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OAKLEY, CA-The City of Oakley, one of California's newest cities, has hired a consultant to plan the design and development of its Downtown area, and hopes to have a plan by early next year.
PHOENIX-Sundrella Casual Furniture acquires an aluminum casting supplier in a plan to add to its inventory and boost take-home pays for both operations. The sale nets a 10,000-sf building and about one acre in the central submarket.
CALIFORNIA, PA-The Pennsylvania Department of Environmental Protection breaks ground on a "green" office building in Washington County. The $2-million building will be the state's district mining office and the DEP's third to employ green building and design techniques.
NEW YORK CITY-Started in 1997 with $183 million in seed money borrowed from Reckson Associates, the venture capital firm files for bankruptcy with $234 million in unpaid debts, leaving the fate of the Reckson loan in doubt.
BLUE BELL, PA-An area architectural firm leases 19,000 sf in a 48-000-sf renovated office building in this suburb of Philadelphia. With three other real estate industry tenants, occupancy rises above 50%. Rental rate is estimated at $23 per sf.
DENVER-Denver County Undersheriff Fred Oliva spends an hour telling Mayor Wellington Webb the site at 400 W. Colfax Ave. is his top choice for a new lockup, which would replace a facility that is overcrowded.
SAN DIEGO-Sweeping changes to construction-defect legislation are scheduled to take effect July 1, and one real estate attorney warns they may hold hidden perils for developers of condominiums and townhouses.
OCEANSIDE, CA-A San Diego developer will press forward to plans to build a 400-room beachfront hotel, despite a defeat before the California Coastal Commission this week.
DALLAS-Attorney Joe Geary challenges a 10-minute gap in a legal posting and the start of a meeting that resulted in Palladium's $43-million incentive package for its $600-million Victory project. Geary's clients want new votes by the TIF board and council.
FRAMINGHAM, MA-Netezza Corporation relocates and expands its corporate headquarter to 200 Crossing Blvd. The high tech company, which develops business intelligence applications, doubled its office space as it anticipates significant growth by the end of the year.