SEATTLE-The City Council's Urban Planning & Development Committee this week approved the sale of more than 400,000 sf of transferrable development rights for the proposed 42-story Washington Mutual Tower. The sale goes before the full council on Monday.
BERKELEY, CA-Released this week, the university's long-range development plan foresees the need for as much as 2.2 million sf of additional building space on and around the campus by 2020.
OSAKA, JAPAN-The 104-room hotel and restaurant property in the Kansai area of Japan is being renovated en route to a re-opening in June. The owner, Asset Managers Co. Ltd. has signed a management agreement with Nikko Hotels International, an operating company of Tokyo-based JAL Hotels Co. Ltd.
BAGHDAD, IRAQ-News of a rocket striking the Sheraton Baghdad here Wednesdday afternoon prompts Starwood Hotels & Resorts to announce that the brand name is being used without its permission.
NEWBERG, OR-The Christian university, which surrounds the Providence Newberg Hospital on three sides, plans to use the eight-acre property to accommodate its growing professional and graduate programs, either by renovating the 58,900-sf main hospital building or by constructing new facilities on the site.
OLYMPIA, WA-The state's preliminary seasonally adjusted unemployment rate for March falls one-tenth of one percentage point during March to 6.1%. Looking ahead, the Employment Security Department's chief economist Kirsta Glenn tells GlobeSt.com that the rate "will stay about where it is" through April.
SAN FRANCISCO-The locally headquartered industrial REIT's operating portfolio was 92.7% leased as of the end of March, down from 93.1% at the start of the year. Rents on lease renewals and rollovers decreased by 14.7% during the quarter.
BERMUDA-The Dallas-based hotel company is finishing a $38-million renovation of the former Sonesta Beach Resort Bermuda, which has been closed since Hurricane Fabian tore through the region in September 2003. It will re-open in June as the Wyndham Bermuda Resort & Spa Southampton Beach.
LAS VEGAS-A 15-acre site with five commercial pads slated for 134,000 sf of development sells for about $6.3 million and a 3.9-acre site with one 45,769-sf retail building on it sells for $10.1 million.