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NEW YORK CITY-Multifamily housing offers the most promise, thanks to baby boomers and echo boomers, the industrial market appears stable but the lodging industry, with lots of product in the pipeline, may suffer a setback as the economy slows.
DENVER-Nortel Networks will occupy 83,000 sf in Peakview Tower, the city's newest class-A office project. More deals are expected to break soon, with all eyes on a 50% occupancy level by week's end for the $40-million tower.
HOUSTON-A Philadelphia-based hotel repositioning specialist now owns the Houston Galleria Red Lion. The $20-million deal is mortared with a short-term franchise agreement with Hilton calling for a shutdown in late spring for a complete overhaul.
CHICAGO-Equity Office Properties Trust launches its FastOffice concept in 10 markets including Chicago, while dotspot, inc., will launch its first high-tech facility at 1 N. Dearborn St. Feb. 12.
NEW YORK CITY-In an exclusive interview with GlobeSt.com, David Wine of Related explains the marketing strategy for the condo section of the AOL Time Warner Center, expected to go on the market in the next 30 to 45 days.
CARLSBAD-A new 116,375-sf retail project adjacent to the Promenade Mall in Temecula is being marketed by the local office of Colliers International. This is one of hottest retail markets in Southern California.
CITY OF INDUSTRY, CA-As LA's industrial market continues to tighten, a local investment company has acquired a 164,760-sf industrial building in the City of Industry's Plantation business park.
BREMERTON, WA-Compared to other Walgreens properties in Puget Sound, this new store is being offered at far less than similar stores leased by Walgreens on Puget Sound.
MINNEAPOLIS-The deal is required by Firstar's pending merger with U.S. Bancorp. Firstar and U.S. Bancorp. will have about 90 branch offices in the Twin Cities once its merger is completed in the second quarter of this year.
DENVER-The Northland/Marquette Capital Group team has put together more than $20 million in permanent financing for five clients. The largest signing is finalized for a 48-year-old shopping center in Denver.