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CHICAGO-Reconstruction of the upper and lower levels is going on along the east-west portion of Wacker Drive while three new office towers will rise along the north-south portion of the drive by 2004-05.
DENVER-A year's free rent for a BMW X-5 sports utility vehicle is the bonus being lured by the local office of First Industrial Realty Inc. to any broker who leases its 82,044-sf building in the Freeport Business Center.
LOS ANGELES-Builder G.H. Palmer Associates, the company that helped start Downtown's apartment boom a few years back, goes to work on a second building in the CBD that will total 297 units.
NEWPORT BEACH, CA-Nike Inc. will open up two women's only stores within the year. The first shop is slated for Newport Beach's Fashion Island. The second will be located in Los Angeles' The Grove at Farmer's Market.
DALLAS-In a Q1 2001 assessment, class-A office space is the only segment showing a positive absorption although its average rent has dipped a bit. Overall occupancy is 83%, up 4% from last year. The problem is 14 million sf of class-C space.
PASADENA, TX-Dallas-based Trammell Crow and Toronto-based Eastbourne Investments have kicked off a 250,000-sf retail project in the community of Pasadena. The center is already 75% leased with big name retailers.
PARSIPPANY, NJ-Sale price for the 256,750-sf complex amounts to $240 per sf, said to be a record for a suburban New Jersey office property. New York-based Benenson Capital Co. was the buyer.
ATLANTA-Dan Cathy, executive vice president of the 55-year-old chicken sandwich franchising company, has replaced retiring James L.S. Collins as president and chief operating officer of the privately held, locally based firm.