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LOS ANGELES-The City Council gives its final blessing for a developer's 1.2-million-sf 'NoHo Commons' mixed-use complex, a cornerstone of LA's efforts to redevelop North Hollywood's blighted urban core. Construction could begin late next year.
CHICAGO-Industrial revenue bonds help family-owned Primrose Candy Co. expand operations expand its operations on the Northwest Side. Primrose saves $20 million over 20 years when alderman give their expected approval.
SAN FRANCISCO-Marcus & Millichap reports that in the unstable Bay Area commercial market, investors have the most confidence in the retail sector. A regional manager for M&M says that as other markets decline, retail property looks better and better.
JERSEY CITY-The local planning board has okayed K. Hovnanian's plan to add to the 800 units that make up the first two phases of Society Hill on this city's other waterfront.
PHOENIX-In unrelated industrial lease deals involving Grubb & Ellis broker Marc Hetzberg, Betel Ministries takes 8,050 sf at 3035 W. Thomas Rd. while Custom Cabinets leases 7,490 sf at 2224 W. Desert Cove.
MIAMI-An undisclosed affiliate of Fort Lauderdale, FL-based Gumberg Asset Management Corp. paid Prudential Insurance Co. of America $87 per sf for the 13-year-old, 293,000 sf property in the Aventura area of north Miami.
ALBUQUERQUE, NM-Corporate belt-tightening has created sublease space across the market that's less than half of the size of Denver's Central Business District, a report from Grubb & Ellis observes.
DALLAS-Higher returns, parental guarantees on rent and a steadily increasing tenant base make off-campus, shared-living projects a windfall for those who can afford to develop. Rent by the bed, not unit, is the premise.
HANOVER, MD-New Jersey's Whitehall Industrial Properties sells the warehouse/office building at 521 McCormick Dr. Whitehall acquired the building in 2000 and began major renovations soon after.
SAN DIEGO-Senior Resource Group LLC, a locally based developer of senior housing, has received one of the industry's highest awards for health-care practices from the Joint Commission on Accreditation of Healthcare Organizations