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DALLAS-GMAC Commercial Mortgage is on a roll, closing on back-to-back buys in Memphis and Phoenix. The buyout of Phoenix-based Keystone Mortgage Partners, which has its only servicing center in Dallas, is a bid for a stronger presence in the southwest.
DANVERS, MA-Developers buy the former Osram Sylvania manufacturing facility here for $5.6 million, joining the Cummings Center and the Tower of Northwoods, demonstrating that the North Shore is becoming a business address.
ST. PAUL, MN-The Port will follow one "busy year" with another. The River Bend and Great Northern business centers are already on tap for this year but the Port is also considering the proposed Phalen Westminster.
LOS ANGELES-While vacancies in some other Westside buildings rise, a development in Culver City lands three new tenants and now is almost fully leased.
PORTLAND-Every year <i>Money</i> magazine publishes its list of the 10 best places in the country to live. This year, Portland is at the top of the list. The city's attention to managing growth and preserving green space is what set it apart.
SPOKANE, WA-The big box discount retailer opened a brand new store here last week on company-owned property. The rub is that Costco is stuck paying the rent on its former 129,600-sf location, and it's willing to deal.
ORANGE COUNTY-A Newport Beach-based developer has acquired the 237,369-sf San Juan Capistrano Business Park for $22.7 million. The new owner may sell off some of the complex's 16 buildings.
SAN FRANCISCO-The on-line project management firm for builders and property owners has acquired Madison Real Estate Technologies and unveiled a new application for lending institutions.
NEW YORK CITY-The REITs existing buyback program of $10 million has been revised to acquire up to an additional $10 million. The decision was made despite the firm's awareness that the capital could have been otherwise deployed.