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LOS ANGELES-In the latest of four deals in recent weeks, a Beverly Hills-based LLC pays $4.8 million for a North Hollywood development. Less than 5,000 new apartments will be delivered to the Los Angeles/Long Beach market in 2001.
HOUSTON-John Deere Landscapes is tapping into the wholesale nursery market in Houston, buying about 22.3 acres near Interstate 45. Southwest Realty Advisors and Anderson Properties broker the land sale.
LONDON-Against a backdrop of a slide in hotel occupancy throughout the UK, the prestigious Marriott Hotel in London's Grosvenor Square, has been put up for sale by its Japanese owners.
SALEM, OR-The top Burger King franchiser in the region tells GlobeSt.com it has obtained the rights to open up Del Taco restaurants between Woodburn and Corvallis. It hopes to open up the first location, either leased or owned, by the end of next year.
SEATTLE-They may not be quite as astounding as the incredible numbers posted a few years ago, but vacancy rates in the five neighborhoods within the Seattle sub-market are still well below 5%, and rents continue to rise.
MESA, AZ-Half Price Books, Records and Magazines has its eyes on a holiday season opening in 9,870 sf near Mesa's Superstition Springs power center. The Dallas-based discount retailer has signed a 10-year lease for the E. Southern Avenue location.
MT. CLEMENS, MI-Three apartment complexes in the state have changed hands for an average of $29,147 per unit, according to Income Property Organization of Bloomfield Hills. The deals top $6 million and involve more than 200 units.
AUSTIN-Koger will continue to oversee its Austin and San Antonio properties that are part of a 3.9 million-sf portfolio under option from New York-based Apollo Real Estate Advisors. It's a $300-million option that allows Koger to shop the market.
LAS VEGAS-The legendary Steve Wynn is at it again in Las Vegas, where he is rolling the dice on an estimated $1.3-billion new resort on the Desert Inn property. He's sure to score with his "next-generation" plan, say Colliers International execs in Las Vegas.
HOUSTON-After 14 months, Houston-based Stage Stores declares it has emerged from a Chapter 11 bankruptcy. Citigroup loans provide up to $125 million in working capital and as much as $200 million for customer accounts. There are 342 stores left in the chain.