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SAN CLEMENTE, CA-Two private family trusts, one local and the other in nearby Newport Beach, put together this transaction for an 11-unit complex before the property could be advertised as available.
WASHINGTON, DC-MeriStar Hospitality Corporation posted strong results for the last quarter as well as the year 2000. Earnings improved 5.7% to $79.3 million while revenues increased 6.9% to $341.1 Mil with a 72.2% occupancy rate.
CHICAGO-Whitehall Funds puts the REIT in charge of managing, leasing and marketing malls in 12 states with approximately 8 million sf of gross leasable space. Among the properties is the Brickyard Mall on the Northwest Side.
DETROIT-It may not be Silicon Valley, but Digital Detroit wants the region to have a name for its high-tech area. It is offering a Palm Pilot to the person who comes up with the best moniker by Feb. 24.
TRENTON-DiFrancesco shepherded the bill, which benefits "S" corporations, through the legislature with former Gov. Whitman's support, and in his new role gets to sign it into law. More tax cuts said to be on the way.
OAK BROOK, IL-The Great Lakes REIT saw its overall vacancy rate rise to 8.1% in the fourth quarter, up from 6.7%. One of the REIT's biggest occupancy problems is 148,514-sf Lisle Executive Center, 28% vacant.
FT. WORTH-Crescent Real Estate Equities hires one and promotes another to executive vice presidents. Effective Feb. 20, Jane Mody will assume the role for the capital markets division while David Dean immediately moves up the ladder in the law and administration department.
FREMONT, CA-Digital Fountain, which uses a Web-based platform to combine the Internet with television capabilities, says it will relocate operations here from San Francisco.
HUNTERSVILLE, NC-Construction is under way on a 50,000-sf structure at Fenton Circle, a 9.7-acre business park located about 20 miles north of Downtown Charlotte. The structure is the second of three office properties planned by Charlotte-based Lord Baltimore Properties.