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PORTLAND-ScanlanKemperBard principal Robert Scanlan tells GlobeSt.com the purchase price, "in excess of $20 million," includes the 72,000-sf shopping center, 47-apartment units and a "potentially developable pad" of about 55,000 sf. The acquisition is scheduled to close in June.
LAKE ELMO, MN-The project is the first in United Properties' 120-acre business park, the first in this town. Bremer Financial Corp.'s ownership plans to sell its 30,000-sf service center building in West St. Paul.
DENVER-Developers Jeff Selby and Michael Brenneman find a way to work around the difficulty obtaining financing for hotel projects in the wake of Sept. 11--build a 100-room hotel as a condominium form of ownership.
NEWPORT BEACH, CA-The Newport Beach-based company is awarded the construction contract for a 240,000-sf expansion project at Providence Saint Joseph Medical Center in Burbank, CA. The addition will consist of a seven-story tower that will add 153 new beds to the hospital.
DETROIT-David Schreiber earns Michigan Economic Developer of the Year honors for his work in bringing new development projects to Oakland County. He is supervisor of Oakland County's Economic Development Team.
SPOKANE, WA-Stephen Barbieri of WestCoast Hospitality Corp. says the acquisition of the Red Lion chain made 2001 a landmark year for the company. Looking forward, he anticipates 10% to 20% growth in 2002.
NEW YORK CITY-Bear Stearns chairman Jimmy Cayne was joined by Governor George Pataki, US Senator Charles Schumer and 800 employees last night to light the crown atop the financial services firm's new Madison Avenue headquarters.
NEW YORK CITY-The parent company of bookstore mega-chain Borders sells a major office/industrial facility in a leaseback deal with Los Angeles-based BentleyForbes. The 15-acre property sold for roughly $7 million.
TROY, MI-Voters reject a plan to raise property taxes to buy wetland property for about $2.4 million to save it from development. Some city council members say it should now be up to neighbors themselves to buy up wetlands.
SAN BERNARDINO, CA-The 96-unit complex stands at 222 E. 17th St. in San Bernardino. It was 90% occupied at the time of sale, yet another sign that San Bernardino apartment product continues to attract a large pool of tenants.