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HOUSTON-A service station and fast-food developer is getting in on the ground floor of the proposed West Houston Mall. Global Millennium has closed on two acres of the project that's coming to the Interstate 10 and Grand Parkway intersection.
EDINBURGH-Miller Developments and British Waterways have been granted planning permission for mixed office, retail, leisure and residential development at Lochrin Basin, on the restored Forth & Clyde and Union canals.
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.