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CHARLOTTE-Capitalizing on the local labor pool, the local division of Palo Alto, CA-based Electric Power Research Institute plans to break ground in the first quarter on an addition to its 102,000-sf building from where it has operated for the past 20 years.
WALNUT CREEK, CA-The mixed-use project would be called Olympic Place and be located on the block bordered by Mt. Diablo Boulevard, California Boulevard, Olympic Boulevard and Locust Street. The project requires only Design Review Commission approval.
AUSTIN-City officials will pay $6.9 million to Stratus Properties, bringing its Circle C infrastructure reimbursement settlement to $17.4 million. The city had paid $10.5 million in 1999. In exchange, Stratus will be dropping its lawsuit against Austin.
FRANKLIN PARK, IL-An industrial site, long used for making steel products, is slated for redevelopment as a retail property. The asking price was $3.15 million.
WHITE PLAINS-GHP Office Realty of Scarsdale, the owner of Red Oak Corporate Park here, reports it has secured five lease deals totaling nearly 60,000 sf of space at the complex that is now fully occupied.
SEATTLE, WA-While Spieker is expecting a slight pause in the market, overall the REIT remains optimistic and will continue its focus on investments here, particularly on the Eastside.
KINGSTON, NY-A California-based semiconductor firm has leased approximately 27,000 sf of space at the Tech City complex in Kingston and has promised to create as many as 275 jobs in the next five years.
NORTH MIAMI, FL.-Locally-based 5th Avenue Channel Corp. is selling three million shares of its Nasdaq-traded stock to Brezenet Inc., its licensee in Italy, in exchange for $3 million worth of foreign commercial real estate assets. The deal is expected to close by year end.
SAN ANTONIO-Orbis On-line is getting kudos from San Antonio city officials, whose on-line posting for goods has prompted suppliers' quotes nationwide. San Antonio's procurement needs had served as a pilot project for the company.