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LOS ANGELES-Locally based LCOR plans to build $80-million Westside center with a Costco at street level and Home Depot 'stacked on top. Planning Commission gives its blessing after builder agrees to more concessions.
AUSTIN-Digital Archway, a Mountain View, CA-based high-tech firm, has moved its development center into a 4,200-sf spot at Synergy Plaza. Digital has slid into space as a result of another firm's downsizing.
ORLANDO-The 13th annual report by the New York-based real estate valuation and consulting firm calls Orlando and Las Vegas "the best-loved tourist destinations in the nation.
TROY, MI-The new mayor doesn't want to provide free land and the city council agrees to discuss its options in closed session. The plans were to lease 1 acre of city-owned land to the museum for $1 a year.
DENVER-Mayor Wellington Webb is going against his own task force, created to weigh the fate of the city's Winter Park ski resort. Many task force members are crying "sell," but the mayor instead is seeking a joint venture operating partner.
DODGE CITY AND MANHATTAN, KS-The new banking company will have assets of nearly $400 million, with 12 branches in eight counties. Larry Schugart and Patrick L. Alexander will hold down the top posts in the new company.
LOS ANGELES-As many of the Southland's cities are pushing for urban redevelopment, CalSTRS has joined CalPERS in committing funds to the California Urban Real Estate Fund, an investment fund managed by Hollywood-based CIM Group LLC.
ATLANTA-The local office of Chicago-based Equity Office Properties Trust is partnering with Phillips Consumer Electronics of The Netherlands to raise the money for the Boys & Girls Clubs of Metro Atlanta.
HOUSTON-The upscale Decorative Center of Houston has a new owner, New York-based Cohen Realty, which also has centers in its homeport and Los Angeles. The sales price is hushed, but the property had been marketed at $113 per sf.
NEW YORK CITY-Overall, the prices of apartments rose 11% during the first quarter compared to 4Q 2000. Luxury units in Midtown declined dramatically, however, falling 44% compared to late last year.