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LAKE OSWEGO, OR-"We have been looking for additional property for quite sometime," says Mike Kalberer, Partner at Kalberer Company. "Lake Oswego Crossing piqued our interest because it's new, it was well constructed, and it has great potential.
RED BANK, NJ-The developer has announced the expansion of Depot America's headquarters space and a new lease by a county office at two separate Monmouth County locations.
DETROIT-Dollar spent on commercial real estate construction drop to $411 during June, following a 35% drop during all of 2001, reports the F.W. Dodge Division of the McGraw-Hill Cos.
CHICAGO-Who cares about double-digit multifamily rental vacancy rates when you can borrow construction money at less than the historically low prime rate and get a double-digit return on your equity? Not developers, but owners of existing multifamily properties are concerned.
ORLANDO-Michael Mulhall, Florida director for Hawthorne, NY-based GDC Properties Inc., tells GlobeSt.com he plans to develop and acquire apartment properties with an estimated aggregate value of $200 million over the next three years.
NORTH BRUNSWICK, NJ-HFF put the deal together for a locally-based ownership group. The facility is 80% leased to USA Metro and Achim Importing, while Toyota and Church & Dwight lease land within the site.
FORT WORTH-The single-asset purchase is the 446-unit Cameron Creek at 5209 Bryant Irvin Rd. in Fort Worth. It's near Lockheed Martin, which is adding 1,200 jobs to build fighter planes, and nestled in the city's fastest-growing retail corridor.
DENVER-Elke Heuer, trustee for Heuer Trust, pays $54,545 per unit for the Cherry Creek Abbey rental property at at 911 S. Dahlia St., which Colorado Springs-based Homburg Holdings Inc. picked up for $1.65 million.
HOUSTON-Buckhead Investment Partners and equity investor Jose Barragan ramp up for a start on the 348-unit Enclave on the Park. The project will rise on 19 acres along South Parkview Drive. Delivery is late 2003.
LOS ANGELES-Starpoint Properties acquires the apartments in three Mid-Wilshire buildings for an average of $27,178 per unit and plans renovations in a value-added play.