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ATLANTA-As tenants continued to scale back operations and inventory, the third-quarter metro industrial vacancy rate rose 2.3% over the same period a year ago, according to the local CB Richard Ellis office. The overall rate averages 13.7%.
SAN ANTONIO-Roger Ship of Austin and his San Antonio partner are in final talks for the state's first two Red Robin Gourmet Burgers locations. Seven eateries will open in Central Texas in the next five years while up to 30 are planned for the state.
DALLAS-Marsh & McLennan Cos. stamp 2002's second-largest office lease for the Dallas CBD. Brokers say the 12-year lease was complex to structure because take-downs are being done in three stages over the next five years.
HOUSTON-The triple play puts new tenants into three of the 10 buildings in the Crescent-owned office complex. An IT consulting firm for the health-care industry takes the largest chunk, 14,068 sf.
ALEXANDRIA, VA-Construction of Avalon at Arlington Square II--the 332-unit, final phase of a two-part development project--has come to an end. The $42.6-million luxury community of apartment homes is already 63% leased, and came in under schedule and under budget.
CHANDLER, AZ-Three months after buying out Westcor, Macerich refinances its showcase asset, Chandler Fashion Center. The $184-million loan pays off $160 million in construction financing that comes due in December.
LOS ANGELES, CA-Room rates are down from their peaks in 2000, and occupancy remains flat compared with last year, but most owners are on solid ground because they can easily meet debt service, according to Grubb & Ellis.
DETROIT-More than 250 acres in a prime Oakland County development area would be kept vacant by Oakland Land Conservancy. A Nov. 5 referendum could transfer three parcels, totaling 240 acres, for $10,000.
OAK BROOK, IL-A $30-million industrial property sale in Pleasant Prairie, WI as well as the the 621-acre parcel at the Elwood, IL intermodal center leased to Burlington Northern Santa Fe are in serious negotiations, according to CenterPoint Properties Trust.
VANCOUVER, WA-The 36,000-sf shopping center on Mill Plain Boulevard is adjacent a 57-acre mixed-use project being developed by Opus Northwest. Markley is a Portland-based owner of retail and industrial properties in the Pacific Northwest.