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PORTLAND-Similar to 2001, the limited amount of new apartment supply entering Portland in 2002--about 1,200 units--will keep the market on track, despite significant job losses across the region.
CHICAGO-President and chief executive officer Douglas Crocker II, whose replacement could be named next month, sets a goal of $500 million in acquisitions this year, which would be 23% more than its 2001 purchases.
SAN DIEGO-The locally based retail REIT announces completion of the sale of three properties and one leasehold to a group led by affiliates of PO'B Montgomery & Company and Apollo Real Estate Advisors in a deal valued at $24.8 million.
PORTLAND-Family practice law firm Stahancyk, Gearing, Rackner & Kent pays $2.4 million for the three-story, 16,000-sf office building at Southwest 15th and Yamhill, which includes a 23-slip surface parking lot.
LOUISVILLE, CO-The technology company leaves Boulder for space further down US 36 in the new Parkway Technological Center, part of the Colorado Tech Center, putting a dent in the northwest corridor's vacancy rate.
DALLAS-Kennedy-Wilson International loses a senior managing director and director of project services. PM Realty Group gains two top executives to steer a hard focus on build-to-suits by a new development and acquisition team.
ATLANTA-Perimeter Center's 90%-leased, 27-year-old, 67,834-sf Park Place shopping center was sold by Chicago-based Equity Office Properties Trust, headed by Sam Zell, to Atlanta-based Sembler Co. for about $17 million.
DETROIT-It will be a slow return, says one office broker, but research shows submarkets are just waiting to start up again. One possible reason: property owners have become more aggressive.
JACKSONVILLE, FL-The city with the largest land area in Florida (759 square miles) and home of the largest privately owned commercial real estate firm in the state (St. Joe Co.) has shaved its combined vacancy level to 14.3% from a 2001 high of 17%, but a new report predicts full recovery is at least six months away.
LOS ANGELES-Alschuler Grossman Stein & Kahan signs a 10-year sublease valued at $30 million for space in Water Garden that will make it the largest law firm in Santa Monica. Occupancy is set for July.