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LONDON-London has a vital business need for tall buildings according to new research undertaken by the British Council for Offices. Research among economists and occupiers both found in favour of building higher.
VERNON, CA-The manufacturer of plastic products for hazardous fluids and molded wheels for garbage acquires the tilt-up concrete building for approximately $2.8 million.
ATLANTA-A 348-unit apartment project has been raised by locally based Regent Partners. The $25-million Brookstone development aims to satisfy the growing need for upscale rental units in Rock Hill, SC, a Charlotte suburb.
DENVER-The submarket was buried with a 60% office vacancy rate just a few months ago, but that has eased by 10 percentage points with additional evidence of improvement in lease deals.
CHICAGO-Featherfist, Inc. will construct an 11,000-sf office building at 2301 E. 75th St. in the South Shore community after buying a 32,100-sf site from the city for $100,000. A previous owner defaulted on property taxes.
DENVER-The county wants $5 million in state lottery money to buy up the development rights to 150 square miles of land east of Denver International Airport, keeping it off limits to developers.
SAN DIEGO-An 11,000-sf building at 540 Laurel St. has sold for $1.7 million, giving a developer the assemblage it needs to develop the Park Laurel on the Prado, a luxury apartment tower.
VANCOUVER, WA-Al Angelo Co. again selects Portland-based Norris Beggs & Simpson to be its leasing agent, this time to fill out its Heritage Place project, a 200,000-sf residential-over-retail development in Downtown Vancouver with about 15,000 sf of ground-floor retail space.
ISSAQUAH, WA-Other real estate sectors may be struggling with pre-leasing and vacancy rates, but Eric Rovner says retirement centers are faring better. Scheduled to open next fall, University House at Issaquah already has deposits on nearly three-quarters of its units.
WASHINGTON, DC-The 136,000-sf building at 1100 15th St. has changed ownership from the Monument Fund to a group of private investors in a $20-million deal. Pharmaceutical Research and Manufacturers' Association and offices of the Washington Post occupy 70 % of the 97%-leased structure.