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SACRAMENTO-Sacramento city officials are unsure about how they will use the vacant PG&E power plant and surrounding five acres, but have expressed a commitment to its use as a public space.
SAN FRANCISCO-By the end of this year, San Francisco office rates will be similar to those in Oakland, and the market will continue to look glum through 2003, say industry experts.
PHOENIX-Harsch Investment Properties of Portland gets $5.6 million for the last of its multifamily properties in Arizona. The plan is to focus on Las Vegas industrial product and properties in the Northwest. An Arizona retail holding is not for sale.
AUSTIN-The 100,000-sf Central Transportation building holds onto a 17,550-sf tenant, Lennox Industries of Dallas. NAI Commercial Industrial Properties and Jackson Cooksey negotiate the pact for 1001 W. Howard Lane.
MIAMI-A Philadelphia-based real estate investor and a Utah-based property management firm have formed a joint venture to buy up to $250 million of property over the next 18 months. The first two purchases are in south Florida.
WINTER SPRINGS, FL-The first of six planned retail/office buildings are expected to break ground in February with another 40,000 sf scheduled to start by year-end. Loft apartments or condominiums could become part of the project later.
HUNTINGTON BEACH, CA-ARCS Commercial Mortgage Co. LP has closed two mortgage loans with a combined value of $21.4 million for the Huntington Beach multifamily properties.
DENVER-The local company provides credit and risk management services to multifamily property managers while Boca Raton, FL-based Koriel REP Inc. develops software used by the industry.
PLANO, TX-A $20.3-million loan, equating to 80% of the purchase price, finances the England Group's latest acquisition in the region. Carrington Park Apartments in Plano will be the signature complex for the 11-property Dallas-Fort Worth portfolio.
TACOMA, WA-Eric Cederstrand says it will be a while before demand absorbs enough space to compel developers to put up another office building. Nonetheless, deal flow has picked up enough of late to boost the Colliers broker's outlook to optimistic.