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NEW YORK CITY-The Boston developer is negotiating with an anchor tenant for a two-building expansion to its 50 Danbury Rd. office complex. The site is approved for development of up to 200,000 sf and Davis has applied for permission to up that total to 225,000 feet.
CHICAGO-The $355-million project at Adams and State streets has 530,000 sf available, and The Beitler Co.'s new senior vice president John F. Bucheleres is in charge of leasing it. The project is a joint venture between his new company and Prime Group Realty Trust.
OXNARD, CA-LTC Properties Inc., an owner of assisted living facilities, will buy back up to 1.5 million shares of its stock at $8.50 per share, or about 8% of the company's outstanding common stock.
DETROIT-The university's regents approve building a 345,000-sf cardiovascular center and 400-space parking deck to augment its already wide hospital research and patient care facilities. Construction is on the site of the "Old Main" hospital.
SEATTLE- Driven up by new online deliveries and steady job cuts, the Puget Sound area apartment market is experiencing its highest vacancy rates in several years, according to a recent report prepared by Hendricks & Partners. Economists warn recovery is not in the near future, but there is hope the multifamily market, along with the Northwest economy in general, bounces back by 2004.
GAINESVILLE, VA-Two multi-million dollar mixed-use developments get an enthusiastic approval from members of Prince William County's Planning Commission. The two developments, Village Place at Gainesville and the Virginia Gateway Addition, provide an aggregate 1.25 million sf of office and retail space, and 475 residential dwellings.
HINGHAM, MA-The Hingham Plaza could get a new look if Newton, MA-based developer, S.R. Weiner & Associates gets the permit he needs to overhaul the 300,000-sf retail strip into a 435,000-sf lifestyle center. The center is essentially an upscale, outdoor mall design.
DALLAS-Trademark Real Estate Development & Investments of Fort Worth is selling most of its retail portfolio. The plan is to harvest capital for more buys and a development pipeline. The investment climate is such that the package is predicted to bring top dollar.
PHILADELPHIA-Cincinnati-based based trustee L.J. Shapiro sells the 100,000-sf, 25-year-old shopping center in the northern Cincinnati suburb of Forest Park for $2.28 million to Mendos Inc., which plans a significant upgrade. Anchors are Family Dollar and NAPA Auto Parts.
ATLANTA-The Charlotte-based developer joins Cincinnati, OH-based Robert Rhein Interests in a 470-acre planned community that will include a 240-acre business park, 30-acre retail village, 40-acre multifamily complex and up to 700 Rhein-built single-family homes adjacent the 2,000-acre Ballantyne development.