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LOS ANGELES-All signs point to 2002 being worse for retailers than 2001, when nearly 6,000 stores went out of business, according to the International Council of Shopping Centers.
PHOENIX-Leases ranging from five to 20 years clear the decks for eight retailers heading to the 350,000-sf Village at Desert Ridge in North Phoenix. Just for Feet takes 12,134 sf for 10 years and the positioning as the largest space taker in the leasing flurry.
LOS ANGELES-All signs point to 2002 being worse for retailers than 2001, when nearly 6,000 stores went out of business, according to the International Council of Shopping Centers.
HOUSTON-Basic Dollar Wholesale snaps up a 36-year-old industrial property in Houston's southwest submarket. The 1.7-acre holding and 25,000-sf warehouse was marketed at $875,000. A local investor is the seller.
CEDAR PARK, TX-For five years, Cedar Park has been working toward this point. Now, the iron's hot for pushing hard with two economic development entities to lure employers to its midst. More than 3,000 acres are available as bait.
BURLINGTON, MA-InterGen subleases 65,522 sf of space here in a 135,000-sf building leased by Nokia. The cell phone company leased the building in anticipation of growth but the current recession forced a change in plans.
SEATTLE, WA-Pacific Lighting Systems' desire for a new headquarters, coupled with a lack of suitable properties in the target neighborhood, prompted owners Ken Jones and Seamas Markey to become developers.
DENVER-Mile High Properties LLC senior managing director Brad Neiman says 107 properties priced at least $1 million sold for $1.024 billion in 2001, with another $750 million in unsold product sitting on the sidelines.
OAKLAND, CA-Marriott International is selling an Oakland hotel and two Silicon Valley hotels as part a $181 million, eight-property deal with CNL Hospitality Corp. The Oakland property has already sold, while the Silicon Valley hotels sales are expected to close this year.
PORTLAND-A few months after real estate investor Barry Menashe pays $4.35 million for 100,000-sf of retail space on 10.3 acres at SE 82nd and Division, Portland Community College mentions eminent domain and now will be taking it off his hands for more than $5.7 million.