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KENT, WA-Starbucks leases 215,000 sf at the Springbrook 188 Distribution Center for an undisclosed sum. Some in the industry are hailing the transaction as the most significant industrial lease in the south Puget Sound area in the last 18 months.
DETROIT-Wayne State University's pharmacy school finds new digs and puts Shapero Hall on the market for $6.4 million. The university is awaiting an environmental study, a prerequisite for the sale.
ORLANDO-Chicago-based LaSalle Bank NA foreclosed on the 919-room property after co-owners Crico of Orlando Inc. based in Bethesda, MD and Orlando Hyatt Hotel Associates missed a November 2001 mortgage payment. The hotel owes the bank $29.5 million. The property is two miles from the front gate of Walt Disney World.
HAYWARD, CA-Applied Photon Technology has leased new headquarters. The company signed a five-year lease valued at $274,000 for 8,100 sf at Gateway Industrial Park.
CHICAGO-Gary Burk and Denny Oklak, who have a combined 38 years with Indianapolis-based Duke Realty Corp., are co-chief operating officers in charge of the leasing, property management, maintenance, construction, and acquisition/disposition functions.
DALLAS-Local powerbroker Bob Mohr secures a premier contract to wheel and deal on 10 million sf of leased and owned real estate of Orlando, FL-based Hughes Supply. The corporate giant's outsourcing decision could bring consolidation and disposition.
DENVER-Opponents say a measure provides too much of a subsidy to developers who would set aside units selling between $100,000 and $200,000. Developers of projects with at least 30 units would be required to make at least 10% of them affordable to workers earning 80% of the median income.
SAN FRANCISCO-According to M/PF Research, San Francisco is the leader in a recent California trend in which renewed emphasis on housing is taking a hold in urban neighborhoods.
MIAMI-Real estate properties make up some of the collateral behind the loans. The sealed bid auction deadline is May 7. The Office of the Comptroller of the Currency closed the bank Jan. 11. The bank had $130 million in potentially uninsured deposits held in 3,600 accounts.
WORCESTER, MA-Two development proposals come before the city's planning board but both face opposition from local residents. One project is an 84-unit cluster housing development while the other is a 104-unit over-55 continuing care retirement community.