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GLENDALE, CA-Apartment owners here draft a proposal that would make residential rental contracts work much like office leases. The plan could be presented to 4,000 local owners within days.
NASHVILLE, TN-The affiliate of Illinois-based Wexford Bancgroup paid Lend Lease Real Estate Investments Inc. of Atlanta $11 million or $20.80 per sf for the 528,840-sf Reemay Distribution Center, 10 miles north of Downtown Nashville.
WOODRIDGE, IL-Ground is broken on the first phase of the 19-acre Maple Point Business Park/ Woodridge while a Birmingham, AL-based manufacturer leases 44,122 sf of industrial space in Internationale Centre.
COLORADO SPRINGS, CO-Grubb & Ellis forecasts land sales will fail to crack $150 million this year, down from the previous two years and even more sharply from the $200-million-plus level in 1996.
CHICAGO-Dirt for multifamily projects around the Loop is trading from $75 per sf to $125 per sf, with the underlying zoning and maximum number of allowable units being a driving factor.
ALTOONA, FL-Human Services Associates of Orlando outbid a dozen buyers for the 32-year-old, 67-acre property, 35 miles northwest of Downtown Orlando. The shuttered, financially-ailing former foster care facility will reopen in 2002.
SAN DIEGO-A law firm has leased 120,000 sf in a 26-story high-rise office development by scheduled to begin construction by Lankford & Associates Inc. Downtown next year.
SAN DIEGO-The Port Commission has voted to allow the county to enter into a $275,000 contract with Gafcon construction management company for the $54 million North Embarcadero plan.
WOODBRIDGE, NJ-A relative lack of spec construction has combined with economic stability in the product-related services category to keep the market solid, according to Newmark JGT exec.
HOUSTON-A 23-acre tract has been sold in North Houston and the word on the street is that multifamily developers Hettig/Kahn plan to turn the land into a new multifamily project.