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VANCOUVER, WA-The Vancouver Public Facilities District board of directors on Friday delayed choosing a developer until its next meeting, which is scheduled for Oct. 23. So far, the Port of Vancouver's proposal provides the city's coffers the most protection if the development is a failure.
SAN ANTONIO-The Outspan Townhomes will have 120 units for working-class tenants while the balance will go for market rate. The complex, fueled by a Freddie Mac loan of about $9.2 million and tax credit buy, is being built near the city's new sports arena.
SEATTLE-The combination of 888,000 sf of new construction deliveries and minimal leasing activity resulted in 83,000 sf of negative net absorption in the third quarter, according to the latest report from Grubb & Ellis, which predicts "a slow recovery sometime over the next 12 to 24 months.
PHOENIX-The Q3 promise from a near 225,000-sf net absorption is short-lived amid a prediction of a slight downturn in the fourth quarter. The positive showing, though, was the first good sign in 16 months.
HOUSTON-The Office at Piney Point, totaling 155,179 sf, sells to four tenants in common, who took out a 20-year loan for the acquisition. The 4.4-acre property is part of an upscale village in southwest Houston.
RANCHO BERNARDO, CA-The aerospace technology company now occupies more than 757,000 sf at its existing site in Rancho Bernardo, as construction has wrapped up on the firm's new 211,000-sf office and engineering facility and five-story parking structure.
WHITTIER, CA-Hopkins Real Estate Group and Lennar Partners buy the 65-acre mall for $49 million and plan to partially deconstruct and transform it into an outdoor mixed-use development.
BREA, CA-The San Francisco-based REIT acquires the three-building, 431,311-sf industrial center from a Newport Beach entity that held it for 10 years. About 370,000 sf in the development is available.
SAN FRANCISCO-After overcoming a slew of legal and development challenges, developers of the 1.4-million-sf Bloomingdale's project are ready to go, despite the gloomy market that it will break ground in.
ROYAL OAK, MI-Schostak Bros. claims the economy is forcing the firm to alter plans for a $55-million development. It now wants to build a hotel first instead of a seven-story office building.