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RANCHO CUCAMONGA, CA-Privately held ARS National Services Inc. signs pact to establish new call center here. The building is on the site of a former missile factory.
ORANGE COUNTY, CA-Keitaro Matsuda, senior economist at Union Bank, says 'near-perfect balance' between north and south could help California stay afloat while most others parts of the US sink further into recession.
SAN DIEGO-Burnham Pacific Properties Inc. has announced it will distribute funds to shareholders due to the closing of an eight-property portfolio last week. The distribution will be payable Jan. 8, 2002, to stockholders of record as of the close of business on Dec. 31.
DENVER-"The psychological impact of having 3.4 million sf of subleased space is huge," says Nick Pavlakovich, a senior director and top office broker at Cushman & Wakefield. That would push the overall office vacancy rate to 18%.
VANCOUVER, WA-City officials have said that if the naming rights aren't sold, the $63-million, 6,500-seat arena is not getting built. Burgerville USA founder George Propstra has pledged $2.5 million for naming rights on the convention center portion of the project.
SPOKANE, WA-The market here has never tended to cycle big. But its own measures its Class A vacancy rate of 8.37% is within the normsand at this point in time is showing stronger than Washington's largest metropolitan area.
CHICAGO-Security Capital Inc. has the right to redeem $40 million worth of preferred stock after Jan. 15 upon giving Prime Group Realty Trust 10 days notice. The REIT is in talks to restructure debt or raise money.
SAN ANTONIO-The San Antonio multifamily market hasn't been this active on the buy-sell front for nearly three years. Most institutional owners are pulling out. The sales have driven up average selling prices per unit $5,000 in the past year.
SAN FRANCSICO-After months of searching, Critical Path has leased a large portion of a mixed-use development in San Francisco's South Beach area. The company caught brokers' attention a few months back when it was one of few companies looking for a 75,000-sf space.
DETROIT-Three projects worth $65 million are coming to the area, the Detroit Chamber of Commerce reports. The largest is Recticel's 260,000-sf, $36-million facility in Independence Township, MI.