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DETROIT-Following the merger of its parent company with El Paso Energy, ANR Pipeline will leave Towers 500 and 600 at the Renaissance Center. The move underscores the effects of the merger boom on the real estate industry.
QUEENSLAND, MD-The owner of the Wye River Conference Center, where Israeli and Palestinian officials negotiated a 1998 peace accord, wants to find a joint venture partner or a leasehold client that will help finance the expansion and renovation of the 86-room facility.
SAN ANTONIO-Montesan Ltd.'s 4040 Broadway Building, a 96,656-sf office structure, is getting a new tenant. A lawyer has signed a deal for 3,482-sf in the building, which is positioned in the city's North Central submarket.
MILL VALLEY, CA-The two technology companies are taking space at the still-under-construction 100,000-sf Belvedere Place complex in Mill Valley. The property is owned by Lehman Brothers. When complete, the $30 million project will comprise two buildings, along with a parking structure.
DUBLIN, CA-Oracle Corp. is negotiating a deal for 12 acres of land situated along interstate 580 near the Dublin/Pleasanton BART station. The news comes on the heels of several other firms making recent moves into the Tri-Valley area, prompting Mayor Guy Houston to dub his city "Digital Dublin.
SAN FRANCISCO-Survey respondents' continue to favor investment in 24-hour cities - cities that have succeeded in bringing together a critical mass of quality housing and healthy business activity in central locations.
HOLLYWOOD, FL-The Seminole Indian tribe, which opened the country's first high-stakes bingo hall on reservation land here back in 1979, is preparing to break ground on a new $300 million development of gaming and complementary facilities. But it first must clear the local site of an existing mobile home and travel-trailer park.
RALEIGH, NC-Walnut Creek Business Park will comprise 1.3 million sf for office, distribution and light manufacturing purposes. Four service center buildings, totaling 250,000 sf, are also planned. Nine distribution buildings will provide more than 1 million sf.
SPOKANE, WA-WestCoast stock hit a 52-week low of $5/share yesterday, and the news isn't much better today. The company is reporting a 6.1% drop in net income for the third quarter due to higher interest costs, depreciation and amortization, income taxes and a one-time, non-cash charge.