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DETROIT-Nearly 40 residents at a recent public hearing opposed the project, which would expand and consolidate three terminal areas in southwest Detroit and Dearborn to create an 840-acre facility.
PORTLAND-The office and industrial development awards go to Opus Northwest LLC and Insignia/ESG, respectively, while the top office and industrial transaction honors are given to Scott Fraser of Colliers International and Norris & Stevens partners Fred Normandin and Michael Dunn.
ORLANDO-Small buildings in good physical condition are also in demand by institutional buyers, George D. Livingston, founder/chairman, Realvest Partners Inc., tells GlobeSt.com. Pensions funds and insurance companies are scouting the state for new industrial acquisitions.
HIGHLAND PARK, MI-A Clean Michigan Initiative grant of $50,000 will help pay or cleanup work to restore the site to grade for new development, which is intended to lure other projects to the Detroit suburb.
PHOENIX-A restaurant and food service supplier takes 42,000 sf in Peoria while a glass company heads into 4,449 sf in Tempe. Both locations offer good freeway access for the incoming tenants.
SAN DIEGO-The $27 million project will consist of 150 residential units along with 20,000 sf of office and retail space. It is scheduled for completion by late spring 2003.
ATLANTA-The Mortgage Bankers Association plans to debut a 'smart' document within the next two months that will allow electronic property appraisals to be read by everyone.
TROY, MI-Kmart's decision to close 284 of its stores results in 63 attached Penske auto centers to follow suit. However, company officials say the company has made significant progress since a spin-off from Kmart.
TORONTO-Summit REIT acquires a portfolio of 110 light industrial/flex properties comprising more than 8.2 million sf across Canada. The seller was Aquest REIT. The deal raises Summit's total leasable space assets to 22.3 million sf.
WHITE PLAINS-Area commercial office property owners and brokers agree that Morgan Stanley's decision to buy the Chevron/Texaco property and the post-Sept. 11 trend towards decentralization will bring some New York City relocations to Westchester County later this year.