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LEXINGTON, MA-Permanent financing is arranged for a three-building office and research and development complex here near Route 128 and Hanscom Field, indicating that deals are still happening despite the slowdown in the market here.
SAN DIEGO-The 38,800-sf Scandia Plaza has been sold to a limited-liability partnership based in Leukadia for $3.6 million. The center sits on 1.78 acres and was fully occupied with five tenants at the time of sale.
MIAMI-Finger Development Co., a Finger Cos. affiliate, plans 437 apartment units, 19,400 sf of retail and 701 parking spaces on a four-acre site on Biscayne Boulevard. Area construction estimators tell GlobeSt.com it is at least a $50 million undertaking.
CHANDLER, AZ-Ryan Cos. and City Group Investments kicks off work on its second joint venture in the Valley. Chandler Freeways Business Park is a 58-acre, $35-million project that is starting with 166,400 sf of the planned 850,000 sf.
SOUTHFIELD, MI-Ronnisch Construction Group creates a new, larger Home Depot design in Auburn Hills and is working on retail buildings for a Detroit area school district. A build-out for KPMG also is on the firm's punch list.
SABINE PASS, TX-Horizon Vessels, a subsidiary of Horizon Offshore, acquires a 30,000-sf marine industrial facility positioned on 30 acres along the Gulf Coast. Friede Goldman Halter is the seller of the Sabine Pass property.
PORTLAND-No costs have been bandied about yet, but trustees of Pioneer Courthouse Square are considering turning much of the City's central gathering place into an ice skating rink during the winter months.
DENVER-The chairman, CEO and founder of Apartment Investment and Management Co. says the economy will pull out of the current downturn next spring or next summer, and won't be as severe as the 1980s versions.
CHICAGO-Equity Office Properties expects the recession to be longer than anticipated, believes it is prepared to weather the storm. The US' largest office owner sees strength in Central Business Districts, softness in the suburbs.
AUSTIN-Stratus Properties is saying "yes" to some construction projects and reconsidering others while it nears completion on an office building in Austin's southwest submarket. The Austin-based developer reports $3.1 million in net income for Q3.