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STEAMBOAT SPRINGS, CO-American Skiing seeks a limit its payout to the Vermont investment group led by Tim and Diane Mueller to a $500,000 break-up fee. The suit followed the last-minute collapse of a $91.4-purchase.
AUSTIN-The stability of real estate values doesn't mean there aren't any concerns about the marketplace. Austin's chief appraiser recognizes the problem areas, but says it's still a better scenario than the downturns of yesteryear.
LONDON-The industrial sector is the best-performing element of the UK property market, according to Insignia Richard Ellis, and with the exception of the south east of England, where the market is oversupplied, the industrial market looks set to remain healthy.
PORTLAND-Wyse Investments buys a 30,000-sf building in the Cornell Business Park; Kleinfelder, an engineering design firm, renews and expands its lease to 12,680 sf at Woodside Corporate Park, and; Communications Product Development leases 14,400 sf at Columbia Tech Center in Vancouver, Wash.
PHOENIX-A two-building spec warehouse project attracts the credit-worthy Ford to its midst. In September, Ford will setup a parts distribution center in 165,699 sf of a 323,000-sf warehouse along South 47th Street in Phoenix.
AUSTIN-Smartech Computer Services signs a sub-sublease deal for 5,678 sf vacated by Norwood Promotional Products. Smartech goes from the southeast submarket to newer product in Austin's southwest sector.
WASHINGTON, DC-The National Association of Realtors is requesting that the banking industry relinquish its pursuit to enter the real estate market. Congress and many citizens have expressed their dislike of the notion, and the US Treasury has delayed decision on the matter until 2003.
DALLAS-The Dallas-Fort Worth industrial market will outshine its metro counterparts, says Grubb & Ellis in its hot-off-the-press Q1 analysis. Three of nine submarkets absorb 500,000-plus sf. Clearly, new expansion has begun.