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BLOOMINGTON, MN-Property taxes remain shopping center owners' top concern but retail bankruptcies are No. 2 with a bullet. Best opportunities are restoration and redevelopment, says the Minnesota Shopping Center Association.
HOUSTON-The city's CBD office market is sure to feel the fallout from the imminent takeover by Dynegy of its CBD neighbor Enron. The commitment runs deep for an under-construction 1.2 million-sf high-rise, says an Enron source.
NEW YORK CITY-The analysis of 12 rated multifamily REITs focuses on five major areas of concern. With the study complete, four trusts are being scrutinized more closely going forward and outlooks have been revised on two.
COLORADO SPRINGS, CO-The 189-unit Woodstone Apartment complex trades between two California investment groups, selling for $7.2 million, 60% more than FSF Woodstone Associates paid for it five years ago.
DENVER-Layoffs and new office space are likely to push vacancies up and rental rates flat, according to a report by Marcus & Millichap, but fewer construction starts and low interest rates will keep the market stable.
SAN DIEGO-A local construction firm has completed work on a the giant panda enclosure at the San Diego Zoo. The 6,507-sf project includes two, two-story buildings inside the panda
SPOKANE, WA-The remediation and reclamation subsidiary of Enviro-Energy Corp. will be bidding for the $359 million clean up of the Silver Valley Mining Basis announced recently by the Environmental Protection Agency.
LOS ANGELES-Brokerage firm's president will assume additional role of West Coast regional manager. Sullivan becomes branch manager of Downtown office after stint as co-manager of West LA office.
LONDON-Availability of office space in Central London rose by 25% in October, according to new research from DTZ Debenham Tie Leung. Although vacancies are still at historically low levels, the level is growing fastest in the City and Docklands.