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ORANGE, CA-Grubb & Ellis forecast for 2001 says retail activity will slow, although demand will increase. Owners will seek a more creative mix of tenants. The housing crisis will worsen, with 12 units needed for every one produced.
EVERETT, MA-Gateway Center, a 609,141-sf shopping center here, is open for business. The center, developed by Ohio-based Developers Diversified Realty, is the company's second foray into the Massachusetts area.
HILLSBORO, OR-Walgreen Drug Stores has reportedly made a better offer for the property, but the city says it is prepared to expropriate the property for use as police station by using its power of eminent domain.
ASHBURN, VA-Beaumeade's 60,765 sf office building here is under construction. The $9-million high-tech project should be finished by May 2001 with lease rates of about $25 per sf full service.
WALNUT CREEK, CA-The high-speed Internet access spinoff of BRE Properties Inc. says it will halt expansion efforts and concentrate on existing subscribers in the multifamily apartment industry. The news pushed the company's stock price down 72% on Friday.