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LONDON-Mountgrange Investments, the new vehicle for property high-flyers Martin Myers and Manish Chande, has made its first purchase in the form of the St Mark's Shopping Park, Lincoln.
GILBERT, AZ-Within months of marking one year at the site, Catalytica Energy Systems takes the deed to a 43,425-sf build-to-suit by Hewson Development. The seller is a joint venture between Hewson and Guardian Life Insurance Co. of America.
AUSTIN-The latest research by Staubach shows overall vacancy is 22.84%, up from 16.6% just three months ago. And the market has not finished leveling off, says the firm's research director. Rent is down 54 cents per sf.
LOS ANGELES, CA-The sale is the largest office property sale in the Inland Empire for the past two years, according to the brpokerage firm that handled the transaction.
CAMBRIDGE, MA-Harvard University's proposal to develop a tunnel underground to connect two buildings it is planning to build is being met with opposition from local residents. The university is working on a construction mitigation plan.
CHICAGO-Separate multifamily developers find room for 38 townhouses and 29 condominiums in the Lakeview and West Rogers Park, where vacant land is nearly impossible to find. An 8.2-acre People's Gas Co. needed environmental remediation.
PORTLAND-After expanding and redesigning the project last year into a 10-story mixed-use project, Vancouver, WA-based C.E. John is back to the five-story building it originally planned on land it owns at Northwest 10th Avenue and Hoyt Street, only this time it's all apartments and being developed in partnership with Trammell Crow Residential.
DALLAS-Some are renewals, some are expansions and others, just plain new deals. The "bread and butter" leases reflect some measure of activity in a suburban market bearing a 20% vacancy overall and now ranked second highest in the US metro lineup.
NEW YORK CITY-For the second time in two weeks, Arthur Andersen has lost a major hotel client. The latest defector is lodging REIT Boykin Lodging Co., following quickly on the heels of Starwood Hotels & Resorts.
NEW YORK CITY-The PA puts out a call for design guidelines for Lower Manhattan while officially taking the reins of the Lower Manhattan Development Corp., the organization originally formed to oversee the Downtown redevelopment process.