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AUSTIN-The latest Hendricks & Partners multifamily report says 75% of all Austin-area properties are offering concessions, including 95% of the class A lineup. Sales are down, absorption is down and construction...well, it's rising.
LONDON-In a rare open-market sale of a food store investment, the Corporation of London has sold its long leasehold interest in a Sainsbury's store at Bramingham Park, Luton for Pounds 22.85 million ($33 million).
ORANGE COUNTY, CA-According to a recent report released by real estate research firm PPR, the Southland's construction pipeline has remained fairly steady over the past two years, while Northern California has experienced drastic shifts in new construction.
PORTLAND-SKB paid $20.76 million for residential and retail development at 23rd and Northwest Burnside, which includes the 72,000 sf shopping center, 47 apartment units and a "potentially developable pad" of about 55,000 sf. The acquisition--its first in Portland--closed late last week.
PONTIAC, MI-The mixed-use residential and industrial project is the largest in this struggling city. Being built on a former mental health center site, it will return 213 acres to the tax rolls after 100 years.
SYLMAR, CA-Marfred Industries of Sun Valley, Calif. has purchased a 98,000 sf facility next door to its manufacturing plant here. The privately held box maker now operates in over 450,000 sf of industrial space.
DALLAS-The Cirrus Group is fine-tuning the plan for its third medical office building in less than a year in an upper middle-income Dallas-Fort Worth community. The Trophy Club project will eventually include a short-stay hospital and assisted living facility.
SACRAMENTO-While the Sacramento Housing and Redevelopment Agency proposes a redevelopment plan that it believes will improve the Fulton Avenue area, residents do not want the aging commercial area to be labeled as "blighted.
LONDON- Morley Fund Management has paid Pillar Property and the Hercules Unit Trust Pounds 185 million ($270 million) for a portfolio of 11 retail parks across the UK.
DALLAS-Henry S. Miller Commercial hires architect Davis H. Glass as its construction services manager. McCarthy promotes a 25-year employee to vice president of operations for Texas and JPI names regional assistant VP from within.