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AUSTIN-Multifamily owners in Austin are gripping tight to their properties and refinancing rather than sell at bargain-basement rates due to declining occupancies. Class A prices are falling, rent is flat and occupancy is down to 94.1%, say the experts.
SEATAC, WA-The $15-million financing by Sonnenblick-Eicher will fund construction of Lot C adjacent to Seattle-Tacoma International Airport. It was to be located directly across from a new airport transportation center.
HALF MOON BAY, CA-$1.5 million has been allocated by the state to acquire and preserve coastal bluffs and open space in Half Moon Bay, despite previous plans for residential and retail development.
LONDON-The boom is over. More and more members of the UK property industry's top professional body report that house prices are on their way south. Economic uncertainty is hitting the market hardest in London and the South-East.
SOUTH PADRE ISLAND, TX-Houston's Williams Brothers Construction is hard at work on repairs to the collapsed Queen Isabella Causeway. The contractor gets official signatures on the $4-million contract.
CHICAGO-A report released this week by a Skokie-based developer documents a significant increase in metro Chicago BTS activity. He charts first-half growth at more than six million sf.
MIAMI BEACH, FL-The city is negotiating purchase terms with the real estate investment trust on a 28,780-sf office building that is mired in a public-takings action.
DULLES, VA-Ground has been broken on a 105,400-sf, single-story building that will be part of an office park planned for 560,000 sf on a 57-acre parcel here.
LONDON-The boom is over. More and more members of the UK property industry's top professional body report that house prices are on their way south. Economic uncertainty is hitting the market hardest in London and the South-East.
SEATTLE, WA-While Colliers Executive Rob Aigner disagrees with some assertions that this market has the same characteristics of the early 1980's -- he does say new tenants are rare, and Puget Sound has almost no "deal flow" to help landlords with mountains of vacant space.