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COLORADO SPRINGS, CO-A Denver investor has taken title to an 11-unit apartment complex in Colorado Springs. Chuyan Ngo has paid about $3.9 million, or $33,478 per unit, for a holding that would easily fetch $50,000 per unit in Denver.
WASHINGTON, DC-The Senate has passed a bill that would free landowners from having to clean up mildly contaminated sites that they did not pollute. The measure now goes to the House of Representatives.
MILWAUKIE, OR-GE Capital Corp., which acquired the 32,904-sf, 20-year-old building in the Freeman Industrial Park as part of its purchase of the J.C. Penney Credit Card portfolio in late 1999, is consolidating call center services elsewhere.
LOS ANGELES-A developer plans 900,000-sf mall in Pomona and an Eagle Rock center is sold for $8.3 million. New report by Grubb & Ellis credits SoCal's strength to relatively high consumer spending and other factors.
QUINCY, MA-Grossman's plan to improve a building here and erect a luxury apartment house have locals hoping that the addition of residential units as well as additional retail will revitalize Downtown.
HOUSTON-Yancey-Hausman has filled one office building at Northwest Crossing as construction continues on another 112,000-sf structure. Tenant Fircroft Inc. has doubled its lease to occupy a total 7,902 sf.
WHITE PLAINS-Officials with Newmark & Co. Real Estate say that Westchester County's office market is weathering the current overall economic slowdown and continues to see asking rents rise in early 2001.
PHOENIX-The struggling national economy placed enough doubt in the minds of office lessors during the first quarter that there was negative net absorption of space and the vacancy rate rose by one percentage point, according to a new survey.
THE WOODLANDS, TX-A series of land buys will add to the retail line-up at the College Park Shopping Center. The eight new retailers are coming to a high-traffic market that big boxes say is producing strong sales.
CUDAHY, WI-Freehold, NJ-based Monmouth Real Estate Investment Corp. buys a 114,123-sf industrial building in this Milwaukee suburb. The building is net-leased to FedEx Ground Package System, Inc. for 10 years.