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ORLANDO-Banks outsourcing certain elements of the commercial real estate business would be the solution for both disciplines, John M. Crossman, senior vice president and director of retail services, Orlando division, Trammell Crow Co., tells GlobeSt.com.
ATLANTA-After purchasing 1,636 units in five buildings for $76.4 million ($46,669 per unit) in 2000, the investment arm of locally based Lane Co. has closed on two new assets totaling 488 units for $26.16 million or an average $53,607 per unit.
HOUSTON-Another California tech company has found its way to Houston. Endymion Systems is taking 5,422 sf at a Galleria building. The firm, based in Oakland, also has offices in Seattle and Irvine, CA.
NEW YORK CITY-One of the properties is a townhouse complex that was acquired for $5.4 million; the other is a 17-story rental that was bought for $12.7 million.
PORTLAND-This time last year, Equity Office Property's 22-story, 363,000-sf Downtown office building was at 80% occupancy. Today, a $2.3-million lobby renovation is underway and occupancy, at 88%, is on its way to 95% if leases under negotiation are signed.
BLOOMFIELD HILLS, MI-The brokerage firm moves almost $25 million worth of multifamily complexes in three months, including two deals each in Grand Rapids and Lansing. The 176-unit Hidden Valley Apartments sell for $10.9-million.
PHOENIX-City leaders in the suburb of Surprise consider deal to build a $45-million spring training facility for the two baseball teams, both of which currently train in Florida.
COLUMBIA, SC-The state grows more than 15% in the 1990s, topping four million in population, the latest U.S. Census shows. Beaufort County, home of resort-laden Hilton Head Island, grew the most at 40%.
BOSTON-Colliers International, based here, indicates that despite steady declines in office vacancies and increases in office rental rates, a number of economic problems have surfaced that could lead to a sluggish performance this year.
MONTICELLO, NY-A plan by gaming giant Park Place Entertainment Corp. to build a $500 million resort/casino in Sullivan County has passed a key milestone. An application has been field with Indian Affairs.