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DETROIT-The massive Campus Martius project in Downtown Detroit moves the terminal from Cadillac Square to Capitol Square. A new terminal will be built after office/retail complex is completed.
DENVER-Seller 1421 Steele LLC sees a 166% return in just three years on its investment in the 12-unit Steele Manor Apartments in the Capitol Hill area east of the Central Business District.
SAN FRANCISCO-Merrill Lynch has put three floors in Financial District on the sublease market. Broker Cushman & Wakefield may face a challenge in finding tenants, as there is about 6.5 million-sf of sublease space on the market.
WATHAM, MA-Vacancy rates continue to rise as rents fall in the Route 128 area. While a local broker tells GlobeSt.com that relief is not coming quickly, he does note that a number of deals are in the works here and the biotech industry is starting to look this way.
ALLENTOWN, PA-The area's second Garden Inn is located near Lehigh Valley International Airport. Owned by HJ & VJ Inc., the newly constructed hotel will operate under a licensing agreement with Hilton Inns, Inc. and will be managed by Meristar Hotels & Resorts.
HOUSTON-The 3030 S. Gessner office building starts the year with a new tenant, Silicon Valley Inc. Posted stats for the 60,476-sf Westchase building, owned by BMS Management, place occupancy at 49%.
SAN ANTONIO-The initial forecast for San Antonio is cautionary as researchers map out another sluggish year. The Grubb & Ellis report says the downturn will drag into 2003 for the city, save for its class B and C multifamily products.
LONDON-Troubled telecoms equipment manufacturer Ericsson has followed up the sale of its London headquarters to BP with the sale and leaseback of its research and development complex in Burgess Hill, West Sussex.
OSSEO, MN-Bell Tower is being developed by Landcor and already has landed tenants such as Bev-Cor, Pinnacle Engineering and RightCHOICE Managed Care, Inc. despite a $14 per sf asking rental rate, 15% above the average class A price.
IRVING, TX-Build-out begins this week on a 12,491-sf office spot in Royal Ridge Building 7, a CarrAmerica project. Moving in Feb. 15 will be newly signed tenant, First Health Corp., taking the four-building complex to 89% occupancy.