SANTA CLARA, CA-In a lender driven sale, Denver-based Archstone-Smith picks up the 450-unit Estancia Apartments for about $10 million less than the seller originally hoped to get when it hit the market nine months ago.
PORTLAND-A decision on whether the company will remain headquartered in Portland or relocate to one of three cities in the Southeastern United States will be made in the next 60 days, company officials tell GlobeSt.com.
SPOKANE, WA-The Kalispell Center Mall and the adjoining WestCoast Kalispell Hotel were to be sold to American Capital Group LLC, which was planning to upgrade the mall. WestCoast now says it will retain ownership of and operating responsibilities for the properties.
TORONTO-The Toronto City Council approves a deal with a consortium of companies for the restoration, revitalization and ongoing operation of Union Station, a National Historic Site, a gateway to Toronto's waterfront and a critical transportation hub.
LOUISVILLE, KY-Using New York-based Studley, Louisville-based Stites & Harbison renegotiates its leases in Louisville and Lexington and relocates its Atlanta office in order to lower its rental rates and plan for future expansion.
AGADIR, MOROCCO- Owned and developed by Helios International, the 402-room hotel in Agadir was completed in May. It re-opens as Le Meridien Palais des Roses in September.
PORTLAND-A source close to the disposition tells GlobeSt.com that an institutional buyer has tied up the property and will pay "in excess of $30 million" for 10-property, 22-building portfolio. The transaction is expected to close in the next 30 days or so.
SAN JOSE, CA-The first "Metropolis Shopping and Entertainment" store--where shoppers can watch advertisements on high-definition screens, provide feedback and purchase items right from their seats--is under construction in San Jose at Westfield Shoppingtown Oakridge.
SAN FRANCISCO-Austin-based Golfsmith International Inc. increases its retail footprint to 35 stores nationwide with the acquisition of San Francisco-based Don Sherwood Golf and Tennis World, a Bay-Area retail chain with locations in Dublin, Fremont, Palo Alto, San Francisco, San Jose and Walnut Creek.
SPOKANE, WA-Locally based ConoverBond Development is looking for a restaurant that wants to utilize a basement location in an historic seven-story office building in Downtown Spokane.