOENIX-Scientific Games of Atlanta takes 23,600 sf for the long term in a 68,000-sf building at 4325 S. 30th St. The move-in is set for Dec. 1. The decision was mortared by the proximity to the state's lottery headquarters.
ORLANDO-New Q3 statistics from ColliersArnold Commercial Real Estate Services show vacancies dipping to 11.65% from 11.85; net absorption increasing to 48,115 sf from a negative 151,598 sf; and average quoted rents rising to $15.49 per sf from $15.12.
SAN DIEGO, CA-According to a new report, the local office vacancy rate rose slightly in third quarter 2002 to 13.49% from 12.68% in the second quarter of this year. This increase was mainly due to the 390,000 sf of new office space that came online in the third quarter.
LOS ANGELES, CA-Chicago's Walton Street Capital acquires the 646,000-sf, 94%-leased office tower from the Hertz Investment Group. CB Richard Ellis gets the listing and property management for the 40-story skyscraper.