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IRVING, TX-The 352,165-sf high-rise is taking a hard hit with Northrop Grumman's decision to uproot the headquarters of its Integrated Systems Sector. The move to California starts in August and will wrap up by year's end.
PARK CITY, UT-Olympus Real Estate Partners signs up Gemstone Resorts International for resort holdings in Vermont, Florida, New Mexico, Washington and California. The Utah firm also will be helping to grow the Rockresort brand.
STERLING, VA-Consolidated Electrical Distributions Inc. commits to a seven-year lease for 17,655 sf in Loudoun County's industrial/flex building, located at 45449 Severn Way. Rent at the 105,442-sf building, which is leased near full capacity, ranges from $10 to $15 per-sf.
ATLANTA-The six-story, 200,000-sf Downtown structure is being developed for $275 per sf by Atlanta Capital Courts Facilities LLC. Completion is scheduled for August 2003.
ONTARIO, CA-Evergreen Aviation Ground Logistics Enterprises (E.A.G.L.E), a ground handling services company recently awarded a contract to perform shared network terminal handling service for the U.S. Postal Service, has leased a new 168,000-sf building in Western Realco's Airport Mission Business Park adjacent to the international airport here.
ORANGE COUNTY, CA-The Bentonville, AR-based retail giant plans to open as many as 40 new stores in California over the next four to six years. The proposed Wal-Mart Supercenters will feature a full range of groceries, as well as general merchandise.
SAN FRANCISCO-The M.H. de Young Memorial Museum in Golden Gate Park is being demolished due to earthquake damage. A 292,000-sf, privately-funded museum scheduled to open in its place 2005.
DALLAS-Frontier Bank of New York City hires Chicago-based Sheldon Good & Co. to auction hotels in Elk City, Clinton and Weatherford, OK. A foreclosure catapults the trio onto the auction block. The franchises are Red Roof Inn, Econo Lodge and Travel Inn.
DALLAS-StrategyOne's challenge was to uncover what travelers think about the deals in the marketplace. The findings show 59% have encountered "bait and switch" tactics while 44% say the packages are poorly timed for travelers convenience.
NORTH ST. PAUL, MN-A Twin Cities syndicator buys the 94-unit complex from a Los Angeles tax credit syndicator for nearly $58,000 per unit. The deal is put together by Marcus & Millichap's Seattle area office, with help from a Milwaukee associate.