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PORTLAND-Constructed in 1875, the Downtown federal courthouse is one of the oldest courthouses west of the Mississippi River. The $16.6-millionin funding will help restore the building and protect it from earthquakes.
AUSTIN-Startup companies aren't likely to make any sizable dent in Austin's office market. Venture capital, which once fueled an office-building boom, is drying up. Fewer companies will come online in the next two years to help with the space glut.
PLYMOUTH, MI-A $700,000 brownfield cleanup plan will go a long way to help build a $31-million condominium complex Downtown, adding to a list of other residential and mixed-use projects in the neighborhood.
LONDON-It looks like the top of the market. One of the UK's most authoritative house price indices records a drop-off in house prices across the country for the first time as job cuts and economic uncertainty hit purchaser confidence.
THE WOODLANDS, TX-Two office buildings, totaling 149,947 sf, hook a Santa Fe-based investment group buyer. It's a first for the Woodlands submarket and a definite sign of submarket maturity, says a Holliday Fenoglio Fowler broker involved in the sale.
NEW YORK CITY-There's a bumpy road ahead for the short term, but one of Manhattan's leading real estate players addressing an audience at the Waldorf-Astoria Hotel this morning said "the glass is half-full, not half-empty.
DENVER-Durango has a 0.9% vacancy rate, the lowest in the state. Colorado Springs' vacancy rate was 5.4%, highest since the first quarter of 1999. The average rent for the state rose 4.25% to $785.
PHOENIX-A Los Angeles investment group exits the Phoenix market with the $5.6-million sale of the 136-unit Greens along N. 23rd Street. Its golf course positioning and location had investors lining up when the complex hit the market in April.
BALTIMORE, MD-Amid financial troubles, three Prime Retail Inc. executives resign from the Board of Directors. The ailing company's CEO thanks the departing members, and plans to replace two of the positions in a December shareholder meeting.
PLEASANTON, CA-Rreef has selected Lee & Associates East Bay to market 635,000-sf spread amongst several East Bay developments, the largest of which is the Sierra Trinity Business Park is a 12-building, 223,371-sf, multi-tenant flex project in Dublin.