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TRENTON-AES Power Direct is pulling out of the New Jersey market, citing losses tied to rising energy costs. The move is considered a blow for the deregulated energy market here.
BRISBANE, CA-The locally based publisher of Business 2.0 magazine says it will remain here, on North Hill Drive, and is no longer negotiating an anchor tenancy in FuturePlex LLC's $200 million San Francisco office development that is under construction.
TAMPA, FL-The Jupiter, FL-based development and investment firm paid Dallas-based Archon Group $14.5 million for the 28-year-old, 85%-leased, 177,486-sf asset in Downtown Tampa, 80 miles west of Orlando. An adjacent five-acre, parking-lot parcel was also part of the deal.
ATLANTA-The 359-unit apartment project is going up in Brookwood, off 26th Street, at an estimated construction cost of $115,599 per unit. The rent range is $900 to $1,600 per month with penthouse space at $2,000-plus.
STAMFORD, CT-Troubles continue for Xerox Corp., which reported slightly higher losses than analysts had expected for the fourth quarter 2000 and a cost cutting program that will mean the loss of another 4,000 jobs.
SEATTLE, WA-With a serious energy crunch up and down the West Coast, power-saving rooftop gardens are beginning to garner attention. City officials here are placing them on two new government buildings and about a dozen older parking garages.
PORTLAND-The transfer of 8.3 million sf of industrial properties--all of the REIT's industrial properties in the Portland area and most of them in the San Francisco Bay area--will continue to close throughout 2001.
DENVER-The latest Grubb & Ellis report predicts this year will bring continued strong net absorption and an increase in new construction in the northeast industrial submarket. The call comes on the heels of two quarters with no construction completions in the submarket.
DENVER-Cherry Creek shopping center is looking to fill 24,000 sf that's been vacated by Rainforest Cafe. Everything had to go, including the fish and birds, to make way for the restaurateur's refocus on tourist-heavy markets.