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DALLAS-Short hold multifamily properties bring tidy profits for sellers in Irving, Hurst and Mesquite. Three similar deals are pending. One broker says more West Coast buyers are coming this way as values there "peak out.
HOUSTON-Rental revenue is up 28% over Q1 2001's results. The spike, says the REIT, is from 258 new leases and renewals, totaling one million sf. But, the Houston-based Weingarten also has new projects and buys to thank for the strong showing.
CAMBRIDGE, MA-Newly released first-quarter statistics indicate the local commercial real estate market is split between a thriving biotech sector with extremely low vacancies and a lagging office market struggling to fill space.
LOS ANGELES-In an all cash transaction, Lucia Properties LLC sells the 4,200-sf Vernon Plaza to the Shin Family Trust, which is completing a 10-31 Exchange. The capitalization rate on the purchase is 7.49%.
SAN DIEGO-An audit conducted by the state at the behest of a local lawmaker has found that the San Diego Unified Port District has undercharged rents to tenants on San Diego Bay.
AUSTIN-The Austin-based natural foods grocer opens a 40,000-sf store in Toronto's mixed-use Yorkville neighborhood. The opening makes 132 in the Whole Foods network and comes a week after its expansion announcement in Austin.
HOUSTON-Brendan Lynch is accorded the William H. McCarthy Memorial Award from a field of 3,000 nominations in CB Richard Ellis' US ranks. Another Houston senior VP, W. Derrell Curry, is inducted into the Colbert Coldwell Circle.
DENVER-Opponents say forcing developers of larger projects to earmark 10% as affordable would make the entire project more expensive and do little for those needing such housing.
LOS ANGELES-The first major retail center built in South Los Angeles since the riots following the Rodney King decision in April 1992, Chesterfield Square is now 92% leased. NFL star Keyshawn Johnson is a partner in the development.
CHICAGO-Employment & Employer Services Inc. decides its 23,498 sf, an entire floor at Equity Office Properties' 200 W. Adams St., beats the alternatives in the marketplace while space if plentiful.