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DALY CITY, CA-John Daly Boulevard Associates LP of San Francisco is planning some new acquisitions this week after financing three apartment properties here to the tune of $63.75 million through Capri Capital Finance LLC.
BREA, CA-A June ground-breaking is scheduled for the $35-million Voit Brea Business Park. The developers say it will be the largest speculative industrial park to rise in Orange County in several years.
CARLSBAD, CA-The first retail project to be developed in the vicinity of the Carlsbad Research Center is nearly fully leased as retailers rush to be near the area's job clusters. Developer Lichter Venture Group is marketing the last two spaces in the Caribbean-themed center.
NEW YORK CITY-Concerned citizens of Hell's Kitchen are fighting the development of a tower above the historic Biltmore Theatre. The proposal is now in the Uniform Land Use Review Procedure phase.
JERSEY CITY-Lincoln Property Co. and Equity Residential are teaming up for two new projects that will cost more than $100 million to build over the next two years.
BOSTON-The Spring/Summer REIT Report put out by AEW Capital Management LP, a locally-based real estate investment advisory firm, indicates that REITs will outperform most areas of the equity market over the next 12 to 18 months.
AUSTIN-Brokers differ on the city's state of affairs. And the subject is nearly as sensitive between friends as politics and religion. But the city's not alone in negative net absorption in Q1, says Boston-based Torto Wheaton research.
OAK BROOK, IL-Great Lakes REIT posts a 7.7% increase in first-quarter funds from operations in spite of three vacancy-plagued properties. The office buildings are in the East-West Corridor, north suburbs and northwest Milwaukee.
JACKSON, MI-The largest utility in the state needs a new building to hold more employees and new Internet lines, the company says. A $70-million project keeps Consumers Energy in this city's Downtown.
DENVER-Area apartment vacancy rates fell to 4.5% in the first quarter from 4.7% in the fourth quarter. But the decline can't be pinned entirely on renters leaving apartments for single-family homes.