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LOS ANGELES-Developers Diversified gets 15-month extension on long-stalled project, a cornerstone of Long Beach's efforts to become a tourist destination. Only two months ago, City Council talked of dissolving its contract.
CONCORD, NC-The suburban Charlotte marketer/promoter, which owns and operates six auto race tracks encompassing an estimated one million sf of industrial space, crossed the fiscal 2000 finish line in high-flying fashion with record profit and sales.
LOS ANGELES-While other movie houses are falling prey to bankruptcy, a 106,000-sf cinema will open this summer at the Westside's Promenade at Howard Hughes Center.
WALNUT CREEK, CA-The discount book retailer is closing 28 stores nationwide following this week's filing for protection under Chapter 11 of the U.S. Bankruptcy Code thanks to a floundering holiday season and a generally poor retail environment.
AUSTIN-Schlotzsky's is looking to beef up its 21-restaurant Austin portfolio. The expansion plan comes with the news that its Sunset Valley eatery has broken a sales record for a 3,200-sf freestanding operation.
HOUSTON-Through the generosity of the real estate community and a $2.2-million fundraising, Sugar Land now has a 17,000-sf women's shelter. Nearly a dozen of professional builders and suppliers have kicked in services and materials for the project, which has just wrapped up.
WHITE PLAINS-Two noted economists told commercial brokers that while the economy is definitely slowing down, a recession is unlikely this year. In fact, both predicted the economy will pick up by the second half of this year.
MIAMI LAKES, FL-The maker of small tools and materials signs a six -year lease for 18,632 sf at an estimated value of $1.03 million. The tenant now occupies a total 37,105 sf at the park, 11 miles north of Downtown Miami.
NEW YORK CITY-This signing brings occupancy in the 324,000-sf property to more than 50%. Cushman& Wakefield expect to lease up 10% of what's left before the building opens in the next 45 days.