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HOUSTON-Enron's collapse and 4.2 million sf of sublease space surely spell the end to Houston's ability to dodge the brutal impact of a down economy. 2001 ended with overall office vacancy of 14.43%.
WASHINGTON, DC-More affordable housing projects are on the way as District officials allocate an additional $50 million to the $130 million total set aside for private activity bond funds to the DC Housing Finance Agency.
UPTON, MA-The proposed plan to put a biomedical waste processing facility here on a 22-acre parcel on Maple Street is becoming trickier as a local activist group introduces a zoning bylaw that would prevent such material from being allowed in the town.
SCOTTSDALE, AZ-Three office tenants have signed for an aggregate 5,440 sf at Camelback Executive Park, Hayden Park and Hayden Square. Paramount Financial Services leads the pack with 1,925 sf.
DENVER-Submarkets are going in different directions, according to Sharon Barrett, a principal of tenant rep brokerage firm Liberty Greenfield. She green-lights the Central Business District, while the stop sign is on in the Southeast and Northwest suburban submarkets.
VALENCIA, CA-Hopkins Real Estate Group, a Newport Beach-based developer, has purchased 7.39 acres of land here for $4.2 million. Hopkins plans to build a 70,000-sf shopping center on the site.
ORANGE, CA-Anderson Holding & Investment Co. sells the 11,200-sf industrial building, which is located here. Although Orange County's industrial market is fairly diverse, it too has been adversely affected by the weak economy.
LONDON-The office market in the West End of London had a poor year in 2001 with availability rising and prime rents falling, but new research from King Sturge shows that the situation would have been far worse had it not been for a surge in Government property activity, which accounted for 23% of all West End take-up.
CHICAGO-The retail REIT, which lost a bid for Rodamco North America NV's $5.3-billion portfolio, posts double-digit funds from operations growth in the fourth quarter as well as 2001.
NEW YORK CITY-Pfizer picks up 59,000 sf of expansion space on four floors in the building located next door to its headquarters. An affiliate of United Business Media doubles its space at the same property.