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PORTLAND, OR-Schnitzer Investment Corp. reveals the price of its 103,000-sf purchase last week and confirms Dave Evans & Assoc. will lease much of the building, relieving an Enron subsidiary of a sublease agreement it no longer wanted.
ORLANDO-Sun Trust Banks Inc. of Atlanta, which is buying the Columbus, OH-based company in February, has no interest in taking over the space at 34 Florida supermarkets.
BUSHNELL, FL-Sumter County officials are approving an estimated $25 million, 14,000-sf, 40-cabin retreat on 800 acres in Wahoo, FL, a hamlet so small it is even on the map yet. The location is about 50 miles northwest of Downtown Orlando.
SANTA MONICA, CA-The locally based REIT, which owns 137 courses across the country, says a key tenant is having trouble paying its bills. Its share price has dropped more than 30% in two trading days.
HOUSTON-Rob Roberson becomes executive vice president and NAIOP's 2001 Rising Star, Caleb Lawson, steps into Roberson's old role as vice president of the industrial division. Re-channeling their energies is sure to benefit the firm, says the CEO.
DENVER-"The commercial real estate economy will lag the recovery in the general economy," says Rick Pederson, chairman of Ross Consulting Group, predicting a 2003 recovery. Office sellers can expect 15% less than current asking prices.
PHOENIX-Heated competition for two vintage apartment complexes in Phoenix and Yuma get the sellers just about what they wanted. The 270-unit Camelback Cove baits 94% of its ask or about $9.6 million and the 176-unit River Park, 97 1/2% or about $7.8 million.
LAFAYETTE, CO-A 16,630-sf office, research and development building in the Lafayette Tech Center is financed by a $1.4-million loan arranged by Minneapolis-based NorthMarq Capital. Kollmar-Jackson LLP is the borrower.
RICHMOND, VA-Bank of America provides the Regency Square mall with $82.5 million of fixed-rate mortgage financing. The deal entails a 10-year mortgage with a 7.2% interest rate.