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TROY, MI-An office developer receives a zoning change for a planned $55-million office building in this Detroit suburb, where leaders want a consistent site plan and assurances vacancies won't increase with another complex.
LONDON-Reports in <I>The Times</I> newspaper say that the UK Government will today appoint the Meridian Delta consortium--headed by property groups Quintain and Lend Lease--as preferred bidder for the redundant Millennium Dome in Greenwich, South London.
SAN DIEGO-To be on the safe side, the San Diego City Council has re-approved all its agreements regarding the proposed downtown ballpark. The vote was brought about by allegations of conflict of interest.
WASHINGTON, DC-In a decision brought on partially by the current economic climate, CRIIMI MAE, Inc. plans to let go of its master and primary servicing contracts in conjunction with commercial mortgage-backed securities. The move will allow the mortgage lender to focus on loan management and special servicing.
WASHINGTON, DC-American Realty Advisors of Glendale, California pays $34.5 million for the Capitol Hill area's 810 First St. building. The purchase is made on behalf of one of American's pension fund clients.
SAN JUAN CAPISTRANO, CA-According to the agreement, the social services organization will take 8,007 sf for five years. The group will relocate its South Orange County branch office to the new location.
CHICAGO-General Growth Properties, Inc.'s "a multi-billion dollar portfolio" acquisition appears to be Urban Retail parent Rodamco North America, which reportedly is being eyed by Simon Property Group and Rouse Co. as well.
SACRAMENTO-Stubborn property owners wanted high prices for their parcels on K Street, foiling developer Westfield Corp.'s plans to expand Sacramento's Downtown Plaza two blocks eastward.
NEW YORK CITY-Lehman Brothers will ask the City Planning Commission today for a permanent amendment to the Zoning Resolution to accommodate the entertainment-space requirements of its new building. Opponents say the request could undo much of the work the area's current zoning laws made possible.
ORLANDO-The Parramore area's $63-million mixed-use project is off and running. The project, set to deliver in 2003, will serve as a magnet for other commercial development. The project comes with an affordable housing component and 25,000 sf of retail space.