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EL CAJON, CA-The planning commission here has approved construction of the city's first power plant. City officials say it could be online by September and generate electricity for 49,000 homes.
ROYAL OAK, MI-Schostak Bros. of Southfield wants to build a six-story, 229,030-sf office building; a seven-story, 101,188-sf hotel; and 14,025-sf of retail, all served by an internal parking structure.
WASHINGTON, DC-The three-story, mixed-use building brings the investment firm's local holdings to over 500,000 sf of property worth about $50 million. UrbanAmerica specializes in acquiring and developing properties in low- to moderate-income communities.
NEW YORK CITY-Signings were down slightly compared to last month, but they amounted to nearly twice as much space as was leased in May 1999. A major portion of the total was the 700,000 sf pre-leased by Bloomberg.
EASTERN MASSACHUSETTS-While the downturn in the economy has begun to be felt in the office market here, a study conducted by Finard & Co. indicates that retail real estate in the suburban market shows little signs of slowing down.
EDEN PRAIRIE, MN-The $40-million building in Dublin, GA will serve 65 consumer electronics stores in Georgia, Florida, North Carolina, South Carolina, Alabama and Tennessee. It will bring approximately 250 jobs to the community.
BLOOMFIELD HILLS, MI-Three apartment complexes in Ypsilanti, MI; Woodhaven, MI and Detroit change hands for a total of $6.8 million, an average of $22,150 per unit, in separate transactions.
WASHINGTON, DC-Over the next decade, the upscale rental market may surpass the overall growth rate for housing demand. Factors favoring rental housing include shorter commutes, less "work around the house" and changes in the tax law.
LONDON-The Europa Fund has bought a portfolio of six German department stores from Redevco, the property arm of the privately-owned retailer C&A for euro 48 million ($41 million).