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CHICAGO-"We're back-dooring ourselves into a situation, whether we want to or not," Vornado Realty Trust's president says of the foreclosure action that could result in his REIT holding a one-third stake in Prime Group Realty Trust.
LONDON-The terrorist attacks on the USA on 11 September have not halted demand for prime retail properties in the UK. That's the conclusion of new research by Insignia Richard Ellis, revealed at MAPIC.
PORTLAND-AND 1, a seven-year-old basketball footwear and apparel company, signs a five-year lease for an industrial building at Southeast 7th Avenue and Ankeney Street that Jon Kellogg and Thad Fisco picked up 12 months ago for $275,000.
DENTON, TX-Texas Instruments is happy, the University of North Texas is happy and so are two brokers who have been marketing a 553,000-sf factory and 277 acres for years. The selling price is hushed, but TI had been asking $22 million.
ORLANDO-The founder/chairman of Realvest Partners Inc., Maitland, FL doesn't think carriers will stop writing policies but the premiums could be stiff.
REDMOND, WA-Third quarter earnings will not be released until the company consults the SEC on new accounting treatment of four development joint ventures. Shurgard did, however, say 3Q 2001 Same Store NOI was up 5.9% over the same period in 2000.
STAFFORD, TX-Alpha Circuits is done with a move from Sugar Land Business Park to Trammell Crow's Southwest Techniplex in Stafford, at least for now. The tenant has the keys to the first of a three-building plan that's on the drawing boards.
TRABUCO CANYON, CA-The buyer, Ephram Nehme, pays $8.4 million for the property, which is fully occupied. Anchor tenants Albertsons and Sav-On were not included in the transaction.
CHICAGO-The city works well without a master plan and with a process that virtually requires aldermanic approval of zoning within their wards, experts tell a Lambda Alpha International and Real Estate Investment Association symposium.
DENVER-The former Levitz furniture store warehouse, which had been slated for a rebirth as a telecom hotel, is being marketed by Gart Properties LLC as retail, industrial or office space.