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WASHINGTON, DC-What can $200 million buy in the District and surrounding metropolitan areas? A top-of-the line retail portfolio totaling 460,000 sf. Grosvenor is forking over the funds to a handful of Starwood Urban LLC subsidiaries in exchange for the 15-property portfolio, which also includes a hotel and some office space.
PHOENIX-The multiphase redevelopment, including an exterior redesign, begins after the calendar flips and will continue through late 2006. Owner Westcor is still hashing out the final cost to redress the 98%-leased center.
TUSTIN, CA-The Newport Beach-based development and investment firm starts work on a speculative industrial building here and four others in Norco in the Inland Empire.
GRAPEVINE, TX-Developer and owner AMB Property Corp. trips the green light on a two-building final phase to its 65-acre Northfield Distribution Center. A 108,640-sf, class A office/warehouse leads the build-out, but the second structure's not far behind.
ATLANTA-The Downtown 12-story, 140-room Hotel Indigo at 683 Peachtree St. NE starts taking reservations Nov. 1 for rooms priced at about $100 per night. The London-based hotelier plans to open a second Hotel Indigo in Chicago in March.
SEATTLE-The Toronto-based luxury hotel operator cuts a deal with Seattle Hotel Group LLC to operate a proposed $110-million 21-story hotel and condominium tower at First Avenue and Union Street in Downtown.
LAS VEGAS-The city council signs off on the disposition and development agreement with a San Diego-based firm for a full-block residential project in the city's downtown redevelopment district that will include live-work units and 10,000 sf of traditional retail space.