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PHOENIX-A survey of 14 submarkets doesn't bode well for the metro area, says M/PF Research. If the region is lucky, rent could stay flat amid slipping occupancy and rising supply. The market slipped despite the annual influx of snowbirds.
VAIL, CO-Vail Resorts Inc. plans its largest-ever project, adding 50,000 sf of retail space, riverfront townhomes and a five-star, luxury hotel for its properties in the west village of this ski resort.
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.
TEMPE, AZ-International Capital Partners gets 83,385 sf of industrial space, four tenants and five fully occupied buildings at 30% below replacement costs in its latest acquisition, the Interstate Commerce Center in Tempe.
STERLING, VA-SimplexGrinnell signs a lease for 23,787-sf of space in one of the five structures that make up the Airport Commerce Center @ Dulles. The going rate for space in the 22712 Commerce Center Court building is $6.75 per-sf, triple net.
COLORADO SPRINGS, CO-NorthMarq Capital arranges $25 million in permanent financing for a 243,366-sf neighborhood shopping center here and six-story 103,840-sf historic bank building at 918 17th St. in Denver.
ORLANDO-Thomas R. Kohler, executive director of the Downtown Development Board during the city's boom commercial real estate era, joins Bill Owens' Real Estate Research Consultants Inc. as senior vice president on Feb. 8.
LOS ANGELES-GLJ Holding, operator of C&H Merchandising, a fabrics company based in Gardena, buys land in Harbor Gateway Center here on which it is planning three warehouse-distribution buildings totaling 140,000 sf.