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WORCESTER, MA-As part of a continued effort to revitalize the 25-acre South Worcester Industrial Park, the city council creates an economic development zone on a 67,000-sf parcel of city-owned land. The designation allows the city to negotiate with developers.
HOUSTON-Ponca City, OK, with a population of 28,000, will lead a Conoco initiative to develop cleaner-burning fuel. The Houston-based energy giant will start construction in June on upgrades, mostly outdoor equipment, at its 1,000-acre campus.
WACO, TX-CBL & Associates slides in as the new owner of Richland Mall, paying $43.5 million. The REIT's other Texas malls are located in Beaumont, College Station, Del Rio and Uvalde. Lilac Properties of Waco is the seller of record.
CYPRESS, CA-E. Realty Fund pays $3.6 million for the Cypress property, which stands at 6101 Ball Rd. The three-building complex is currently 97% occupied.
DENVER-The local adult probation department pays $15 per sf under a 32-month year lease for the long-vacant former Union National Bank Building at 1313 Tremont Pl., nearly two years after a deal with a telecom company fell through.
CHICAGO-While Equity Residential Properties Trust lowers its 2002 acquisition target to $400 million, AMLI Residential Properties Trust believes its original $150-million goal could be doubled this year.
MONTEREY, CA-The U.S. Army will divide the former Fort Ord Army Base in Monterey County to California State University at Monterey Bay, the University of California Monterey Bay Education Center, the Fort Ord Reuse Authority, Monterey Salinas Transit and the American Youth Hostel.
AUSTIN-In the really good times, 13,500 sf wouldn't be such a big deal. In today's market, Vieo Inc.'s sublease just happens to stand as the largest deal to date this year. The firm takes over space from Commerce One in Research Park Plaza.
ORLANDO-The 28-year-old, 193,000-sf Drew-19 Shopping Center, owned by Clearwater, FL-based Brown 19 LLC, is at 100% occupancy after signing 30,000-sf, five-year leases with new anchors Marshalls and Babies R Us.
FRISCO, TX-Kamco Property Co. steps in as owner of the 96-unit Fox Haven Apartments in Frisco, one the state's hotspots. The acquisition comes with a 10-year hold and exit strategy, the Dallas-based buyer says.