Commercial real estate special reports for powerful business research, trends, and extensive education and information on CRE markets, practices, industries and sectors
Become a GlobeSt influencer! Learn about our latest recognition opportunities highlighting the individuals, firms and teams changing the commercial real estate landscape.
NEW YORK CITY-King St. Residential Corp. sells the 23-unit C-Corp.-structured building to Sleepy Hudson LLC, which will retain the current rent-regulated/free-market leasing structure of the building. The turn-of-the-century complex was renovated five years ago.
PHOENIX-The national firm doubles its size, taking 4,127 sf in a long-term lease valued at $242,000. The deal adds the space that's needed to keep Brinks as a tenant at 4914 E. McDowell Rd. The park overall is 95% occupied.
MIAMI-Total sales of $57.2 million at the 38-year-old, locally based company's 61 restaurants compared with $50.9 million in first quarter 2002. The company's first quarter 2003 ended July 21. Gross profit margins were 75.3% versus 73.8% a year ago.
PHILADELPHIA-Following an attempt to dissuade Hershey Trust from selling its shares of Hershey Foods, Attorney General Ron Fisher asks a state court to issue a restraining order delaying the sale. Meanwhile, reports of an $11.5-billion Nestle bid circulate widely.
LOS ANGELES, CA-Despite the high cost of doing business, hard-to-secure financing and a down market, Los Angeles County leads the state in planned new hotel rooms and is second in the state in new hotels under construction.
PHOENIX-A local limited liability company has bought 40,794 sf at 3935 W. Adams Ave. to team its ladder and scaffolding operations. The selling price is less than the replacement cost if the land's factored into the equation, says one of the brokers.
MILWAUKEE-Weak economic conditions are fierce competition from the single-family market fail to sink the multifamily market, which still holds strong interest from investors competing for a limited number of properties.
CHANDLER, AZ-The Fort Worth-based firm says the 150,000-sf Chandler center will be the largest in its network. Bids are now being evaluated, but the project most likely will cost upward of $20 million.
PHILADELPHIA-Locally based Berwind Property Group begins two buildings in the 340-acre center in Collegeville, PA, 100% pre-leased to Madison, NJ-based Wyeth Pharmaceuticals. BPG plans an additional 275,000-sf of class-A office space in the center as 32,000-sf One Providence reaches completion.
DALLAS-The Atlanta-based hotelier pays more than $5 million for the 112-room Dallas North Hawthorn Suites at 18470 N. Dallas Parkway. The 10-year-old chain is expanding through acquisitions instead of building, as it has done in the past.