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SEATTLE, WA-Industrial space is slowly being squeezed out of the greater Seattle area as escalating land prices fuel redevelopment. A Grubb & Ellis research report says this gentrification may foreshadow the demise of Seattle's industrial market.
SOUTH SAN FRANCISCO-Genentech will build an additional 288,000 sf of research and development buildings at its current site here on DNA Way thanks to a just signed deal with a New York-based pharmaceutical company.
DETROIT-The company president waits to hear from a union before deciding whether to send manufacturing operations out of the country. But the company will keep its headquarters and other operations based in Michigan.
PHOENIX-Belt tightening and higher home prices have paid off for retirement community developer Del Webb, which posted a 65% earnings increase over the prior year.
NEW YORK CITY-The owners of Brown Harris Stevens and Feathered Nest have purchased the Halstead Property Co. Born for this acquisition is BHS Halstead LLC, now the second largest residential real estate brokerage firm in Manhattan.
ROUND ROCK, TX-A California-based developer is introducing purchase and lease-to-buy options in the Austin area's commercial real estate market. Chandler Creek Business Park, which has broken ground, will serve as the pilot project.
ORLANDO-The Dallas-based builder is erecting Park Maitland Villas, a 70-unit, gated townhome community priced from the $130s to the $170s on Lake Howell Road in suburban Maitland, seven miles north of Downtown Orlando.
MONROE TWP., NJ-Distribution space, available as a sublet, is one of the few spaces of its size in an industrial market and geographical location that remains tight as a drum.
RICHFIELD, MN-Plans for a 1.5-million-sf complex have met community resistance and a business owner holdout. The Minneapolis Foundation will interview a number of civic officials and nonprofit leaders.
AUSTIN-The NAFTA Highway is a strong playing card when it comes to hawking space in the Austin-San Antonio corridor. NAI/Commercial Industrial Properties has signed two newcomers to interstate-positioned warehouse properties.