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PHOENIX-Vacancy rises to 15.8% across the market, according to Grubb & Ellis' third-quarter report, while available sublease space soars to 1.7 million sf. The report notes better than average demand for newer product.
AUSTIN-Steel goes up and buildings come down as office and hotel projects persevere in Downtown. Demolition paves the way for a 33-story, 525,000-sf tower expected to be ready in November 2003.
San Jose-The San Jose City Council has granted a six-month extension to the Palladium Company, which plans to build a billion-dollar shopping and entertainment destination in the downtown area.
MINNEAPOLIS-M.A. Mortenson is the general contractor on Abbott Northwestern Hospital's 388,000-sf building. The heart hospital is expected to be an economic development catalyst for the surrounding Phillips neighborhood.
AUSTIN-The locally-based chain opens a larger 3,700-sf company-owned store in La Frontera with embellishments in decor and service. There is in-store Internet access as well as computerized ordering system.
SPOKANE, WA-September 11 wounded more than occupancy rates. WestCoast Hospitality says costs for added security measures and other services could impact the bottom line in the future. But, given a quiet home front, one expert sees an industry verging on recovery.
LOS ANGELES-The district's bid for the hotel, valued at more than $76.5 million, had been thrown into limbo by a higher offer from privately held Casden Properties. But bankruptcy judge now says the deal can move forward, after Casden can't hammer out other terms with the seller.
ATLANTA-A partnership of Mardi Gras LLC and Capricine Investments paid Ampic Associates of Germany $105 per sf for the one-story, 114,176-sf building at Interstates 85 and 285 in northeast Atlanta.