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ORLANDO-New Plan Excel Realty of New York and Sembler Co. of St. Petersburg, FL are demolishing the 30-year-old, 927,000-sf enclosed retail center in Clearwater, FL and replacing it with a 788,000-sf open-air shopping site next fall.
LONDON-New research from the College of Estate Management at Reading University says new technology is loosening the ties that once bound financial services companies to the City of London. Many businesses plan to relocate to cheaper locations, while those that plan to stay will require less office space.
SANTA NELLA, CA-A Walnut Creek couple has invested approximately $5 million into the purchase of the 161-room The Ramada Inn, Mission de Oro Hotel in Santa Nella, just south of Stockton.
SAN DIEGO-The county's unemployment rate is on the wane, according to recently released government statistics. The October report, published by the State of California Employment Development Department, says that September's unemployment rate was 4.1%, down slightly from 4.2% in August.
CHICAGO-A slide in consumer confidence bears watching, RBC Financial Group managing director William Jandristis tells an audience at the Network of Commercial Real Estate Women convention, especially if consumers are tapped out of refinancing and home equity loan options.
IRVINE, CA-The acquisition loan includes funds for minor improvements and leasing costs for 28,000 sf of empty space in the 74,000-sf, circa 1980s building on Von Karman Avenue.
HOUSTON-The Alameda Chateau, a 206-unit complex along Kingspoint Road, is bought by a Brooklyn investor with a propensity for class C product. The 23-year-old complex boasts an occupancy in the mid- to low 90% range.
ATLANTIC CITY, NJ-The gaming giant's proposed $1.5-billion Marina District casino-hotel, in the works for almost seven years, has been put back on the shelf as the company looks for other ways to spend its money.
ORLANDO-The president of NAIOP's Central Florida chapter tells GlobeSt.com new lease demand in the industrial real estate market is weak while renewals are at a record high as tenants go for shorter terms, holding off expansion plans.