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SAN JOSE-"This has been the lowest level of activity in commercial real estate since 1988, but it also is a time that presents great opportunities for savvy tenants," Mike Michaels, a principal of CRESA Partners, tells GlobeSt.com.
BEAVERTON, OR-The Beaverton School District pays $4.99 million for a 13.84-acre site on Northwest 167th Avenue that includes a 45,000-sf building. The district is also leaning toward condemnation proceedings to acquire 18 acres off Barnes Road.
DELRAY BEACH, FL-The locally based homebuilder is exercising its right to redeem 100% of $35.8 million in outstanding senior notes. Delray Beach is 47 miles north of Miami.
CHICAGO-A loan closing checklist and clearer guidelines on what mortgage documents are kept and by whom should make commercial mortgage-backed securities better investments, those involved in a joint task force say.
ANAHEIM, CA-Lagen Walter Family Trust paid approximately $1 million for a 10,080-sf facility. The county has seen an increased number of office transactions in recent weeks, but some local real estate experts still predict troubling times ahead for the office market.
SEATTLE-The locally based golf and leisure apparel company eliminates jobs for the first time in company history and intends to open just two stores this year due to lousy sales.
ATLANTA-The 300-acre, 1,100 megawatts Sugar Creek natural gas facility in West Terre Haute, IN will provide 300 construction jobs for four years and 25 highly-skilled permanent positions. The plant expects to be operating by June 2002
FORT LAUDERDALE, FL-The city approved a private vehicle drive in the Boca Raton-based developer's plans to build a 330,000-sf office/retail complex Downtown. Fort Lauderdale is 26 miles north of Miami.
POWAY, CA-City officials have approved plans to build a 71-unit affordable-housing complex near Civic Center Drive and Community Road. City officials say the proposed Hillside Village complex could break ground by the end of the year.
DENVER-The bank gives previous owner ROC Properties a $4.5-million gross profit even though the city continues to mull condemnation of the office building to make way for a 5,000-seat auditorium.