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CHICAGO-Jackson, MS-based Parkway Properties, Inc. agrees to buy 233 N. Michigan Ave. for $173.5 million, the highest price paid for a Downtown office building in 2001. March First holds 13% of the space.
ORLANDO-Robert W. Miller, senior vice president, CB Richard Ellis Inc., Orlando, says deals are being done faster using the Internet but they are not closing in cyberspace. Michael Heidrich, a vice president at Realvest Partners Inc., flatly rules out Web deals.
TUCSON-Office development is definitely on the upswing in Tucson, but it's not the garden-variety of years past. Campus designs of five to 15 buildings are the hot looks, with nearly 600,000 sf in the works.
BOCA RATON, FL-Moody's Investors Services says its rating on locally based SBA Telecommunications Inc. reflects the company's modest capital structure and the significant tangible asset coverage available to the lenders.
MIAMI-The locally based Spanish-language radio broadcaster is issuing new senior subordinated debt, payable at 9 5/8%, to help finance an aggressive acquisition strategy.
DENTON, TX-Years of waiting draw to a close as a Virginia-based developer kicks off an 80,000-sf build-to-suit project for a FEMA Processing Center. The 11 1/2-acre development upon completion in April 2002 brings a consolidation of two Denton sites.
FARMINGTON HILLS, MI-A three-story 180,000-sf speculation office building planned is for the Farmington Hills Corporate Center on an 11-acre site once slated for a Bank One administrative facility.
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.
LOUISVILLE, CO-Avista Adventist Hospital will grow to 170,000 sf from 100,000 sf as a result of a $32-million expansion project on its hospital campus in this growing city near Boulder.
DETROIT-A Business Success Celebration is held to honor the state's ability to retain and recruit facilities. Ford, General Motors and Target are among the corporate award recipients.