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DENVER-There is no cause for alarm that the $115-million Westin will drain occupancies at Stapleton hotels, say the experts. The operations cater to different crowds with different ideas about spending money.
HOUSTON-Sagging third quarter income doesn't dismay Comfort Systems USA, which is in the midst of a restructuring. The commercial HVAC supplier is closing some operations and selling off those deemed as non-strategic assets.
DALLAS-Playing off the "build it and they will come" philosophy, Cushman & Wakefield has netted $3.7 million for a client. The first step had been to find the right tenant and then, the right buyer.
PHOENIX-Adding to the much needed supply of affordable housing, a Phoenix-based non-profit group has purchased a West Valley complex for $7.35 million.
SAN ANTONIO-The 102,079-sf Titan Building is on its way back, with six new leases and two renewals, including one expansion. The structure's 68% occupancy has jumped to 90% with the pacts.
SAN DIEGO-Major investor in high-tech start-ups is opening an office in San Diego. Sevin Rosen Funds' expansion to San Diego is viewed as an indicator of region's growing reputation as an incubator for high-tech developments.
BOSTON-McGraw-Hill economist predicts a slowdown in the New England region's construction industry but, thanks to the enormous amount of activity in the local industry, local experts are not worried.
DENVER-SafeRent has sealed a prime deal for on-line applicant screening for the Simpson Property Group. The firm's portfolio consists of 115 multifamily communities totaling more than 30,000 units.
HASKELL, NJ-A local private group that plans to redevelop the site has acquired General Ceramics plant, which closed 18 months ago. It had been difficult to sell before the developer entered the picture.
SYRACUSE, NY-Avant Financial LLC, a newly formed bank holding company, has acquired a 72% ownership interest in Reliance Bank, a $26-million closely held commercial bank headquartered in White Plains.