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BINGHAM FARMS, MI-Properties include shopping centers and Kmarts in Michigan, Illinois, Kansas, Missouri and Wisconsin are being sold, foreshadowing the retail REIT's liquidation. Contracts are signed for 15 properties; another 17 deals are in negotiations.
LANSDALE, PA-Blue Bell, PA-based Capital Solutions buys a fully-leased 93,795-sf class-A office building at 212 Church Rd. from First Evergreen for $14.5 million. Nine years remain on the current tenant's lease, estimated at $21 per sf.
LONDON-Work has begun on site at the Pounds 84 million ($120 million) out-of-town Sprucefield scheme in Lisburn, Northern Ireland. Midlands-based developer Stannifer, in partnership with Snoddons Construction, has already pre-let the anchor units.
EVERETT, WA-Members of the City Council earmark more money for the Everett Special Regional Event Center, already under construction. They vote to make the facility bigger and add to its historic value.
PHILADELPHIA-Excavation begins on the new baseball-only venue. The 43,000-seat, natural-grass venue has been configured to give maximize views of the city skyline. First pitch will be thrown in 2004.
HOUSTON-Royal Window Coverings relocates its customer service and admin team from a 500,000-sf manufacturing site in Houston's northwest submarket. The division stays in the same submarket, but heads into a 19,221-sf traditional office.
FALLSINGTON, PA-Bristol, PA-based Griff & Associates, a specialty paper manufacturer, buys a building for $32.50 per sf. Meanwhile, Smith Mack begins construction of a 32,000-sf office building at the 149-acre Providence Corporate Center in Collegeville, PA.
FOLSOM, CA-Until recently, developers avoided condominium projects in Folsom and Roseville, due to the affordability of detached homes. However, with the recent increases in the market, condo projects are looking good to developers.
WASHINGTON, DC-The recently shuttered Columbia Hospital for Women will likely be reborn as an apartment property now that the 230,000-sf facility has been put on the market.
RICHARDSON, TX-The Telecom Corridor's big-ticket perks are reserved for well-heeled shoppers signing for the long term. Today's trend is to set the terms on a deal-by-deal basis. The perks, the space and the terms have brought out the lookers.