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REDMOND, WA-The last of Metzler North America's $107 million, four-building development here is open. Begun in 1999 and built in two phases, the project is occupied entirely by locally based Microsoft Corp.
PHOENIX-In what is a sure sign that Downtown still lacks enough round-the-clock residents to be vibrant, a Downtown mixed-use development plans to begin converting more than 50,000-sf of retail space into offices.
OLATHE, KS-A bank branch opens in Olathe, with another to follow in Lenexa, KS. The name of the bank was changed to United Bank of Kansas and a loan production office was opened here.
ORANGE COUNTY, CA-The company will close all 109 of its stores, including five here and 17 others across the state. About 40 OC workers will lose their jobs.
ATLANTA-The 23-story, 527,000-sf Midtown tower opens in March. William Carter Co. is taking 60,000 sf on a seven-year to 10-year lease with an estimated aggregate rent value of $12.5 million.
BONITA SPRINGS, FL-The locally based developer of multi-story luxury shelter selects Michael Saunders & Co. to sell 76 condominium units in a planned 17-story high-rise next to the Ritz Carlton Sarasota. Bonita Springs ix 120 miles west of Downtown Miami.
SAN FRANCISCO-Four of the five developers fighting for the right to build office space here have submitted supplemental information packets highlighting additional commitments they will make if chosen.
JACKSON, MS- EastGroup Properties Inc. boosted funds from operations in the last three months of 2000 by 14.5% to $12.6 million from $11 million in the same 1999 period. For the year ended Dec. 31, the publicly traded firm's FFO increased by 20.7% to $47.8 million versus $39.6 million for the prior year. EastGroup is hosting a conference call at 2 p.m. today.
NEW YORK CITY-Few in business describe today's climate as "recession," nor will most say one is coming, but they do agree times are tough and likely to get worse before they get better.
BOSTON-Reports that the $100-million budget overrun on the $750-million South Boston convention center here could have been evident earlier has prompted local politicians to call for an investigation into the project.