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LONDON-The London Borough of Tower Hamlets has cleared the way for the final phase of the redevelopment of the Spitalfields Market site on the eastern fringe of the City of London, when it resolved to grant planning permission for the 800,000-sf Bishops Square scheme.
SAN RAFAEL, CA-The city of San Rafael expects a lot of opposition from Marin County residents regarding a proposal for a massive commercial and residential development that will take the last undeveloped bayfront parcel.
MIAMI-The $60 million, 115-room hotel has exceeded a 65% occupancy level in its first three weeks. The hotel occupies the first eight floors of a new 22-story tower, which also houses 88 condos.
SEATTLE-The proposal is for a six-story mixed-use building with 87 residential units, 2,500 sf of ground level commercial space and underground parking for 110. Preliminary design review is scheduled for next week.
ORLANDO-Softening restaurant and hotel markets are blamed for the Washington, DC-based company pulling out of a 10-year, 126,500-sf lease with four years remaining at the 733-acre Christopher C. Ford Industrial Park, operated by Lake County government near Groveland, FL, 25 miles west of Downtown Orlando.
NEW YORK CITY-At yesterday's BOMA conference, City Council member Alan Gerson said that new office guidelines on the World Trade Center site may be scaled back to six million sf, and that some of the displaced office space could move into Chinatown. Additionally, Council Land Use Committee chair Melinda Katz indicated that plans for a land swap with the Port Authority are no longer on the table.
RANCHO CORDOVA-Passco Real Estate Enterprises acquires Ranch Cordova Town Center from Center Properties Inc. The property, anchored by Target and Pier One Imports, is located 15 miles from Sacramento.
SPOKANE, WA-The locally-based hotel owner, manager and franchisor enters an agreement to unload the Kalispell Center Mall and WestCoast Kalispell Hotel. Terms of the deal, expected to close in the next several months, were not released.
SHREWSBURY, MA-Spag's Supply, a retail institution for 68 years, is purchased by Building 19, a Hingham, MA-based discount retailer. The deal includes Spag's 13-acre complex, which comprises three main buildings and a warehouse.
PORTSMOUTH, NH-Lodging Econometrics, a locally based hotel industry research firm, indicates that the development pipeline for hotels nationwide is slowing down, providing the industry with an opportunity to recover from the economic recession and the 9/11 terror attacks.