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STAMFORD, CT-GE Capital, based here, is the financial services unit of General Electric & Co., based in Fairfield, CT. It has signed a Letter of Intent with Finova's creditors to aid Finova in its bankruptcy restructuring.
SEATTLE, WA-Some referred to the real estate market during most of 2000 as a vacation in Disneyland. This year they call it Las Vegas, as the battered market appears no more predictable than a roll of the dice.
AUSTIN-Research and development in Austin might have to take a back seat to logistics and distribution in a few years. Lots of land and proponents hope to turn the corridor into an L&D hub, a potential bolstered by cargo capability expansion at the airport.
PHOENIX-Cachet Homes has snagged eight acres in the 44th Street Corridor, paying about $3.5 million. A 120-unit condo project will be replacing a now-razed retail center in west Phoenix. The site has been bought from Concord Equities.
HOUSTON-Cockrell Oil Corp. and Ocean Energy Inc. have found takers for some of their excess office space in the CBD. Pure Resources will move into 1600 Smith St. and AEP Energy heads to Louisiana Place.
DALLAS-May's foreclosure postings could be a fluke and could be a quasi-warning sign. There are 58% more postings, more variety and better locations. One of more unusual properties is a high-security defense research site in Ft. Worth.
AUGUSTA, GA-Bank of America, SouthTrust Mortgage Corp., the city of Augusta and Augusta Neighborhood Improvement Corp. are offering a financial incentive program to buyers to revitalize the low-income Laney-Walker community. Augusta is 150 miles east of Downtown Atlanta.
CHICAGO-Cohen Financial's industrial real estate venture acquires a 156,000-sf multi-tenant building in southwest suburban Bedford Park as well as an 85,500-sf distribution building in west suburban Itasca.
DALLAS-Once again, Dallas County's industrial market proving to be the heavy hitter in absorption and occupancy. More than 3.7 million sf has been absorbed in DFWRealsmart.com's Q1 tally while warehouse occupancy is 90% and flex-office, 91%.
HOUSTON-Crescent has a new tenant at its Three Westlake Park, a 414,206-sf building in the city's Energy Corridor. The oil company is taking 88,068 sf and joining tenants such as Exxon Mobil and Murphy Oil.