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BASTROP, TX-In two weeks, Bastrop will kick off the first new multifamily project to come out of the ground in a decade. Mets Properties is developing the 164-unit project, which is getting a jumpstart from an $8-million loan.
NEW YORK CITY-An array of commercial real estate professionals met yesterday to discuss the Toronto office market, referred to by one speaker as "the New York of the North.
TEMPE, AZ-All Pro Industrial Finishes has acquired a 60,900-sf industrial property, paying $2.4 million so it can expand its operation. The custom coating business will set up shop in 48,000 sf and lease the balance.
SANTA ANA, CA-Fremont-based P.J. Livingston & Co. is the buyer of the year-old building, which is fully leased to multiple tenants. The sellers were Werdin Corp and LNR Property Corp.
DENVER-The Home Builders Association of Metropolitan Denver releases statistics showing a 49% drop in building permits in the first quarter and Grubb & Ellis top apartment broker Jeff Hawks sees further declines.
ORLANDO-With models still under construction, the Dallas-based builder has racked up $4 million in pre-construction sales, selling 24 of the 70 townhomes at Park Maitland Villas in suburban Maitland at prices from $146,900 to the mid-$190s.
PALM BEACH, FL-The hotel real estate investment trust is lowering its outlook on second-quarter and year-end earnings as decreased demand for lodging has a negative impact on this company, based about 64 miles north of Miami.
WASHINGTON, DC-A study conducted by the SIOR Educational Foundation questions whether Web sites will change the way brokerages conduct business in the near future, but says the Web is becoming an important information conduit.
MIAMI- The potential return from investment in this product is spawning a new wave of luxury, multifamily-resort condominiums to meet the demand of an affluent segment of the society that wants all the trappings of luxury home ownership without the cost and upkeep. This is the first of two articles on the relatively new phenomenon in the South Florida shelter market.
LOS ANGELES-The Great American Insurance Co. has sold a 24-acre industrial property in Camarillo. The buyer plans to further develop the property by expanding a 113,000-sf building that currently stands on the parcel.