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MINNEAPOLIS-The city council here agrees to sell land to Guthrie and build parking ramps at a cost of up to $25 million to support it. A similar measure failed to pass the city council last year.
NEW YORK CITY-The online full-service commercial real estate service has formed a partnering agreement with Univest, a service and technology solutions company for the industry. A spokesperson for MortgageRamp explains the agreement will mostly relate to sales staff.
WASHINGTON, DC-For the second time in five months, the Ritz-Carlton Kapalua is changing hands. Marriott International is selling the 548-key hotel to Capital Hotel Investments, a joint venture between Marriott and affiliates of Blackacre Capital Management.
DETROIT-Bloomfield Hills,MI firm is building telecommunication hotel complex in Southfield, MI. Lease rates will be between $17 psf and $19 psf , triple net, for 40,760-sf and 44,000-sf buildings in Southfield TechneCenter II.
PALO ALTO, CA-Members a local environmentalist group is fighting proposed development on Stanford University property that it claims will destroy the habitat of the California tiger salamander.
CHICAGO-Office Properties Trust President and Chief Executive Officer Timothy H. Callahan says, "This is probably the only time real estate has gone into a recession where supply and demand is in the balance that we currently have.
LOS ANGELES-A massive rehabilitation project, which entails the addition of 15,000 sf, has begun at Kilroy's office property in El Segundo. The REIT aims to reposition the 39-year-old office building as a Class A property.
SAN FRANCISCO-Equity Office Properties Trust promotes its managing director of leasing for its San Francisco portfolio to senior vice president for its newly created regional office here.
ORLANDO-The Ocala, FL-based general contractor has completed the second 55,000-sf, $1.92 million office phase of the Discovery Lake complex at Orlando's Central Florida Research Park.
ATLANTA-The locally based REIT reported Tuesday that FFO for the fourth quarter plunged 23.1% to $32.3 million, a decrease of $9.7 million compared to the same 1999 period.