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LONDON-FPD Savills finds that 800,000 people face very limited household choices. A government commission reports that 43,000 extra homes will be needed every year for the next decade to alleviate the housing shortage.
ALLEN, TX-L&B Realty Advisors, acting on behalf of an institutional investor, has the deed to a 92,000-sf office building in Allen, a Dallas suburb. The Enterprise Office Center II acquisition is L&B's first in Allen, but won't be the last.
PHOENIX-Fairmount Real Estate Investments believes there's a market in downtown Phoenix for for-sale residential units. Dirt's flying on the 31-unit Downtown Phoenix Lofts, which is the first play for that market in the CBD.
MIAMI-A newly released mid-year market survey, predicts, however, that leasing activity will rebound quickly once the economy re-emerges from the current slowdown.
PONTIAC, MI-The Galloway Project will feature a mix of 68 brick homes, 54,000-sf of retail space and 51,000-sf of offices in two towers. Completion of the $27-million development is scheduled for summer 2003.
HARRISON, NJ-This industrial community, across the river from Newark, will get almost 3.4 million sf of office space, 600,000 sf of retail and nearly 3,000 residences in the next decade.
SAN DIEGO-The historic US Grant Hotel has been reflagged under the Wyndham International Inc. name--he third major San Diego hotel to be added to Dallas-based innkeeper's portfolio.
WASHINGTON, DC-W. Ronald Burton will join the staff of the Building Owners and Managers Association as executive director of advocacy and research advancement.
LOS ANGELES-The international brokerage and management firm will continue operating as CB Richard Ellis, but shares of the company, which closed trading at $15.99 today on volume of 40,000 shares, will no longer be listed on the New York Stock Exchange.