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GREATER BOSTON-Demonstrating that the multifamily market here is hit hard by the economic downturn, Torto Wheaton predicts negative absorption rates and increased vacancy rates for that market in this area in the coming few years.
DALLAS-An industrial building in the Grand Prairie section of the Great Southwest Industrial Park is hawked to an out-of-state investor. The recent trio of deals also includes industrial and retail leases.
TACOMA, WA-At its most recent meeting, the Port of Tacoma Commission has adopted a $63.6 million 2002 operating budget. The Port also plans on investing $127.1 million in capital improvements during 2002.
RANCHO SANTA MARGARITA, CA-Style Craft, a full-service printing company, grabs the 24,190-sf industrial building that includes some office space. The deal is valued at $2.7 million.
NEW YORK CITY-As real estate investors increasingly seek stability amid economic uncertainty, less luxurious but more dependable B and C residential assets are looking better and better.
LONDON-The UK economy was cooling even before 11 September, although there are no indications that the UK will follow the USA into recession. According to Lambert Smith Hampton this means lower rental growth for the foreseeable future.
DALLAS-It's a high-stakes poker game when it comes to economic development. It used to be location, location, location. Today, it's incentive, incentive, incentive, says a well-known Texas EDC instructor.
PLYMOUTH, MN-The shutdown of the research and development facility at St. Paul Properties, Inc.'s 3550 Annapolis Lane is one of several restructuring actions taken by the Lisle, IL-based telecommunications equipment company.
PHOENIX-The 13,300-sf building occupied by Epsilon Technology Inc., a subsidiary of ASM International N.V., is funded by Manulife Financial on behalf of the Douglas Allred Co. L.J. Melody Co. arranges financing.
BELLINGHAM, MA-The apartment developer applies for a comprehensive permit to build a 300-unit apartment complex with an affordable housing component here. While the town has concerns over the traffic impact of the project, the permit would enable the Texas-based developer to bypass local zoning laws.