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NEW YORK CITY-New York Blood Center takes the freestanding building at 1200 Prospect Ave. in Westbury, NY to house new administrative offices, a laboratory and warehouse space. The 15-year, 55,000-sf deal is valued at $6.5 million.
DETROIT-Mayor Kwame Kilpatrick addresses the need for new permanent casinos in the Downtown area in his first State of the City speech, but points out the cost and process of acquiring land has been much greater in dollars and time than previously expected.
ORINDA, CA-Kensington Investment Group announces dividends for two of its funds -- Strategic Realty Fund and Select Income Fund -- and lists the funds current top 10 holdings.
LOS ANGELES-The former American Produce Building, located at 2160 E. 7th St. was built in 1986 and features approximately 30,000 sf of cooler space. The buyer, Davalan Produce is currently located in several buildings throughout the Downtown area.
DALLAS-The Staubach Co. in Dallas gets a lucrative contract to hawk 650,000 sf that's not living up to expectations. Ohio leads the pack with four stores ticketed for shutdown. Inquiries are rolling in, but no hard negotiations have begun.
NEWBURGH-New York Governor George Pataki reports that the state has revised the boundaries of the Newburgh/Stewart Empire Zone in order to facilitate additional projects that will foster approximately $65 million in spending in Orange County.
BEVERLY HILLS, CA-Kennedy-Wilson, the international real estate services and fund management firm, has appointed Ethan Penner, widely recognized as having revolutionized modern-day real estate finance, as its president. Together with Kennedy-Wilson's Chairman and CEO Bill McMorrow, he will be responsible for developing and directing the company's various businesses.
WASHINGTON, DC-As part of its multi-million dollar advertising campaign, the National Association of Realtors begins airing radio advertisements today in an effort to gain more support for legislation that will prevent banking conglomerates from entering the real estate brokerage and property management markets.
ATLANTA-Stacey Corso, editor of Real Estate New York, a monthly Real Estate Media Inc. publication, will handle all aspects of commercial real estate in Atlanta's eight-county market, along with breaking major industry news in other Southeast areas. Corso may be reached at 212-929-6900 or [email protected].