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DETROIT-Bank One ranks the Motor City as one of nation's suffering markets for sales and new home construction. The bank's report explains the Motor City is hurt by downsizing in the automotive sector.
CORPUS CHRISTI, TX-SSP Partners has taken over the Tex-Mart Food Store chain amid plans for an expansion. The beef up will come in south Texas. which is perceived as the strongest emerging market.
KANSAS CITY, NORTH, MO-Renovations to the tune of $15 million have been done since last year's purchase for $33.5 million. There still is talk as to whether a 200-room hotel will be built on the site.
DENVER-The Pauls Corp. has struck a deal with First Century to share development duties of an office-loft project in the city's lower Downtown. The deal puts to rest local speculation that the undertaking had died.
ORANGE COUNTY, CA-Industry experts say the need for affordable, multifamily housing is still outpacing new construction. That's because few large complexes are being built.
LOS ANGELES-The broker-turned-developer was responsible for several successful projects, particularly in the San Fernando Valley. His $100-million the Plant in Van Nuys is credited with reinvigorating the once-declining neighborhood.
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.
CHICAGO-AMLI Residential says it has stabilized two apartment complexes. Occupancy is 94% at 352-unit AMLI at Park Bridge in north Fulton County and 92% at 276-unit AMLI at Castle Creek in Indianapolis.
ARDEN HILLS, MN-The medical devices company bought the 640,000-sf Arden Hills Technology Center in the expectation it will eventually grow into it with production of a new device that is able to resynchronize the heart.