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NEW YORK CITY-TIAA-CREF paid about $70 million for the property more 20 years ago and sold it for $375 million. Leases for three-quarters of the tenants will expire within five years.
GREENWICH, CT-Urstadt Biddle Properties Inc., a retail REIT, reported a slight increase in funds from operations for fiscal year 2000 and a drop in net income due mainly to bankruptcy filings by some of its tenants.
IRVINE, CA-Concord Disc Manufacturing plans to be fully operational in the industrial building it just subleased from Seagate Technology by February 2001.
NEW YORK CITY-Investors have different approaches on how to prosper. Some will stick with class A properties; others will shift their focus from suburban office space to apartment buildings.
GREENWICH, CT-Urstadt Biddle Properties Inc., a retail REIT, reported a slight increase in funds from operations for fiscal year 2000 and a drop in net income due mainly to bankruptcy filings by some of its tenants.
CLERMONT, FL-The old 45-foot high limit is still in the code books but this Orlando bedroom community may find a technical exception now that the fire department's new ladders can reach 60-foot high structures.
ATLANTA-The university envisions the near-future construction of another 2,000 beds within a mile radius of the campus. A construction start on the 370 beds hinges on the completion of a bond issue by the University Financing Foundation, the project's owner.
DENVER-Developers already are expressing keen interest in a 50-acre industrial site owned by Gates Rubber Co. Gates hopes to find a buyer willing to do a leaseback of up to 400,000 sf of the 2.3 million sf of industrial buildings.
ORLANDO-James T. Stanley, senior vice president of operations at Planet Hollywood International Inc., is shooting for a second outlet in either New York or Los Angeles next year. Restaurants in other National Basketball Association cities are also on the drawing boards.
AUSTIN-The state capital has more than one reason to celebrate these days. In a give-and-take deal, city council has given its blessing and $25 million in incentives to Vignette to construct its world headquarters downtown. Vignette too has some giving to do.