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CHICAGO-The REIT plans to keep its portfolio, already 6.25 years old on average, young in 2001 with targeted dispositions of older properties. Exceptions to that strategy may be found in this market, however.
SAN DIEGO-The Naval Training Center earns a state designation for closed military bases that paves the way for companies to secure sales, tax and hiring credits.
SEATTLE, WA-The extent of the company's cutbacks is currently undefined. Local experts, however, suspect it won't even be enough to make the 30-million sf CBD quiver. The super-low vacancy rates weren't 'normal,' anyway.
KANSAS CITY, KS-A new 150-room Hilton hotel will have an indoor pool, restaurant and 500-space parking garage. The $17-million project is being developed by the city and a private partnership.
LOS ANGELES-Insurer signs $50-million lease to move North American headquarters to Burbank Empire Center and will relocate there when the building is finished in the spring of 2002.
HOUSTON-New Orleans' Whitney Holding has made its first move in Houston, acquiring American Bank. More buyouts or at the very least, more branches, are in store for its Houston strategy.
DETROIT-Dennis Archer says development will continue not only in a Downtown area that was a "ghost town" a decade ago, but in the city's neighborhoods, where $11 million has been poured into parks.
DALLAS-Two franchise pacts will add 12 Cinnabon's in the Dallas-Ft. Worth region and six in Austin-San Antonio. The sites have not been determined, but the deals have been signed. Now, it's time to look for the space.
HOUSTON-Greenspoint Technology Center's comeback from a failing retail power center into a telecom hotel has just netted the owner more than $30 million. Yale USA Investment Corp. has taken title to the 300,699-sf structure.