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CEDAR KNOLLS, NJ-New owner will refurbish and reposition the former B.F. Goodrich Building for multi-tenants, while a Goodrich division will continue to occupy space. The sale price was not available from the brokers.
CHICAGO-The REIT based here has agreed to sell its portfolio of primarily office and industrial properties to privately held Denholtz Associates. The 3.6 million-sf portfolio's most recent vacancy rate was 16%.
PHOENIX-After listening to weekend presentations, East Valley proponents believe that a site in Tempe is the odds-on favorite to be selected as the site for a new $335-million stadium for the Arizona Cardinals.
WASHINGTON, DC-Marriott International Inc.'s fixed income investors learned, on Jan. 8, that the future looks good for the hospitality company. The revenue per available room is expected to increase up to 7.5%.
SAN DIEGO-Corporate headquarters in Poway for Home Depot units clears design stages. The 154,000-sf first phase offices, distribution center and amenities for employees.
HOUSTON-The Woodlands' newest shopping venue is holding a grand opening Feb. 17 in conjunction with Arbor Day. The neighborhood center is located at the intersection of Woodlands Parkway and Kuykendahl.
SAN FRANCISCO-The locally-based apartment REIT announces a $250-million offering of senior unsecured notes under its existing shelf registration statement. The proceeds will go toward repaying amounts outstanding under the company's unsecured credit facility, and for general corporate purposes.
SAN FRANCISCO-The 2001 forecast report predicts that real estate market fundamentals will remain healthy in the next 12 to 18 months, although increased risk exists due to the economic slowdown and corrections in the technology and dot-com sectors.
NEW YORK CITY-During Mayor Giuliani's parting State of the City Address delivered in City Hall last night, he gave a sweeping vision of new construction projects to come in every borough of the city.
NEW YORK CITY-Cushman & Wakefield, based here, has signed a letter of intent with the Atlanta-based company, The Apartment Group. The two companies will merge their multifamily brokerage operations.