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FLAGSTAFF, AZ-An investment group with ties to Utah, California and Arizona completes the acquisition of the 132-unit Pinecliff Village Apartments in Flagstaff. The deal is a 1031 exchange for both sides of the fence.
EVANSTON, IL-The residential component of the $100-million redevelopment will be condominiums rather than multifamily rental units for seniors. The switch generates $1 million a year in additional property tax revenue.
ANAHEIM, CA-The tenant will occupy 25,000 sf for 10-years, according to the lease agreement. The deal exemplifies why year-to-date, the industrial sector has experienced over 600,000 sf of positive net absorption.
MADISON, WI-The owners of the 75,000-sf building plan to name it after AMCORE, which will open a 7,000-sf branch. Gialamas Co. says the Interstate 90 area is part of a growth corridor stretching into suburban Chicago.
ORLANDO- Orlando moves forward into the fourth quarter cautiously, having experienced a moderate decline in third quarter numbers and the emergence of significant sublease space.
SEATTLE-The long-time Northwest firm has been selected by Southwest Washington Medical Center for the $115-million, 287,000-sf expansion and remodel of its 360-bed facility in Vancouver, WA.
MADRID-S|deuropa KG, the property investment fund managed by Hypo Vereinsbank of Germany, has bought four office buildings totalling 130,000 sf from DTH Europa.
BETHESDA, MD-Host Marriott will soon move into nearly 68,000 sf of office space at Democracy Center. The hospitality real estate company signs a long-term lease with owners Boston Properties, Inc.
HOUSTON-Hines duplicates the flair of its high-end Texas Gallerias in a 941,000-sf retail venue in Barcelona. The unveiling is the first component to an 84-acre, mixed-use development. Diagonal Mar Centre boasts 240-plus stores.
ISSAQUAH, WA-The store on the site, which is set to open in early summer 2002, will be the size of a typical Costco outlet, which is about 150,000 square feet. On average, the stores cost about $11 million to build and employ about 250 people.