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LOS ANGELES-A 59,616-sf retail complex changes hands in Lynwood, as a recent report says that retail spending in LA is higher than in most other areas of the nation.
DALLAS-David B. Deniger, co-founder of Olympus Real Estate Corp., officially has taken control of the operation. Tom Hicks, John Muse and five other Hicks, Muse, Tate & Furst partners are taking a back seat as Deniger guides the firm's future. Coming up is a West Coast office.
PHOENIX-With apartment demand strong and an increase in new development activity, a national commercial mortgage firm has opened a regional office in Phoenix.
RALEIGH, NC-The locally based institution reports earnings of $937,000 or 25 cents a share. Total assets are up 48%. Raleigh is 150 miles northeast of Downtown Charlotte.
MOUNTAIN VIEW, CA-One of the buildings, 1500 Crittenden Lane, is being sold to Goldman Sachs in a deal expected to close at the end of July. The second building, at 1401 N. Shoreline Blvd., totals 117,208 sf and lists at $41 million.
DENVER-The South Metro Denver Chamber of Commerce has just finished polling local business owners. Most are still bullish on the region's market. A whopping 64% are predicting revenue will rise despite a slowing economy.
MINNEAPOLIS-The restaurant chain recently raised $31.4 million to fund development. The restaurant chain opened seven new restaurants in the first quarter and two more so far this quarter. They expect to have 68 at year's end.
PHOENIX-A slowdown in construction and the economy combined are causing overall net absorption in industrial space in Phoenix to drop considerably off, compared with prior quarters, and pushed the overall vacancies up.
NEW YORK CITY-The 24-story property is used by the fashion industry for office and showroom space. SLG will retain an equity position in the property and expects to receive a gain of about $6 million.