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DETROIT-The LacVieux Desert Band of Lake Superior Indians has sued the city over its choice of MGM Grand, Greektown and MotorCity to operate casinos there. However, a city official says the suit shouldn't scuttle a deal dropping a requirement to build permanent casinos along the riverfront.
SADDLE BROOK, NJ-Transwestern takes the 464,000-sf prize as the seller moves out of North Jersey to focus on its portfolio in the central and southern parts of the state.
NEW YORK CITY-While Midtown and Downtown experienced a slump in asking rents last month, the Midtown South office market has perhaps finally begun to gel, according a newly issued Newmark report. However, Steve Schofel says that while the area may be the first to stabilize following Sept. 11, Midtown will be the less volatile area in the long run.
SAN DIEGO-Biosite Inc. is buying land from H. G. Fenton Company in Fenton Technology Park in the Miramar area of San Diego for a new corporate headquarters. Construction will occur in phases, with an initial build-out of 200,000 sf.
DALLAS-Suburban markets attract a two-acre land sale for a day-care center and a 24,302-sf shopping center acquisition. The trio of recent deals also brings a fifth location for a distributor of commercial plumbing supplies.
ORANGE, CA-The Orange-based provider of title insurance services expands in San Diego County, with the establishment of a fourth escrow branch here. The company currently has 93 branch offices in Arizona, California, Nevada and New York.
LAKE FOREST, CA-A REIT pays nearly $17 million for the recently constructed 100,000-sf, two-building office complex. The property is net leased to Apria Healthcare Group Inc. through January 2012 at a current annual net rent of $1.56 million, which increases by 3% per annum.
ORLANDO-About 400 of the two hotel's total workforce of 2,000 are rejecting a new management contract that doesn't guarantee them a 40-hour work week. The 400 workers are members of Teamsters Local 385. The adjoining hotels, totaling 2,267 rooms, are jointly owned by New York-based Tishman Hotel & Realty Corp. and Metropolitan Life Insurance Co.
MILWAUKEE-While dips in occupancy rates and revenue per available room were not as bad as national averages, losses in Marcus Corp.'s lodging divisions are more than offset by revenue at the company's theaters.
AUSTIN-A local investor pulls $2 million in equity and places extra debt against his Austin complex in a $5.2-million refinancing, according to the Aries Capital loan originator. The refi carries a 10-year term and 7.15% interest rate.