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EDEN PRAIRIE, MN-The 1,800-store consumer electronics chain will convert the 91 Future shops to Best Buy outlets over next several years. Future Shop President and COO Kevin Layden will stay on.
PORTLAND-Originally scheduled for completion at the end of this year, the 148,000-sf project is now fully permitted and nearly twice its original size. As soon as tenants are secured, the listing broker says the building can be up and running in 16 months.
HOUSTON-It's been six years in the making, but the time has come for Hines and joint capital partner, Warsaw-Centrum Borough, to break ground on a 390,000-sf, class A office complex in Warsaw.
LOS ANGELES-Annual real estate and economic forecast meeting will include leaders of City National Bank, American Realty Advisors and Deloitte & Touche. Several hundred are expected to attend the event next Tuesday at the Regency Club.
BERLIN-The office market in Germany's capital city is well positioned to survive the threat of a global economic downturn according to a new report from FPDSavills.
BUFFALO GROVE, IL-The 236-unit, 98.1%-occupied property is in the process of getting a $20-million mortgage from an institutional lender for 10 years at 6.43%. That's $9 million more than the previous mortgage.
LOS ANGELES-Partnership acquires the St. James Apartments in Hollywood area from privately held GTS Property. Deal shows how the relatively few large projects that have hit the market recently are selling quickly.
UNIONDALE, NY-Office space on Long Island remains tight and rents are holding firm, although some sublease space is appearing. One Nassau County company is taking 30,000 sf at EAB Plaza in a move from Rockville Centre.
CHICAGO-The global real estate firm blames a slowing in closings of transactions as clients delay or bow out of deals. While cutting $45 million in costs, severance packages will add up to a $40-million fourth-quarter charge.
FT. WORTH-The good news is the funding well isn't dry in Texas, says Integra Realty Resources. But, the caution light is on. More equity is required, rates are down and good product, except travel-related, can still get loans under 7% interest.