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PHOENIX-A $1.5-million sale of a 57,300-sf retail site puts an end to Reliable Furniture, which has hawked the last of three locations. Easy Telecommunications acquires the store for investment purposes, eyeing an indoor swap meet or eatery as possible uses.
ORLANDO-Metropolitan Orlando, Central Florida's chief transportation planning agency, will try to button down construction costs of the 52-mile system that would run from suburban DeLand, FL through Orlando and south to Kissimmee, FL. Preliminary estimated cost: $355 million or about $6.83 million per mile.
CHICAGO-Cohen & Steers Capital Management President Martin Cohen and Prudential Real Estate Investors CEO Bernard Winograd receive the National Association of Real Estate Investment Trust's Lawrence E. Miller awards.
ATLANTA-Revenue per available room won't improve at full-service inns until fourth quarter 2002 and at limited-service lodges until early 2003, according to new joint research by Atlanta-based Hospitality Research Group- and Torto Wheaton Research of Boston.
FT. WORTH-Woodmont Co. acquires a real estate development company and 42,000-sf center in new territory, the Pacific Northwest. The drive brings a 183,320-sf expansion to a retail center in Missoula, MT while talks are ongoing with other prospects.
NEW YORK CITY-Our latest survey tracks a slowdown both in new hires and in employee departures. As a result, companies are rewarding less for loyalty and more for performance. But production rewards are causing major differentials in salaries for same-status executives.
SAN FRANCISCO-Global Real Analytics of San Francisco has acquired the 16-year-old National Real Estate Index from CB Richard Ellis as part of a joint venture with Boston-based Property & Portfolio Research.
LONDON-The Kuwaiti Algerian Investment Company disposes of two hotel properties in South-West London for $11 million. In a post-September 11 investment slump, these are the only hotels to have sold in the capital.
BELLEVUE, WA-Richard Leider, former vice president with the local office of Spieker Properties, has been selected to continue construction of the 1.5-million-sf mixed use project in the heart of Bellevue's CBD.
ATLANTA-The Battle Creek, MI-based breakfast cereal producer is breaking ground this month on the Atlanta distribution center and has started a $47.4 million, one million-sf comparable center in Minooka, IL.