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CHICAGO-The flight of tenants out of high-rise, high-profile Central Business District office towers hasn't been seen at Sears Tower, which TrizecHahn Corp. is expected to own entirely in 2003.
POWAY, CA-The city will invest $2 million in a plan bring a Mossy Nissan dealership to the downtown auto mall. The council is contributing $900,000 toward of the project of the $1.1 million it received in a settlement from the company that failed to find a developer for a planned water park in the South Poway Business Park.
BOSTON-Massachusetts Port Authority's board votes to acquire most of a 22-acre parcel of coastal property here. The agency will purchase the site, which will function as a port and warehouse facility, from Brownfields Redevelopment Corp.
CHICAGO-The $80-million makeover of 175 W. Jackson Blvd. is the Greater Chicago Commercial Real Estate redevelopment of the year while its property rep, Intell Investment Management's Menahem Deitcher, takes home an award. UBS Tower is named development of the year.
MONTVILLE, NJ-The township buys both parcels, intending to preserve the smaller 2.2-acre site and to use the larger one for undetermined recreational uses.
SANTA ANA, CA-The Santa Ana-based real estate firm announces plans to renovate one of its shopping centers. The 306,400-sf property, known as Sierra Pavilions Center, is located in Clovis.
CLEARWATER, FL-An unidentified affiliate of San Antonio, TX-based Internacional Realty Inc. paid the Atlanta developer $70,175 per unit for the 11-year-old, 228-unit Post Court complex. Estimated replacement cost is at least $90 per sf, construction industry sources tell GlobeSt.com. Clearwater is 80 miles west of Downtown Orlando.
HOUSTON-A Yancey-Hausman leasing and property management team has been challenged to find tenants for the seven-story Cooper Cameron Building along the Northwest Freeway. The firm is in a good position since it owns 250,000 sf nearby.
EAST BRUNSWICK, NJ-Continental Properties has already started site preparations for the 184-unit luxury complex, which will be positioned as an adult community.
CANNES-The London Borough of Southwark is on the hunt for a development partner for its mixed-use urban quarter on the Surrey Docks peninsula. AMEC and London & Amsterdam are in the frame