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WILMINGTON, MA-The foundering telecommunications industry claims yet another victim as Nortel Networks decides to close CoreTek, the local laser company acquired by the Canadian-based telecommunications company two years ago for $1.43 billion.
FARMERS BRANCH, TX-A San Francisco LP had its broker searching for the "Best Buy." Sperry Van Ness scores a homerun with a 138,000-sf property that never made it to market thanks to a Monday morning national sales huddle.
TEMECULA, CA-Construction wraps up on the Pechanga Resort and Casino, which is valued at $175 million. The project includes a 14-story hotel, a two-story casino and a central plant.
ROCHESTER HILLS, MI-A plan for the former Letica plant, which would have seen a new city public works building built on the site, has died, Rochester Hills officials say. The 22 acres will likely be sold for another industrial use.
ATLANTA-The Brentwood, TN-based owner and operator of 61 hospitals negotiates to buy all but one of the hospitals owned by Memphis-based Methodist Healthcare. The package encompasses 676 beds at facilities in Brownsville, Dyersburg, Jackson, Lexington, Martin, McKenzie and Selmer.
ARLINGTON, TX-Aloha Fan moves in Nov. 1 to a 60,812-sf building owned by ProLogis while Alamo Industries goes for 11,000 sf owned by Proterra Properties. For Aloha Fan, the long-term lease means a major expansion.
MESA AZ-Goodwill Industries secures its second high-profile location as a result of the Krause furniture store bankruptcy. The second-hand merchandiser gets an upscale address at $12 per sf. The 18,600-sf store will open in November.
SAN JOSE-Escrow has closed on the sale of the historic Montgomery Hotel here and Montgomery Hotel Group plans to break ground on the $25 million project early this week.
DENVER-Three strong conventions in Denver and the Grand Prix at the end of the month buoy August hotel occupancy and room rate results, notes the most recent Rocky Mountain Lodging Report.
DULLES, VA-Nordstrom opens at the 1.4 million-sf Dulles Town Center, becoming the shopping mall's fifth anchor store. The 144,000-sf fashion retail store occupies a two-story space in a newly built portion of the mall.