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LONDON-Bulgaria has become the latest Eastern European country to see the arrival of a cross-border property investment market. An Austrian bank has bought Expo 2000, the main office park in the capital Sofia.
ATLANTA-Demand for new office space in Atlanta's metropolitan statistical area will lag until 2003, predicts Todd Jeska, research manager of the local office of Encino, CA-based Marcus & Millichap Real Estate Investment Brokerage Co.
ORLANDO-In Central Florida's biggest office deal of the year, Inland Real Estate Acquisitions Inc. of Oak Brook, IL paid an estimated $88 million for 440,000 sf of class A space in three of the four existing office buildings at the 109-acre Celebration Place Office Park in Celebration, FL, 20 miles south of Downtown Orlando.
AUSTIN-A high-profile task force has cast its ballot on Block 21, the CBD project area bought from Computer Sciences Corp. A dense, mixed-use project with ground-floor retail leads the suggested uses.
SUN VALLEY, CA-In an expansion of its operations here, Western Studio Service Inc. signs a 10-year lease for 180,000-sf of industrial space at 9175 San Fernando Rd. The building owner is Berendo Property.
DALLAS-Blackstone Partners deeds the 197,997-sf 5950 Sherry Lane to RREEF in what the inner circles say is at least a $38.4-million deal. More than a dozen institutional and foreign capital investors dueled for the fully leased trophy.
CHICAGO-Tax increment financing will provide developers of two separate projects with more than $6 million as they build more than 600 multifamily rental and condominium units on land where Chicago Housing Authority high-rises once stood.
SAN FRANCISCO-The Slanted Door restaurant plans to triple its size by leasing two vacant storefronts, but it is meeting resistance from Mission-are residents who want more retail options, not bigger ones.
BRAINTREE, MA-The CompUSA facility, a 25,500-sf building that is part of the CompUSA computer superstore chain, was sold for $6.25 million. The facility is located on Route 3 in the Braintree Marketplace, a 350,000-sf power center.
PEOTONE, IL-Heavy-hitting airport developers LCOR Holdings and HOCHTIEF are among those signing on with the newly-created South Suburban Airport Coalition, which hopes to bring a $400-million airport here in five years.