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DALLAS-In the last 18 months, at least 15 new concepts have come to town, most often heeding Wall Street's advice. BJ's Brewhouse leases its second location, weeks before its first Texas opening, while the ritzy Smith & Wollensky buys a prime Dallas site.
ATLANTA-Third-quarter data shows a positive increase in absorption, yet 2002 is "the worst year in absorption since we began tracking office market data in 1987," Richard E. Bowers, president, Richard Bowers & Co., says in a new market report.
BALTIMORE, MD-Development of the Reginald F. Lewis Museum of Maryland African American History and Culture gets going courtesy of a $21.3 million cash infusion for construction from the Maryland Board of Public Works.
LONDON-Central London developers are putting speculative schemes on ice as a reaction to the depressed leasing market, according to new research from DTZ. More than 1.5 million sf of central London projects have been postponed over the past six months.
SECAUCUS, NJ-The footwear and apparel maker joins other recent signees Kitchen Collection and Extreme France at one of the country's earliest outlet malls.
FULLERTON, CA-The buyer of the property obtains $6.9 million in debt and $1.95 million in equity to acquire and rehabilitate the 88-unit Citrus Pointe complex. The two-story, wood frame and stucco complex was built in 1962 and has been renovated several times.
CHICAGO-Mortgage Bankers Association of America members hold sway over "tens of billions of dollars of insurance premiums," says Robert Vestewig, chief operating officer of Houston-based GEMSA Loan Services, which might influence the industry to adopt standardized certificates of insurance.
MIAMI-The 14,973-sf Stanford Electronics and 2,011-sf Universal Land Title mid-term leases are valued at about $596,300 combined. Stanford Electronics is moving into the building; Universal re-signed in the 97%-occupied center.
ROCKVILLE, MD-Ownership of the office building at 6006 Executive Boulevard changes hands as Philadelphia, PA-headquartered RAIT Investment Trust acquires the property from JBG/JER Twinbrook LP in a $10.6 million transaction.
BOSTON-City Mayor Thomas Menino's proposal to reinstate rent control has developers in this city up in arms. They insist that if it is enacted, the program could push developers to look elsewhere to build.