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CHICAGO-Neither slowing job growth or rising energy expenses are stopping the bullish Chicago area multifamily market, Marcus & Millichap says. Low interest rates and omnipresent condominium converters are among those to thank.
LONDON-Great Portland Estates has been granted planning permission by the City of Westminster for a 145,658 sf office-led scheme at 190 Great Portland Street, London W1. The scheme will underline the company's retrenchment into central London offices.
DETROIT-Three casinos are playing the waiting game. The would-be operators of MGM Detroit are frustrated at the lack of movement on plans, which isn't expected to get any better until after city elections.
ORLANDO-One of the real estate industry's favorite deal-makers today is Section 1031 of the Internal Revenue Code. The law allows owners to exchange like-kind properties and defer capital gains taxes for an unlimited term.
NEWPORT BEACH, CA-The layoffs will occur as a result of Conexant System's decision to sell the photomask portion of its operations. The locally based company manufactures semiconductors.
CARLSBAD, CA-Two agencies have thrown a wrench into plans for a pair of industrial park projects totaling more than 200 acres. The agencies are questioning habitat protection.
CHICAGO-A falling stock market also have made the returns on triple-net leased properties attractive to investors looking to defer capital gains taxes on the sale of their real estate while locking in a stable return.
LONDON-Royal London Mutual Insurance has continued the process rebalancing its portfolio in the wake of its merger with Scottish Life. Three large distribution units in the Midlands and North-West are the latest to have been sold.
ATLANTA-James Brown Trucking of Atlanta and Georgia Industrial Warehousing will set up a distribution center on a 22-acre site in Montgomery, AL, 144 miles west of Atlanta.
BROOKLYN PARK, MN-Kraus Anderson Realty Co. will build smaller service retail and medical office projects where the 52%-vacant Village North Shopping Center now stands as part of the city's development on Shingle Creek.