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BURBANK, CA-The Genesis LA Real Estate Fund has made a $5.5 million loan for the acquisition of an 180-acre parcel in Van Nuys. The property, bought by a partnership, is expected to become an eight building, light industrial park.
BIRMINGHAM, AL-The 75,000 sf structure for the school of health related professions was constructed by Doster Construction Co. and designed by a Montgomery, AL firm.
PORTLAND-As work progresses on its new 80,000-sf building at Southshore Corporate Park, Frito Lay unloads for $1.25 million a 15,000-sf building on 14 acres near the Parkrose Business Center. The buyer, Capital Electric Co., will take over the building after Frito Lay moves into its new facility later this year.
PHILADELPHIA-The financial services firm extends its stay at the 1.2 million-sf office tower with a long-term lease and will occupy an additional 4,000 sf at the trophy building.
AUSTIN-The 11-story Nokonah heads into the final stretch for one of the few CBD residential projects still forging ahead. A street-level retail component has attracted an unnamed newcomer, says the developer.
ISSAQUAH, WA-City officials have given a thumbs up to the software makers plans to build roughly 3 million sf of office space in a new campus in the Issaquah Highlands. No timetable for construction, however, has been set.
DENVER-With 14,320 units under construction here, only Atlanta is seeing more multifamily building, according to M/PF Research's Denver Apartment Report. It's a case of bad timing, the consultants say.
LOS ANGELES-Colliers Seeley fourth quarter 2001 report for the West Los Angeles office space finds the market softening from of continued negative net absorption and the completion of new space. The market has shifted from a very tight landlord's market 12 months ago into a tenant's market.