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HOUSTON-New owner Sterling American has slid in a new property manager and is fine-tuning renovation plans for the complex at 9301 Dairy View Lane in Houston. Repositioning is in order since rent averages just $542 per month.
CHICAGO-The second-largest mall owner and operator in the US sees funds from operations jump 8.7% in the first quarter, with the strength of specialty retail chains getting a share of the credit.
JERSEY CITY, NJ-Trammell Crow has the assignment for the sublease space, currently available on four floors at the Hartz Mountain property, located on the former Colgate site.
MIAMI-Boston-based Metropolitan Properties of America bought the 27-story, 272-unit apartment development for client MPA Brickell Key LLC in December 2001 for $61.6 million cash or $226,471 per unit.
WALTHAM, MA-Workplace IQ partners with Aperture Technologies Inc. to develop a workplace IQ-hosted ASP version of Aperture's Business Infrastructure Management solutions for the real estate industry. The product will allow users access to an integrated suite of products that can run on the same platform.
WASHINGTON, DC-A recent Marcus & Millichap research report finds the District's office market continues to lead most other metropolitan office markets in resisting the national economic downturn, in part due to a diverse industry base and federal projects in the area.
LANCASTER, CA-Burnham Pacific Properties Inc. closes on the sale of its 29,000-sf interest in West Lancaster Plaza-Phase III, a 160,000-sf shopping center. The Company sold its interest to Safah Capital LLC.
CEDAR RAPIDS, IA-The Alliant Energy subsidiary looked at other developers before picking itself to build the 500-megawatt facility, part of a $1-billion expansion plan. A site and financing are still to be set.
LONDON-Net investment in property by UK institutions during the first quarter of 2002 was more than in the whole of 2001, according to new analysis by brokers Gerald Eve.
NEW YORK CITY-Steven A. Swerdlow, a 12-year CBRE veteran, is promoted from Eastern Division head. His new position includes responsibility for all business units within the Corporate Services Group worldwide.