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SPOKANE, WA-Earlier this week, city officials amended rules that restrict where adult retail and entertainment facilities can be located. The new ordinance will permit the establishments to be housed in light industrial zones.
AUSTIN-Wichita, KS-based Fox and Hound Smokehouse and Tavern searched for awhile, but finally settled on the warehouse entertainment district for its first location in Austin. The upscale tavern operator could open doors by August's end.
CHICAGO-American Invsco recoups more than half of its purchase price for 345 N. LaSalle St. within its first week of ownership. The company has sold more than half of the condominiums, which were built as rental units.
SUGAR LAND, TX-Atlanta's Regent Partners is co-developer and mezzanine lender for the 300-room hotel and conference center. Additional equity comes from Stormont Hospitality and Crestline Capital as well as the City of Sugar Land.
PORTLAND, OR-The Portland outpost of Zions Small Business Finance, a Division of California Bank & Trust, has gained the Small Business Administration's "Preferred Lender" status, which means faster loan approvals on real estate purchases, among other things.
HOUSTON-Dr. Barton Smith, the region's favorite forecaster, says exercise caution in interpreting reports about how bad 2001 was and how good 2002 could end up. His analysis says it will be 2003 before it gets much brighter.
PHOENIX-A Phoenix couple sells its second multifamily holding this year in another 1031 exchange. The 94%-occupied Sun Ray apartments, built in 1984, goes to a private investor from Phoenix.
DENVER-Bruce Berger needs a fourth extension on his plan to build a Hyatt Regency on his site at 14th and California streets, across from the Colorado Convention Center. He has run into additional competition and difficulty obtaining financing.
DENVER-The 15-story, 108,000-sf building, which the city bought for $15 million last year, is scheduled for demolition April 7. Until then, the building is used to train firefighters on battling high-rises blazes.
IRWINDALE, CA-NDC Infrared Engineering, a Spectris Co., has renewed its 47,871-sf lease at 5314 North Irwindale Ave. here. The building owner reportedly came down 25% from its original lease rate proposal in order to seal the deal.