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LOS ANGELES-The multifamily property, which is located in Panorama City, has been snatched up by a family trust. Across the county, demand still greatly outpaces supply in the multifamily sector. New construction should do little to ease the problem, as recent research has shown.
GRAPEVINE, TX-Grapevine Mills makes an elite list of "good sports" that the Mills Corp. has ticketed in a teaming with ESPN. Come mid-2002, a state-of-the-art skatepark will launch at the Texas mega-mall, one of up to seven on Mills' drawing board.
ATLANTA-The Dayville, CT-based firm is also taking an option to buy the facility later this year at 100 Lakeview Court, replacing its existing 175,000-sf storage structure on Shirley Drive. The estimated value of the deal is $18.7 million.
ST. AUGUSTINE, FL-The Birmingham, AL-based commercial mortgage banking firm is placing Karl D. Francetic in charge of its new St. Augustine, FL office, 100 miles north of Downtown Orlando.
DENVER-A record $62.2 million pours into Colorado casinos in July, breaking the old mark set one year ago by $2.2 million. The mountain town of Black Hawk books 69% of the state gaming revenues.
ATLANTA-CBL & Associates Properties confirms it finally has an option to buy 200 acres at an undisclosed price for a regional shopping center about 20 miles south of Downtown.
HOUSTON-A merger fine-tuning puts Cushman Realty veterans Tim Relyea and Scott Wegmann in charge of the new Cushman & Wakefield of Texas Houston office. No layoffs of the combined 135-member staff are planned, but one office will have to go.
LOS ANGELES-The 155,992-sf industrial building has been leased by a third-party logistics firm. The Sacramento-based company has already occupied the facility, which is a new location for them. They will use the recently completed building to store bottles.
LONDON-Returns on property investment are declining as the economy slows, but property is still out-performing equities and government bonds, according to new analysis from Lambert Smith Hampton.