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PHILADELPHIA-The Rochester, NY-based grocery chain will start work on a 320,000-sf, two-building distribution center on 117 acres at Highridge Business Park, eventually encompassing 1 million sf with baking and meat processing facilities.
LONDON-Distribution property specialist ProLogis has entered the Czech market with the purchase of the D1 Logistics Park on the outskirts of Prague. The park already provides 870,000 sf of warehousing, with potential for another 860,000 sf.
DARIEN, CT-In a deal valued at more than $10 million, Equinox Fitness has made its entrance into the Connecticut marketplace with a 30,000-sf lease deal at 72 Heights, a former UPS building located across the street from The Noroton Heights train station.
ATLANTA-Faced with declining revenues, 19.2% of hotels were unable to cover their interest obligations in 2001, according to a new study by locally based PKF's Hospitality Research Group. That is up from 16.4% the previous year. Refinancing kept the increase from going higher.
ORINDA, CA-The Orinda Union School District wants to turn the Pine Grove School site into a profitable development and has presented preliminary plans for a new housing project.
OLYMPIA-Opus Northwest, M.A. Mortensen, Landmark Organization and VIP International Corp. each submit proposals to develop a publicly owned conference center on one of three pieces of property, while a fourth proposal would put the facility in a decommissioned art deco ferry.
DENVER-Some office buildings in the northwest submarket, such as recently-completed 390 Interlocken, remain entirely empty, notes a third-quarter report by Denver's Julien J. Studley office. No signs of recovery are seen there or in the southeast submarket, according to the tenant rep specialists.
SCOTTSDALE, AZ-The Salt River Pima-Maricopa Indian Community hopes to break ground by year's end on an office project that will lead off a 5,500-acre, long-range plan for high-end commercial and industrial development.
PHOENIX-The Southwest Service Administrators will move into 10,584 sf to fill about one-fourth of an office emptied in June. The inbound tenant gets the keys Dec. 1 for Northwest Business Center IV.
AUSTIN-John Lloyd acquires the acreage from a family trust and immediately sells 80 acres in a turn-around play. His buying strategy rests on Austin's rebound and the strength of the land's proximity to the airport.