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PHOENIX-The movement has been ongoing in most metros for some time, but now Phoenix too is seeing tenants step up in class as building owners slash rates for prime space to fill the floors.
SCOTTSDALE, AZ-Construction is ramping up for the second phase to a retail and office complex. Frank Lloyd Wright designs that were never built--a 125-foot spire and 10,000-sf bank building--will rise as part of the project.
LONDON-The German investment Fund iii Fonds has paid pounds 46.25 million ($72 million) for the refurbished Sauchiehall shopping centre on Sauchiehall Street in Glasgow.
SANTA FE SPRINGS, CA-JM Oil Co., a distributor of automotive products, purchased a 16,998-sf industrial building for $1.2 million. The firm is relocating from nearby San Pedro. The seller was a private investor based in Beverly Hills.
ORLANDO-Leesburg, FL city manager Ron Stock negotiated the deal with representatives of Dr. Clayton Pruitt, the Clearwater, FL vascular surgeon who sought to build a total of 15,000 multi- and single-family units on his 3,334-acre ranch.
DALLAS-Crescent's John C. Goff goes to the heart of the underlying theme for NAIOP North Texas' second annual trends conference. The bottom line boils down to ability to weather change.
ATLANTA-After nearly a decade-long absence from this market, the Troy, MI-based company partners with Royalton Investments to buy the nine-story, 86%-leased, 125,603-sf building. Hayman may build condominiums on its rooftop parking deck.
BOSTON-Westbrook Partners LLC is purchasing 13 hotel properties from Wyndham International for $447 million. Wyndham, which terms the properties "non strategic assets," is in talks with the locally based real estate investment firm regarding the sale of additional assets.
SPOKANE, WA-While current data suggests improving trends, including a RevPAR gain at all company-owned hotels this month, the company remains cautious as the country faces a soft economy, potential conflict in Iraq and continued security alerts issued by the government.