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SEATTLE, WA-A report released this week by one major brokerage firm paints a picture of continued difficulty in the Puget Sound office market until possibly 2003 when job growth might bring back demand for office space.
LONDON-Freeport has been granted planning permission to more than double the size of its successful Freeport Village outlet mall in Fleetwood Lancashire. And at the same time it has completed the purchase of the 240,000-sf Excalibur scheme on the Czech/Austrian border.
MIAMI-Resort and multifamily developers Howard Bloom and Kenneth E. Richardson plan to break ground on a $20 million, 125-unit retirement community in Delray Beach, FL this fall and have opened a $15 million,166-unit retirement complex in Las Vegas.
SAN ANTONIO-The two high-profile grocers are huddled in talks for 20 San Antonio stores shuttered in Albertsons' exit from the market. San Antonio is the only major market in Texas that doesn't have a Safeway presence.
PORTLAND-In his just-released biannual market report, local hotel specialist Ed Dundon presents evidence that the market will start to turn up during the final three months of the year and 2003 will bring up to 3% RevPar growth.
ONTARIO, CA-OrePac Building Products, a Wilsonville, OR-based wholesale building material distributor, relocated from nearby Chino to expand and consolidate its regional distribution center.
ATLANTIC CITY, NJ-The old Million Dollar Pier, rebuilt almost 20 years ago to resemble an ocean liner, will be shuttered entirely for 18 months by owner Park Place.
PHOENIX-A Phoenix investor relinquishes the deed to the Islands Apartments in Phoenix's north submarket to two private investors. The 10-unit complex at 4538 N. 8th Place was built in 1983.
AUSTIN-Praedium Group isn't exiting the San Antonio market. Yes, 14 buildings were sold, but Praedium held onto a few. Those that did go went because they had reached stabilization and maturity, says Kennedy Wilson's managing director.
ATLANTA-Masterfoods USA of Cleveland, TN, a division of Hackettstown, NJ-based Mars Inc., is adding a new line, Cookies And, to its brand of chocolates. No major building construction was involved in the expansion of the Tennessee plant.