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NEW YORK CITY-The market is ripe for buyers to beef up their portfolios at bargain basement prices. But buyers aren't picking up anything they can get their hands on. Their interest in multifamily reveals that buyers want to go where the solid opportunities are.
HOUSTON-First Franklin Financial Corp. has renewed a 3,305-sf office spot in Four Oaks Places' Interfin building, an 18-year-old office building in the Uptown-Galleria submarket. The San Jose, CA-based financial firm is a non-prime wholesale loan originator.
SOUTH PADRE ISLAND, TX-The weekend collapse of part of the Queen Isabella Causeway has officials huddling this morning in Port Isabel. Tourism and construction have ground to a near halt at a time when $11 million in revenue is generated per week.
CHICAGO-Cadim Inc. now has until Oct. 12 to complete its due diligence on its $227-million tender offer to buy most of Prime Group Realty Trust's stock. Travel disruptions prompt the extension.
ATLANTA-The locally based REIT will pay the annualized quarterly cash dividend in December to holders of record from Sept. 16 through Dec. 15. The amount is up from 7.5% in the second quarter.
SAN DIEGO-The Department of General Services, representing the Department of Parks and Recreation, has signed a six-year lease for 9,388 sf of office space near Mission Valley.
MESA, AZ-Kitchell Contractors' crews close the books on a 148,000-sf expansion on the 28-year-old Desert Samaritan Medical Center in Mesa. Expansions are done in the North Tower, women's center and pediatrics unit plus there is now more lab space.
TROY, MI-A coalition of developers, builders and government officials are promoting smart growth policies through public conferences, including one next month focusing on traffic gridlock in the metro area.
BLOOMFIELD HILLS, MI-The $200-million airport shopping mall will feature almost 200 stores, more than half new to the Tampa market, in 1.26 million sf. It is the third mega-mall opened this year by Taubman Centers Inc.