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NEW YORK CITY-Round Two of negotiations for the Downtown mega-complex gear up. But an inside source isn't placing bets on this bidder either. Meanwhile, the Boston Properties JV waits in the wings.
STAMFORD, CT-The bearish attitude pervading Wall Street has crept into the psyches of many in commercial real estate here. Some even wonder if the hard times of the early 1990s will once again plague the Connecticut Gold Coast.
LOS ANGELES-Building giants Equity Residential, KB Home reach pact that will give Equity's apartment tenants a 20% rental credit toward purchasing a KB house. The agreement is aimed at keeping Equity's occupancy rates high, while boosting KB Home's sales.
STAMFORD, CT-umedik Inc., a diagnostic technology developer, reports it has opened a new 18,000 sf Product Centre in Toronto. The firm is headquartered here and currently has another technology center in Toronto.
SAN FRANCISCO-In the largest local deal to date for the firm, Cohen secured $45 million in equity from an institutional investor for Bernal Office Park, a 745,000sf office complex in Pleasanton.
FULLERTON, CA-Guthrie Development, which currently has five projects under way throughout Orange County, has purchased a 80,288-sf office/industrial park.
ALAMEDA, CA-Two advocacy groups that filed lawsuits last year against the city over environmental and housing issues at the former Alameda Fleet Industrial Supply Center have settled out of court.
NEW YORK CITY-Harlem, Manhattan's historical and cultural mecca for African Americans, may be losing the population that made it famous, perhaps because of renewed interest in the area by developers driving rental rates higher.
SEATTLE, WA-In the Puget Sound, the aircraft manufacturer has hired Trammell Crow to sell off 240 acres in Renton as a business park as well as several dozen acres in Everett that hold two office buildings and an industrial building.