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CHICAGO-Even with the downturn in the economy, fitness clubs still see the neighborhoods of the North Side of Chicago as prime sites for expansion. Within days of each other, two new ones announced plans to stake their claims in that part of town.
HOUSTON-Integrated Trade Systems, a software and tech solutions provider for the logistics industry, takes 37,111 sf for 2500 Citywest, a holding of Chicago-based Equity Office Properties Trust. The structure is located in the popular Westchase submarket.
BEVERLY HILLS, CA-Privately held Casden Properties, one of SoCal's biggest apartment owners and developers with more than 50,000 multifamily units, is being acquired by Denver-based REIT Apartment Investment & Management Co.
MIDDLETOWN, NJ-The integrated circuit maker for the broadband business has signed a long-term, agreement for an entire building owned by the M. Alfieri Co., just off the Garden State Parkway.
IRVING, TX-FelCor snares Michael A. DeNicola from Lend Lease's Lodging and Leisure Group. His top priority will be to develop an investment strategy for up-and-coming "market opportunities" while re-evaluating the 2001 disposition list.
LOS ANGELES-Law firm of Luce, Forward, Hamilton & Scripps is chosen to help with the city revenue-bond offering. Proceeds will be used to build 118 units of senior housing and renovate an apartment complex for low-income families.
SNOWMASS VILLAGE, CO-Aspen Skiing Co. and Intrawest Corp. have big plans for Snowmass, if officials like what they see in a pre-proposal for a large-scale base village. Everything from "warm beds" to apre-ski bars are on the developers' holiday list.
SPOKANE, WA-The Inland Empire runs counter to economic doom and gloom stories affecting much of the rest of the nation. From downtown high-rises to a suburban business park, the Spokane Area Economic Development Council expects real estate development to top $500 million.