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LYON TOWNSHIP, MI-The area could see a huge traffic build-up at the I-96 exit thanks to the westward population shift away from Detroit. The Kojaian Cos. wants to put more than 700,000-sf of retail space on 125 acres there.
EMERYVILLE, CA-The added supply is affecting rates. In Richmond, rates are $16 per sf or $17 per sf, down several dollars from the $24 per sf rate at the end of last year. In Emeryville, the market rate of $54 per sf has dropped to between $39 per sf and $45 per sf.
ORANGE COUNTY, CA-A limited partnership acquires a 38,237-sf office building in Fullerton, the latest sign that small investors have faith in the market even as institutional buyers pull back.
LOS ANGELES-California will reimburse the US EPA for cost of cleaning Riverside's Stringfellow waste dump and Santa Barbara's Casmalia Resources Facility. Acid from Stringfellow contaminated water supply, leading some to call it the 'Love Canal of the West.'
DENVER-After several years of double-digit increases, parking rates Downtown rise only 1.5%. Daily rates range from $10.44 in the Core area to $2.84 in the Northeast submarket, which actually saw an 8.7% decrease.
CLAREMONT, CA-The 75-unit complex stands at 510-522 S. Indian Hill Blvd. The seller was private investor David C. Cook. The buyer is a private partnership known as Indian Hill LLC.
ATLANTA-The fast-growing area begins to resemble sprawling Los Angeles. Future retail growth is shifting to more distant suburbs. The 1.2 million-sf Mall at Stonecrest will be the county's first major shopping mall when it opens next October.
LONDON-Skanska, the Anglo-Swedish construction giant, has sold its last two London investment properties at Thomas More Square, E1 and 55 King William Street, EC4 to AXA Sun Life. Both sites are fully let.
ORLANDO-Developers will be barred from erecting two or more houses, garage apartments and other small shelter projects on lots that don't have street frontage on two sides.
AUSTIN-Two, possible three, warehouse locations of Mrs. Baird's Bakery will be rolled into one site in southeast Austin. The shift will take place between June 1 and July 1 and will put the bakery's warehouse operations into a ProLogis holding.