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LOS ANGELES-The commercial real estate industry is embracing technology and online information services. However, GlobeSt.com's national editor, John Salustri, warns that survivors in the online information business will those offering products with real value to the industry.
SEATTLE, WA-In line with a recent announcement that it was leaving the resort and real estate business to concentrate on its primary business of timber, Pope Resources has a sale pending on its Port Ludlow Resort on the Olympic Peninsula.
DALLAS-Centex Homes, a single-family residential builder, is buying CityHomes, an upscale townhome developer in the most well-heeled Dallas neighborhoods. The deal is expected to close before early March.
COPPELL, TX-No one's talking about how much Teachers Insurance and Annuity Association has paid for the premier 735,000-sf Park West Commerce Center. But TIAA has outbid about 20 competitors for the hot property in Coppell.
OAKLAND, CA-The locally based mortgage company will go live with its commercial mortgage origination system Feb. 4. The web-based platform will act as an exchange between brokers, mortgage lenders and borrowers.
HOUSTON-United Investors Realty Trust is posting a 13-cent dividend per common share, a decrease from its prior shareholder earnings. CEO Robert Scharar says the decision woefully is necessary.
KANSAS CITY-Michael's Grill in the Waldo Shopping Center has closed, unable to continue after a sale and partial change in its name. However, the renovated shopping center has a new restaurant a few doors away.
KINGWOOD, TX-AMLI Residential has found a development mate in the New York State Common Retirement Fund. The fund is kicking in 75% of the $20 million needed to build a 300-unit multifamily project in Kingwood, a Houston suburb.
WOBURN, MA-In what could be an indication of upcoming trends, Endogen, Inc. subleases 20,060 sf of space to Australian-based Proteome. Endogen was recently acquired by a Swedish company, which restructured the biotech firm.
NEW YORK CITY-The Morgan Stanley REIT Index is down 0.9%, while the much pummeled Nasdaq returned a 12.1% gain year-to-date. Fourth quarter FFO is expected to be up thanks to healthy real estate fundamentals and strong internal growth.