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PHILADELPHIA-As major tenants continue to cut back at renewal time or sublease portions of space, vacancy in Cincinnati's Downtown office market grows nearly 3.4% since third-quarter 2001, a trend that researchers at CB Richard Ellis see continuing through year-end.
BLOOMFIELD HILLS, MI-The mall developer says third quarter results show modest gains thanks to new malls and low interest rates, but the retail environment remains difficult. Occupancy ends the quarter at 85.2%, up two percentage points.
COSTA MESA, CA-The company reports a penny-per-share profit of $200,000, compared with a loss for the comparable quarter last year, as revenue climbs by more than 8%.
VERNON HILLS, IL-AMLI at Museum Gardens is the only project on the multifamily REIT's 2003 development calendar. The upscale rental property will be built on Milwaukee Avenue north of Hawthorn Shopping Center.
MESA, AZ-Two local businesses grab a total of 11,000 sf of industrial space at Broadwood Business Center. The leases were signed within two days of each other. The development is about 90% occupied.
SAN DIEGO, CA-Carmel Valley Housing Associates LP wraps up its 112-unit Torrey Del Mar project three months ahead of schedule. The project was built by Wermers Multi-Family Corp.
LONDON-Liberty International has bought out its partners in the 956,000-sf Victoria shopping centre in Nottingham, paying pounds 204 million ($318 million) for the 80 per cent interest in the scheme it did not already own.
SAN FRANCISCO-One of the largest construction firms in the United States is being sued by the City of San Francisco for $30 million in damages, forfeiture of profits and potentially tens of millions, as well as additional damages and penalties.
BOSTON-Bain & Co. signs a letter of intent to take 120,000 sf at 131 Dartmouth St. The management consulting firm would be the 11-story, 353,000-sf office tower's first tenant and a real coup for the project, which has been struggling to fill its space.
MIAMI-A 31-year-old apartment complex is being converted into the Pine Crest Village at Victoria Park condominium development at a cost of $10 million-plus. The on-site sales center is set to open in two weeks.