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PHOENIX-This year's takeover of Del Webb makes surplus property of a grandiose, three-building office complex. The 125,340-sf corporate center carries a $19.8-million ticket, but it was built at a time when no expense was spared on design and materials.
ROUND ROCK, TX-Academy Sports signs up for its first Round Rock location, selecting Mays Crossing. The 30-acre retail undertaking also has sold a pad site to the Austin Area Teachers Federal Credit Union.
OAKLAND, CA-After renewing its lease for $50 million, the Oakland law offices of Crosby, Heafey, Roach and May has undergone the first phase of renovation, which is designed to maximize the property's space and update its appearance.
SEATTLE, WA-Of the 1.5 million sf of space in the multi-use complex, 51,000 sf is retail, and Harbor Properties has found taker for nearly 10,000 sf this month.
LONDON-Property as an asset class should play a larger role in institutional portfolios in troubled times, claims GVA Grimley's Rob Bould, Chairman of the Investment Property Forum.
CHICAGO-Economic clouds--and major competition from rival Walgreen's--aren't stopping CVS from making its play in the Chicago-area market. The drug-store chain is in the midst of redeveloping three stores for its expansion.
HARTFORD, CT-United Technologies Corp., which reports that it will eliminate 5,000 jobs in the next 12 months, has no plans now to close offices or plants in Connecticut or elsewhere, GlobeSt.com has learned.
ARDEN HILLS, MN-The $2.7-million building has been beset by delays; it is the first of a number of new developments on the city's old federal arsenal site.
LONDON-The shockwaves still reverberating after 11 September are likely to create a more cautious market in Europe. But even before the attacks vacancy rates were rising and rental growth slowing across Europe, reports Catella.
LOS ANGELES-John and Marion Anderson, among this city's richest investors and philanthropists, acquire 478,000-sf AmFac Center office development on Oahu. Deal marks one of couple's first large-scale purchases outside Southern California.