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PINETOP/LAKESIDE, AZ-Phoenix-based AMP Real Estate has paid $1.6 million to a California investment group for a 48-unit apartment complex in the rural community of Pinetop/Lakeside. The buy is the Apple Tree Apartments along W. Jackson Lane.
CHINO, CA-Tibbett & Britten Group takes 458,262 sf of distribution space at Centrepointe-South development. Leasing, sales activity in the area has been strong even as other Southland markets falter.
ATLANTA-The locally based homebuilding, mortgage and title insurance company sets new company highs in its third fiscal quarter, showing net income at $19.9 million, up 88% over the comparable 2000 period.
SAN FRANCISCO-Limp leasing activity, negative absorption, soaring vacancy rates, tumbling prices. That is how Whitney Cressman describes the situation in its first half report on the local office market. Second half forecast: More of the same.
PHOENIX-It's not much, but 14,500 sf of sublease space comes off the market in a deal between McCullough Mortgage and North American Mortgage. McCullough will be moving into the class A Biltmore Lakes in the Camelback Corridor.
LONDON-The withdrawal of US companies from the market has slashed take-up in the UK's Western Corridor. According to CB Hillier Parker, take-up in the first half of 2001 was only half the level seen during the preceding six months.
SAN DIEGO-The dot-com meltdown fluffed up the county's office vacancy in the first six months of the year, according to statistics from CB Richard Ellis.
DALLAS-Archon Group LP has accorded its prestigious Accolade Award on the Jones Lang LaSalle Dallas team in charge of office and retail leasing for Prestonwood Creek along Beltline Road in Dallas. The project's office is 94% occupied and retail, 100%.
FORT LAUDERDALE, FL-The Chicago firm's 11-story, 165,626-sf First Fort Lauderdale Place is 30% vacant in a Downtown Fort Lauderdale submarket asking average rents of $25.50 per sf. The property is 26 miles north of Downtown Miami.