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TELLURIDE, CO-The Dallas-based firm will manage 35 cabins and condominiums to be built by See Forever Ventures LLC, adding to its presence here that includes managing 300 hotel rooms and 23 other cabins and condos.
VISTA, CA-The executor of a living trust has bought a 65,000-sf industrial research and development building in the 69-acre Palomar Corporate Center for just under $4.1 million.
HOUSTON-Westland Tech Center I in northwest Houston baits an 11,200-sf lease from Honeywell. The 61,600-sf, one-year-old building is part of a 420-acre development near the city's industrial distribution hub.
NEWPORT NEWS-The Oyster Point Business Park will get a new tenant with the upcoming opening of a Bank of Williamsburg loan office. The bank will take on an approximately 1,700-sf space in one of the complex's buildings. Officials are not releasing further details of the leasing arrangement.
WOODLAND HILLS, CA-The three current projects include the development of a new constituent service center for the City of Los Angeles, a build-to-suit of a new corporate campus for a publicly held firm, and the renovation of a large industrial facility.
IRVINE, CA-The buyer, a Stockton-based construction company, pays $10 million for the property. Built in 1978, the property contains 1-bedroom, 2-bedroom and 3-bedroom units.
NEW YORK CITY-New hotels opening in Manhattan will benefit from the lack of funding for hotel construction here. But investor interest in the lodging market on a national level is keen, with a recovery predicted for 2003.
CHICAGO-"Look for rents to flatten out or decrease in 2002 and for concessions to continue increasing," says Jeff Samaras, executive director in Cushman & Wakefield's Downtown office, on the overall Central Business District market.
PHOENIX-Grubb & Ellis Co. says the metro Phoenix office slowdown is a short-term headache. In a 2002 Forecast, the long-term outlook is very strong. This year's expansion will come from local businesses as more major employers toe the line with renewals.
PHOENIX-Centex Homes caps a year of pushing a project through entitlement and closes on 14.2 acres in Anthem. An April ground-breaking is planned for 210 condos and townhomes within a half mile of Centex's new single-family development.