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ORLANDO-With one million acres to play with in sparsely-populated northwest Florida, the locally based commercial real estate arm of publicly traded St. Joe Co., plans to enter the retail arena for the first time and develop eight high-traffic sites that could house a maximum 800,000 sf of new product.
SANTA ANA, CA-Across the street from the popular South Coast Plaza retail center, Arnold Schwarzenegger's Terminator costume is being replaced with a rich mahogany interior and upscale dicor as the new steakhouse is set to open in time for the holidays.
AUSTIN-A Fortune 500 survey of corporate executives ranks Austin at the top of the list for desirable technology locations. That's good news to those building owners seeking tenants for 2.9 million sf of sublease space.
NEWPORT BEACH, CA-The well-known retail hub of coastal Orange County is adding 35,000 sf of retail space and four new tenants. One anchor department store is adding a third level with an ocean view restaurant.
SAN DIEGO-Jones Lang LaSalle's second quarter report paints a positive long-term picture for San Diego while posing short-term concerns. But, the city is faring far better than its California counterparts. Overall, the office vacancy is riding at 7.4%.
MARTINEZ, CA-Lloyd Carone of Carone Construction purchased the property, which includes a building, for $1.4 million. The site is located on Waterbird Way, about one mile from both Interstate 680 and Highway 4.
LOS ANGELES-Jeff Scheferman, the retired Marine who has served as the brokerage firm's COO for 18 months, is promoted to president and chief executive. He replaces Robert (Cody) Plott, who is said to be heading for a hospitality group.
SEATTLE-The city raises the height limits by a few stories, but to build more than five times the size of the parcel, developers must now pay a $22 per sf premium instead of a $13 per sf premium.
PHOENIX-The metropolitan region is feeling a pinch from the sagging national economy, with industrial vacancy dipping by nearly a point. The 7.2% vacancy results from more than 1.8 million sf coming back on the market.