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RICHFIELD, MN-The new $160-million, four-building corporate campus wins final governmental approval and Opus Northwest will start building despite pending lawsuits. Ground will be broken this summer.
CHICAGO-Julien J. Studley, Inc. predicts office rental rates could drop from 10% to 15% by late 2002 thanks to new developments coming on line. But one of those developers is generally optimistic considering the circumstances.
LOS ANGELES-A two-story, 50,000-sf office building in Carson changed hands recently for $3.4 million. The buyer, a manufacturer of computer scanners, plans to relocate its headquarters there.
LOS ANGELES-A Beverly Hills-based investor acquires a nine-building, 195-unit apartment portfolio in Playa del Rey. The buildings sold at a premium based on the rent potential and savings in management costs due to the close proximity of the properties.
SPOKANE, WA-To bring order to rampant growth in the region, after more than six years of work, the City of Spokane was successful this week in adopting a comprehensive plan, which promotes growth in 17 designated centers and corridors, including downtown.
SACRAMENTO-If approved by a federal court judge, a compromise between the Sacramento City Council, environmentalists and developers could reopen the Natomas basin to development this year.
MINNEAPOLIS-Chicago-based Equity Office Properties Trust expands its ready-to-work office space concept, where tenants can lease up to 2,000 sf for form a month to a year, to LaSalle Plaza in Downtown.
DALLAS-Cushman & Wakefield has promoted Elizabeth Trocchio to senior managing director in Dallas, a post that's been vacant for three months. Change is coming, she says. Retail, maybe an Austin office and uniting the Texas team are on the agenda.