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EVERETT, WA-With its stock price riding a 52-week high thanks to growth in its commercial loan portfolio, Cascade Bank on Friday becomes the first federally-chartered savings association in Washington State to convert directly to a commercial bank charter.
HOUSTON-McShane Corp. has wrapped up work on the first phase of its Northwest Crossing, a 62,000-sf office-flex building. The northwest submarket, says a McShane VP, is noticeably void of that product type. Coming next: a 53,000-sf office-flex structure.
MINNEAPOLIS-The Minneapolis grocery retailer and wholesaler plans to buy U Save Foods, an Omaha-based chain. Nash Finch Co. already owns and operates 97 supermarkets in the Upper Midwest.
LAGUNA HILLS, CA-The commercial printing company has paid Viking Investors more than $1.2 million for an 11,380-sf industrial facility in Laguna Hills. It will occupy the building this week.
NEW YORK CITY--The national development company Rockefeller Group Development Corp. has signed an agreement with ePropertyTax, the developer of an e-commerce solution for property tax management, for 15 Rockefeller-owned properties.
ATLANTA-The locally based hotel franchiser loaned the online management and reservations firm $10.2 million and will write off the unpaid balance on a second-quarters earnings report to be made to shareholders Thursday.
PHOENIX-The Phoenix senior managing director for Cushman & Wakefield of Arizona Inc. will be overseeing the 164th office in the corporate network. The brokerage firm has just opened a Las Vegas office and put a 19-year CB Richard Ellis veteran in charge.
Nerves in the UK property profession have received a nasty jolt as a top commercial agency releases a report telling of a drastic downturn in activity in one of the hottest office areas in the south east of England. And the US has a lot to answer for.
DALLAS-Few office buildings have exchanged hands in the Dallas-Ft. Worth market. It's not so much the economy as it is an attitude "to hold what you've got." Many properties are in the hands of REITs and long-term investors, who aren't ready sellers, say execs.
ORLANDO-Locally based CNL Hospitality Corp. pays Marriott International Inc. $130 million or $992 per room for the 22-year-old, 1,310-room Waikiki Beach Marriott Resort, directly across from the world-famous Waikiki Beach in Honolulu.