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CHARLOTTE-The Charlotte Region Commercial Board of Realtors disagrees with industry reports predicting the office market here could be overbuilding but agrees the apartment sector is saturated.
ORLANDO-The highest and best use for Ben White Raceway, sitting on a strategic corner in the city's industrial northwest sector for 50 years, is now as a city recreational facility and possibly as an equestrian training area for non-profit groups.
ORLANDO-The entrepreneur's Equity Residential Property Trust sold the nine-year-old to 14-year-old assets in Tallahassee, FL to Community Builders Inc. for an average $44,261 per unit.
SANTA CLARA, CA-Kaiser Permanente has begun construction on the Silicon Valley's newest medical facility, a 1.5 million-sf complex that will cover 50 acres near the intersection of the Lawrence Expressway and Homestead Road.
INDIANAPOLIS-Following the success of its recent $789-million industrial property joint venture, the giant office and industrial REIT is scouting partners for a similar office property joint venture.
NEW YORK CITY-European Credit Suisse with American headquarters here, is facing a lawsuit in US District Court in North Dakota. RDO alleges that Credit Suisse conspired with John Deere to thwart RDO's business efforts.
NEW YORK CITY-Mass Mutual, which foreclosed on the property a few years ago, decided to take a profit. More than half the building's leases will roll over during the next two years. About half of the pre-war structure's offices are occupied by Prada, a high-end clothing retailer.
DALLAS-Harwood International now counts Buckingham Palace as its neighbor, buying a 73,000-sf office project close to the royal residence. Rolex Watch Co., one of Harwood's Dallas tenants, is knighted as lead tenant.
AUSTIN-Prentiss Properties is adding 222,835 sf to Austin's market, but there's no room at the inn since it had been fully leased before yesterday's ground-breaking. The project gives Prentiss 850,000 sf in in a submarket with a 0.4% office vacancy.