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DALLAS-After a year of sitting on the market, the building secures a buyer willing to do the asbestos remediation. Subsequent talks pushed the selling price far below the $700,000 price tag.
SPOKANE, WA-After hearing of the Boeing Co.'s plans to sell its 308,000-sf manufacturing plant, employees formed an Employee Stock Ownership Plan committee to bid on the plant. Boeing, however, has sent a letter saying it is not interested in doing business with them.
SAN DIEGO-Although financing has been difficult to secure for larger resort-style hotel projects, the mid-level extended-stay market has remained strong, catering to the business traveler and budget tourism market, according to the Spartanville, N.C.-based company.
AUSTIN-Gardere Wynne Sewell, headquartered in Dallas, lines up 7,837 sf at the class A CBD high-rise. The law firm's office choice is in the tallest tower of the three-tiered building, now 84% occupied.
HILLSIDE, NJ-The J.G. Petrucci Co. bought the asset, located in the Newark Airport/Port Newark submarket, adding to its existing portfolio of some two million sf of industrial and office space.
PHILADELPHIA-Letters from Philadelphia Mayor John Street are going to companies as substantial amounts of center city office space comes up for lease renewal. Designed to stem negative job growth, the Office Retention Program is applauded by office building owners.
NEW YORK CITY-Holliday Fenoglio Fowler arranged the construction loan for the grocery-anchored retail center. Funds will be used to expand an existing Waldbaum's supermarket at the Deer Park, NY facility.
CYPRESS, CA-WOHL plans a "major renovation" of the building, which was built in 1981. The property has additional potential to grow in value, he says, because it is only 75% leased and demand for industrial space is picking up in Cypress.
PORTLAND-The Portland-Vancouver apartment market is "poised for growth upon economic recovery," according to a mid-year report by Marcus & Millichap. Only 900 units were delivered over the previous 12 months and only a few hundred more than that are scheduled for delivery over the next 12 months, according to the report.