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WALLINGTON, NJ-The self-storage operator will upgrade the four-story asset and build it out with more than 500 units. Trammell Crow arranged the transaction.
LONDON-Nationwide Building Society, one of the country's biggest houselenders, was forced to revise its forecast on house price rises yesterday. Instead of a 7% jump, Nationwide reckons it could be over double that by the end of the year.
WATERTOWN, MA-The renovated Arsenal site here needs to find new tenants as a number of its tech-related companies fall victim to the economic downturn. The area was supposed to be a more affordable alternative to the pricier real estate in nearby Cambridge.
LONDON-Mayor of London Ken Livingstone has given his approval to plans for a 43,000-seat stadium at Pickett's Lock in North London, designed to host the 2005 World Athletics Championships.
CHICAGO-Cushman & Wakefield reports north suburban Lake County is seeing an increase in deals involving users, boosting sales prices above replacement costs. The east O'Hare market also is holding up well.
AUSTIN-An Austin-based airport cargo developer is scouting for nearly $100 million so it can push projects in Europe and Latin America. Lynxs Group has retained CB Richard Ellis to help steer the fund-raising effort.
NEW YORK CITY-Unlike a typical defaulted security such as a corporate bond, a defaulted structured finance security supported by the cash flow of the underlying assets may receive cash flow from both interest and principal. And the cash flow can be substantial, says a new S&P report.
IRVINE, CA-The locally based developer has filed a petition for writ of mandate in state Superior Court, asking that Orange County residents be allowed to vote on fees that the county charges to pay for its sewer system.
MOUNTLAKE TERRACE, WA-Snapping up the second Interland Corp. property sold this year, the Snohomish County Housing Authority shelled out just $400,000 more than Interland paid when acquiring the 157-unit complex two years ago.
NEW YORK CITY-Seattle-based coffee giant Starbucks has signed a 10-year lease on the Upper East Side for a1, 200-sf store and is readying a second location in Worldwide Plaza.