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EAST GRAND FORKS, MN-The 65-unit publicly-owned multifamily rental building for senior citizens had to be rebuilt after flooding in 1997. A 2001 program provided relief to cities affected by the floods.
NEW YORK CITY-The partnership's portfolio approaches three million sf with the acquisition of three Canadian shopping Centers. New York-based Kimco and Toronto's RioCan spent $133M on the latest additions.
LANSING, MI-A Stanford Research Institute study compares Michigan with other states in building new businesses and jobs. The state gets high marks quality of life, globalization and business vitality and innovation resources, but high business costs are a negative.
SAN ANTONIO-Vacancy has climbed, but there's optimism on the horizon with the increased activity of late, says REOC Partners. Overall, the market is now 20.4% vacant due in part to 219,000 sf coming to market in Q1.
PONTIAC, MI-One of richest counties in the US records higher gains again, which Oakland County Executive L. Brooks Patterson says is encouraging in the face of the national economic downturn.
ROCHESTER, NY-Despite a weak economy, apartment owner and operator Home Properties reports it recorded a 23.5% increase in earnings during the first quarter of this year.
DENVER-Some real estate veterans have seen worse, such as the late 1980s when activity dropped to zero in some months. However, multifamily rental building permit activity falls 91% in February compared to the same month in 2001.
SAN ANTONIO-Clarke American Checks cuts a 10-year deal for more space at 5800 Northwest Parkway, where it operates a call center in a 68,000-sf building. The financial services provider says another 200 jobs will come on line by year's end.
OAKLAND, CA-The city of Oakland is turning a former manufacturing plant into a housing development, after the owners abandoned the property two years ago.
OAK BROOK, IL-The Pennsylvania Department of Insurance is poring over financial records of Legion Insurance Co., which rents 58,000 sf at Milwaukee Center, the largest asset in Great Lakes REIT's 5.5-million-sf portfolio.