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MESA, AZ-The 25-unit 64th Place Apartments has reaped about $1.1 million for its Salt Lake City seller, Titan Properties Ltd. Taking title to the Mesa complex is a California-based investment group.
ATLANTA-The locally based multifamily developer hits 100% occupancy at the 452-unit Vinings community located just off Interstate 285 in northwest of Atlanta.
SACRAMENTO, CA-The the 25-story, 426,789-sf office and retail space has attracted two new tenants and four more have signed renewals and expansions. The building is now 99.6% leased.
DENVER-A 10% overall area office vacancy rate--it currently stands at 16%--is at least two years away, brokers for the company say. Some submarkets could see a 10% vacancy in as few as six months, others as long as 30 months.
SALEM, OR-The 100,000-sf building anchoring the northeast corner of the 650,000-sf mall was one of the few mall buildings not already owned by C.E. John Co., which is finishing up a $17 million makeover of the mall.
TAMPA, FL-Locally based Zaremba Brandon buys the 0.9-acre pad (39,204 sf) at Regency Square Shopping Center in Brandon, FL, a Tampa suburb, for $800,000. Zaremba plans a free-standing jewelry store on the site. Tampa is 80 miles west of Downtown Orlando.
SAN DIEGO-The San Diego retail market is victim of a slipping overall image of the sector in investors' eyes. It's unjust, say Burnham Retail Group researchers. Sales are down and construction's slowed considerably in a market that bears a 3.9% vacancy.
LONDON-In a contracyclical move, Development Securities has started buying up high street retail investments at a time when other investors are shunning the sector.
CHICAGO-Despite negative rent growth here and in Atlanta, First Industrial Realty Trust's strategy to spread its holdings over 25 major markets helps the REIT post a 29.3% second-quarter increase in earnings per share.
MINNEAPOLIS-The multifamily vacancy rate hovers in the low- to mid-2% range as population growth continues. However, a number of new projects are under construction, and a change in property tax law may spark more building.