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HOUSTON-The suburban submarkets come to the rescue as CBD occupancy plummets 12.32 points in one quarter. The CBD dips to 85.08% whereas citywide occupancy is down just 0.24 of a point to 93.26%, the second highest level in eight years.
DEL MAR, CA-BRE Commercial/NAI has negotiated the sale of two lots at the San Diego Corporate Center in a deal valued at $10.5 million. Future plans for the property include the construction of two high-profile, class A office buildings totaling 160,000 sf.
OAKLAND, CA-The deepening project is expected to spark an estimated 8,000 jobs, $1.9 billion in increased annual business revenue and $55.5 million in increased local taxes each year.
HOUSTON-The suburban submarkets come to the rescue as CBD occupancy plummets 12.32 points in one quarter. The CBD dips to 85.08% whereas citywide occupancy is down just 0.24 of a point to 93.26%, the second highest level in eight years.
ALBUQUERQUE-Rent concessions are disappearing and investors appearing in Albuquerque, particularly in the multifamily sector. A 59-unit, class B plus complex brings $2.5 million from another out-of-state investment group.
HOUSTON-In all, 176 for-sale townhomes, 312 apartments and 85 patio homes will deliver on the balance of Sueba USA's land near its 314-acre single-family development. It's a mix of multiple designs for a broad spectrum of tenants and buyers.
BETHESDA, MD-The 16-year old, 270,000-sf Artery Plaza secures $49 million in financing here . Built in 1986, Artery Plaza is a class A office and retail property.
LONDON-Grantchester Holdings the specialist retail warehouse investor, has sold three smaller schemes in Scotland in order to concentrate on larger projects.
SAN FRANCISCO-The 276-unit Plaza East housing project was demolished six years ago because of decay and rodent problems. The housing complex was redeveloped as part of a federal program, Housing Opportunities for People Everywhere.