PORTLAND- The region's 124-million-sf industrial inventory stood 11.7% vacant at the end of June and continues to rise through the third quarter as tenants move out of older buildings and into newer ones.
COLUMBUS, OH-Bids are due Sept. 8 for Lincoln Park Apartments, the largest apartment complex here. The property is an asset of Port West LP, which filed for Chapter 11 bankruptcy court protection at the end of August 2002.
LAS VEGAS-Publicly traded Chelsea Property Group Inc. of Roseland, NJ, completes its $104-million acquisition of Belz Factory Outlet World - Las Vegas, a 477,000-sf outlet center south of The Strip that will complement another major outlet center it has just developed north of The Strip.
ISSAQUAH, WA-Intent on relocating to a more urban setting, Trinity Lutheran College began marketing its wooded 40-acre campus located 18 miles east of Seattle to some 230 public and private universities, commercial colleges and high schools.
SEATTLE-The Toronto-based REIT finances the 450-room luxury hotel acquisition through the assumption of a $44-million first mortgage and hands management to its affiliate, Fairmont Hotels & Resorts Inc. Four Seasons Hotels Inc. has managed the Downtown hotel for the past 21 years.
STOCKTON, CA-The $80-million-plus development, part of a 3,000-acre master planned community by A. G. Spanos, will be the only regional shopping center located on the I-5 corridor in the Stockton trade area.
SEATTLE-The largest purchaser of class A office space in 2002 says it plans to invest the money in the Seattle and Portland markets, buying single- and multi-tenant buildings with "big-credit" tenants under long-term commitments.
PORTLAND-Parsons Farnell & Grein subleases 7,964 sf from Net IQ at a full-service rate of around $18 per sf per year. Net IQ assumed a lease obligation for 57,000 sf in Downtown Portland's newest office tower when it acquired Webtrends in 2001.
AUSTIN, TX-Assuming a 120-day environmental review prompts no concerns, the U.S. General Services Administration will acquire a six-story skeleton at Fourth and San Antonio streets that was on its way to being a chip design center when Intel halted construction in 2001.
INDIANAPOLIS-The mall REIT's second-quarter net income fell 65% from a year earlier, when the sale of six properties provided significant one-time gains. FFO grew 29% to $196.9 million, in part due to the portfolio of assets acquired from Rodamco North America N.V. in May 2002.