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PAYSON, AZ-The 29,000-sf facility will deliver in June 2003 as a centerpiece to the 18-hole private Rim Golf Course, anchor for an upscale mountain community with commanding views of the Mogollon Rim.
HOUSTON-The CBD, for the year, is now 650,694 sf in the red. Vacancy overall has edged up to 13.54%. Rent is flat. More job cuts are coming. The upshot is troubled times are ahead for the Houston office market, according to Trione & Gordon.
DALLAS-The 100%-occupied, 75,849-sf office building at 10210 N. Central Expressway fits the model of what German investors like to reap for their money. The buyer's Dallas broker acquired the property on behalf of a family partnership.
FORT COLLINS, CO-The 61,831-sf shopping center on 2.77 acres at 420-60 S. College Ave. is anchored by a Safeway. Greg Benjamin, vice president of NorthMarq's Denver office, arranges financing for BoReal Builders.
HOUSTON-Knowledge Reservoir adds 3,149 sf of direct space to its 7,458-sf office at Crescent's 1800 W. Loop South. The firm moved into the 10th-floor office in February 2001 in a deal with CHI Energy.
MIAMI-The Fort Myers, FL-based home furnishings store plans to take over 80,000 sf formerly occupied by Jacobson's. This lease, for Robb & Stucky's 14th store, is expected to be signed within a month.
PHILADELPHIA-Unity House, an abandoned 675-acre resort in Bushkill, PA that was once a retreat for the garment workers' union, is being converted to the Mount Laurel Center for the Performing Arts and the summer home of the Pittsburgh Symphony orchestra.
IRVING, TX-Half Price Books, Records and Magazines will close its Irving Marketplace store and open doors in mid-February 2003 on a 9,438-sf inline spot at Irving Towne Center. The deal has been two years in the making.
MARSHFIELD, MA-The town's planning board wants a 100-acre parcel near Route 139to be designated a mixed-use overlay district. The rezoning would allow the town to have more control over how the property, currently unused, gets developed.
SALT LAKE CITY-The buyers waste no time in buying the former University Club for 60% of the replacement cost, taking out a $16-million loan. The 217,035-sf building in Salt Lake City's CBD changes hands and gets a new tenant to boost occupancy to 96%.