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SEATTLE, WA-With lenders looking for significant preleasing before cutting construction checks and tenants looking at bargain rates in existing industrial buildings throughout Puget Sound, developers are planning but not breaking ground on new projects.
CHICAGO-Cohen Financial's capital markets unit arranges the financing for a 24,640-sf parking garage at 437 N. Orleans St. here as well as a 480,678-sf distribution facility in west suburban Aurora.
SAN FRANCISCO-During the dot-com era, strictly open-plan layouts were the norm and were good choices to create space efficiency. Businesses now say the layouts, while economically sound, are less practical for running a business.
ROCKLIN, CA-Legal and investment difficulties cause Eureka Development Company to toss plans for developing a vacant 156-acre property into a business park in Rocklin. Meanwhile, in Cotati, developers have postponed the construction of South Sonoma Business Park.
SEATTLE, WA-With lenders looking for significant preleasing before cutting construction checks and tenants looking at bargain rates in existing industrial buildings throughout Puget Sound, developers are planning but not breaking ground on new projects.
PHOENIX-The new deals take the 76,528-sf office building to the halfway mark. Woodside Homes, Change of Heart and the Elk Corp. take a combined 14,137 sf. One tenant is unpacking while the other two plan move-ins before June 1.
LOS ANGELES-Royal Airport Center is located at 5933 West Century Blvd. in Los Angeles. The property was 94% leased at the time of sale. The site has a total of 23 tenants. The office building was built in 1982 and has 12 stories.
DETROIT-Multifamily rental and condominium building soared 25% last year, while single-family construction dropped slightly. The 5,387 multifamily units in the region were exceeded only by the 1990 total.
AUSTIN-There are few, if any, surprises in a first quarter office report put out by Colliers International's Austin office. It's still tenant heaven. Overall vacancy is up to 21.8% and rent is down across the board.
ATLANTA-Collateral Mortgage Capital LLC of Birmingham, AL and Fannie Mae are providing property owner Ike Thrash permanent financing at 7.36% interest for 10 years on the 222-unit, 33-building Country Club Apartments in Tuscaloosa, AL.