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DALLAS-Investors are plunking their dollars into REITs in record fashion, say those in the know about Texas real estate. The state's countercyclical economy to the rest of the nation makes it a good landing spot as the stock market fights its 2001 battles.
ORLANDO-The New Castle, DE-based firm pays Airport International Park of Orlando $2.03 million or $89,823 per acre ($2.06 per sf) for a 22.6-acre parcel on the west side of Orlando International Airport, the area's newest commercial hot spot.
BIRMINGHAM, MI-Live-work units and other high-priced multifamily living is proposed by the Novi,MI-based developers for a trendy Downtown community. It will be built later this year on a former Erb Lumber site.
CHICAGO-Zifkin Realty & Development eyes more locations for the Denver, CO-based restaurant chain. So far, locations have been landed in Algonquin, Lincolnshire, Schaumburg, Warrenville and Wheaton.
LOS ANGELES-New state report says job growth has stalled, but Commerce Department notes third straight rise in nationwide consumer spending. Analysts, property investors try to make sense of it all.
BOTHELL, WA-City officials are expected to review comprehensive plan amendments this week that would permit auto dealers to operate in some commercial business areas previously zoned for indoor retail sales.
LOS ANGELES-Privately held Albion Pacific acquires the 12-story building in Downtown from another private group. The class B tower is one of the city's oldest office complexes.
NEW YORK CITY-As of mid June, the value of preferred REIT stock issued during the first half of the year amounted to $850 million, a stunning increase over the $24 million that came to market during the same period in 2000.
GEORGETOWN, TX-Developer Greg Hall is courting prospective retailers nationwide for about 113 acres that he has just bought in Georgetown. A NorthMarq Capital VP, who handled a $4.3-million transaction for the buy, says Hall is wooing big boxes.
BOSTON-The plan to build a new ballpark for the Boston Red Sox here in the Fenway right next to the old one appears to be fading and potential buyers for the team are scrambling to find sites in other locations.