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PHILADELPHIA-Under three different programs, the US Department of Housing and Urban Development grants $2.955 million to Wilkes-Barre, PA for homeless shelters, libraries, vocational rehab centers and office tenant recruitment efforts.
ONTARIO, CA-The firm's Frigidaire division outgrows another Ontario location of 150,000 sf and moves into larger facility for distributing refrigerators to retail outlets. The warehouse was built in 1987 and is owned by ProLogis.
NEWARK-The Gale Co. and TishmanSpeyer, which combined to buy three of the four downtown Gateway Center office buildings for $160 million in 1999, are expected to reap more than $200 million from the sale of all three.
HOUSTON-With more than 6 million sf of space coming online in the CBD over the next 18 months, many are wondering if there will be takers for the space or if building owners will need to begin looking at rate drops.
DETROIT-An August opening will bring stores, including a Barnes & Noble, university offices and parking in a $25-million development that will serve as a gateway to the Wayne State University campus.
DENVER-Rather than locating one specific space, major corporations will look to industrial providers such as ProLogis to solve their nationwide warehouse needs, explains John Seiple, president and CEO of North America for the world's largest REIT.
CHICAGO-After striking out in bidding for several Downtown and suburban office assets, Transwestern Investment Company is the top bidder at less than $85 million for the 29-story office building, one of three properties Teachers Insurance Annuity Association has shed recently.
DENVER-There is no positive absorption with tenants swapping square footage in a quest to cash in on falling rental rates, according to a Market Snapshot by the Meyers Group. In addition to oversupply, the lack of affordable housing is hurting the market's chances of attracting companies looking to relocate.
ANN ARBOR, MI-A $5.8-million plan is in the works to add 34,000 sf to the 67-year-old building for more state of Michigan and university archival records.