Globest Sectors

LAS VEGAS-Absorption normalizes in the face of above-average construction activity, pushing vacancy to its highest point since the turn of the century, according to a new report.

MAUI, HI-Festival Retail Fund 1 acquires the Fairway Shops at Kaanapali and the Napili Plaza in West Maui for a combined $28.5 million.

TUCSON-Water Tower Development claims the class B Arcadia Gardens Apartments from DRA Advisors after another investor's contract fails to cross the finish line.

DALLAS-Chicago Title, with four aggressive offers to weigh, keeps keys to the 17th floor or 26,203 sf of class A office space in the CBD's Bryan Tower.

HOUSTON-Phillips Development cranks up work on the last phase of the $211-million condo project near Texas Medical Center. The next wave of condos will deliver in fall 2008.

BEDFORD, MA-One report by Meredith & Grew is registering 3.1 million sf of positive absorption YTD for the north office market.

PHOENIX-Opus West will build the 131,850-sf Northgate Corporate Centre on a 13-acre tract that it leased from the state. Work starts in January.

WASHINGTON, DC-With 3,000 units of new product coming online, the District's historically low vacancy rate could soon start to rise.