SAN FRANCISCO-A recent Bay Area apartment market research report expects vacancies and rents to begin to firm toward the end of the year, with investment activity likely accelerating over the coming months in the face of rising interest rates.
TACOMA, WA-Development projects by Roberson Building Co. and Rainier Pacific Bank receive more than $7 million in federal tax credit allocations. Tacoma is the only city in Puget Sound and one of only 28 urban communities around the country to participate in the program.
BARCELONA-The publicly traded adult entertainment company is selling off another floor of its 104,400-sf office development here in order to meet future cash-flow needs for "the ongoing strategic expansion" of its business.
TIGARD, OR-Washington Square property manager Jack Reardon tells GlobeSt.com there has been good activity on 80,000 sf of expansion space for which ground will be broken next spring, after two new parking decks are completed.
SAN FRANCISCO-The locally based real estate investment management company hires Thomas Hwang, most recently a VP in the asset management group of Prudential Real Estate Investors.
CINCINNATI-The New York-based global financial services firm sells Sycamore Plaza at Kenwood to a private investment group from Los Angeles for $61.5 million. Located across the street from a major mall, Sycamore Plaza is anchored by Barnes & Noble, Toys 'R' Us, Lazarus Furniture Gallery and Dick's Sporting Goods.
PARIS-The French subsidiary of Europe's top life insurance company acquires a portfolio of eight office and retail properties from Euro 5 Property Fund, an investment vehicle set up by LaSalle Investment Management to take advantage of recovering real estate markets in France, Italy, Spain, Portugal and Germany.
LACEY, WA-The 20-branch bank, locally based for now, is disposing of the mostly small-town locations as part of its strategy to focus its branches in communities along the I-5 corridor. The $10.5-million sale includes the properties and $95 million in deposits.
PORTLAND-One month after paying a record $141,666 per unit for the 108-unit, 16-building Uptown Heights apartment development, local developer Marty Kehoe has reservations for 75 of the three-level one- and two-bedroom view homes at prices ranging from mid-$170,000's to more than $300,000.
SANTA CLARA, CA-Less than a month after the Dallas-based REIT pays $34.8 million for 3Com's vacant 306,400-sf former headquarters campus here, it lands a single tenant for two of the three buildings that will provide a 7.8% annual cash return on its basis in the buildings.