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MINNEAPOLIS-Marquette Capital Bank Bank hires three executives away from Firstar to establish new business, which will work together with the bank's commercial mortgage financing subsidiary, NorthMarq.
AUSTIN-Crescent Real Estate Equities has sold an 80% interest in the 390,000-sf Bank One Tower in the CBD. An affiliate of Fairfield, CT-based General Electric Pension Trust has taken the stake, striking a deal that keeps Crescent as asset manager.
DENVER-The Plainfield, IN-based sporting goods chain plans to open its second store in the market by taking over an 80,000-sf, two-level store that was formerly a six-screen United Artists movie theater.
PORTLAND-The Port of Portland controls four airports, five marine terminals, several business parks and other real estate holdings. The executive director post is chosen by the Port commission, which is appointed by the Governor.
AUSTIN-It's taken a couple of years, but Dallas-based Phoenix Property Co. is now ready to move from the drawing board to construction of a four-story, 50-unit apartment building in the CBD. Dirt should be flying by year's end.
TEMPE, AZ-USA Broadway, a RREEF entity, has transferred ownership of a 25,000-sf warehouse in Tempe to On-Time Logistics, a local freight shipper. The building carried a selling price of $52 per sf or $1.3 million.
NEW YORK CITY-Not only is this market sector populated by older properties and tired brands, the new limited-service hotels that compete against them are attracting travelers who are opting for less-expensive accommodations.
VAIL, CO-The largest owner of ski resorts in Colorado plans upgrades this year at Vail, Breckenridge ($13.4 million there alone), Keystone and Beaver Creek, as well as Grand Teton Lodge Co. in Jackson, WY.