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LOS ANGELES-A private investor has snapped up an 8.7-acre property in San Fernando that is currently leased to the home improvement retail giant Home Depot, as investors continue to look to big-box retail.
RALEIGH, NC-Wakefield Associates unveils the 185,000-sf Wakefield Plantation Sept. 1 at premium starting rents of $19 per sf. Outparcels at the 2,200-acre mixed-use venture are going for $4 per sf ($174,240 per acre) to $16 per sf ($696,960 per acre).
MIAMI-Developers of a proposed 26-story, 359-unit rental project in the exclusive Brickell Avenue submarket encountered substantial opposition ever since the project's debut two years ago. Density is the issue.
NEW YORK CITY-It was a squeaker, but Silverstein Properties has just overcome its last minute financial concerns to seal the 99-year lease on the World Trade Center. Silverstein's financial woes just a rumor, says one insider.
YORK TOWNSHIP, MI-Industrial developers will be sought for the property near the state's Center for Forensic Psychiatry. The extra acreage will be not needed for expansion of the hospital for mentally ill criminals.
NORTH MIAMI BEACH, FL-The locally based real estate investment trust reports a 17.2% increase in net income on a 21.3% rise in revenue from the 33 commercial properties its owns and 28 properties it manages. North Miami Beach is 11 miles north of Miami.
SEATTLE-The popular neighborhood grocery store at 8500 3rd Avenue N.--recently rumored to be in the clutches of the Portland-based Fred Meyer supermarket chain, which operates an adjacent location--will remain independent, at least for now.
CHICAGO-Performics, which provides pay-for-performance online customer acquisition and retention marketing, moves from 500 N. Michigan Ave. to 180 N. LaSalle St., where it is leasing 20,344 sf.
NEW YORK CITY-Buyers are fearful they will overpay if they make full-price offers, some brokers report in a Brown Harris Stevens study. The report says that the residential market peaked about a year ago.