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CHICAGO- Standard & Poor's affirms its BBB corporate credit rating on First Industrial Realty Trust Inc., adding its results have improved since refocusing on 23 of the top 25 US markets.
SEATTLE-David Laird, the company's new vice president of asset management, is part of the original investment advisory group that joined Unico in 1996. He has been instrumental in all of Unico's acquisitions.
DENVER-Denver-based REITs have made a strong showing in the first quarter, particularly those with real estate holdings. Black Hawk Gaming and AmeriVest Properties hold lead positions for stockholder returns.
PORTLAND-Time Equities and William Felton Assoc. closed recently on 623,000 sf worth of Class A office, flex-industrial and retail space in Northwest Oregon and Southwest Washington for $45.4 million. The seller was ASA Properties of Honolulu.
DETROIT-The city is cited by BusinessWeek for $17 billion in economic growth either underway or on the drawing board, plus Mayor Dennis W. Archer's more regional view toward luring businesses to the area.
LYNNWOOD, WA-The medical center is opening a new clinic in a new building being developed near the Alderwood Mall by First Western Development Services of Edmonds, WA. Completion is set for early next year.
WASHINGTON, DC-An initiative by the Congressional Black Caucus to increase home ownership rates announced this week has the backing of a wide group of real estate groups.
HOUSTON-A Houston investor has acquired a 9,792-sf building near Sharpstown Mall, where plans are afoot to open a cosmetology school. There's a growing trend to buy instead of lease commercial sites in the small office market.
ORANGE COUNTY, CA-Samson Motorcycle Products has purchased the space it has occupied for the past year as a tenant. Alton-Morgan Ltd. buys building occupied by electronics wholesaler as an investment.
DALLAS-A 41-year-old apartment complex has brought in close to $5 million for its San Diego-based private investor. The repositioning through renovation is the real story, says a broker. More than $600,000 is being spent.