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WASHINGTON, DC-Dipping consumer confidence has led most retail real estate companies to lower expectations this year, but an analyst says because of long-term leases, most are somewhat buffered by lagging retail sales.
HOUSTON-When NASA's a client, it's best to stay close is the thinking behind a lease renewal for 1331 Gemini in Clear Lake. John Frassanito & Associates, an industrial design firm, has renewed its 2,444-sf spot, where it has officed for the past four years.
DENVER-Tabor Center has signed the eatery, Big Bowl, to a spot on the complex's east block. Four of town's more unique restaurants are ticketed for the center, now in the midst of a $25-million overhaul.
PALM BEACH, FL-The locally based investment group advises shareholders of ongoing discussions over terms on at least one of the seven hotels Wyndham International leases as a Summerfield brand. Wyndham couldn't be reached for comment. Palm Beach is 64 miles north of Miami.
STAMFORD, CT-Although the fate of the economy is anyone's guess at the moment, Cory R. Gubner, president of Chase Commercial Real Estate/TCN Worldwide, believes the Fairfield County office market will remain strong this year.
SAN FRANCISCO-Partners Sagamore Equities and Citigroup are expected to close soon on the acquisition, a 110,000-sf office building at 74 New Montgomery St. owned by Levin Menzies Kelly and Associates and anchored by the University of California at San Francisco.
ATLANTA-The 29-year-old, locally based insurance broker will operate as a subsidiary of Wachovia Bank which has dual headquarters in Atlanta and Winston-Salem, NC. Terms of the deal were not disclosed.
SPOKANE, WA-The new 120,000-sf shipping facility would allow FedEx to consolidate existing operations and dovetail into Spokane International Airport's plans to spend $6 million for the construction of a new shipping apron and improved taxiway.
DALLAS-In an ongoing personnel shift, three more changes come down the pike for the region. The Weitzman Group and Wyndham International have implemented upper-level promotions while The Industrial Group has brought on board a new tenant rep.
WASHINGTON, DC-Saying that new construction of federally insured affordable rental housing has all but disappeared, the Coalition for Affordable Rental Housing is urging Congress to increase FHA insurance.