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LOS ANGELES-Equity Office agrees to pay $28 million for a key parcel inside the controversial project, the biggest in-fill development in LA history. Whether the project can be completed is anyone's guess.
HANOVER TWP., NJ-Blanchard goes into the ground for another 150,000 sf of office space, replacing an aging office/warehouse complex the company built back in the 1950s. The property is adjacent to the Morristown Municipal Airport.
LANSING, MI-Gov. Engler: Michigan has reached settlement with tribe on casino in Marquette. The tribe will pay 8% of gambling revenues to the Michigan Economic Development Corp. to support projects that benefit the entire state.
SAN JOSE-The hope of the Valley Transportation Authority's project is that the likelihood of accidents will be decreased, and commuting over the improved 12-mile stretch of freeway will be less of a hassle.
SAN FRANCISCO-In an effort to cut expenses after the failure of an $800 million merger with Verizon Communications, NorthPoint Communications Group Inc. slashes 19% of its workforce and contemplates its leasing options in San Francisco and Emeryville.
NEW YORK CITY-Since it was sold in 1996, the price of the office building at 45 West 45th St. has risen more than 125% and rents have more than doubled.
ORLANDO-Locally-based CNL Hospitality Corp. pays Marriott International Inc. $94,545 per room for the 1,100-room package at the fast-developing 300-acre, master-planned community near Walt Disney World.
HANOVER TWP., NJ-Blanchard goes into the ground for another 150,000 sf of office space, replacing an aging office/warehouse complex the company built back in the 1950s. The property is adjacent to the Morristown Municipal Airport.