SYDNEY-The Australia-based shopping mall developer offers US$940 million cash for AMP's nine regional malls in the country, topping a US$855.5-million cash and scrip bid by Australia-based Centro Properties Group.
SEATTLE-Looking to continue developing in the down economy, Lisa Picard moves from the Eastside office of Hines Interests LP to Harbor Properties, where she will oversee various developments in the Cascade neighborhood, including three projects being developed in partnership with Vulcan Inc.
DUBLIN, CA-The $125-million mixed-use development with a traditional main street shopping experience celebrated its grand opening last week. The retail space is all but full and the first phase of the residential is 78% leased.
MONTREAL-Overlooking Mount Royal Park in central Montreal, the property is currently 99% occupied with an average monthly rent of $625 per unit. It is the Toronto-based REIT's second Montreal acquisition this year.
SPOKANE, WA-The locally based real estate development company is renovating several older buildings in Downtown Spokane and adding a couple of new ones en route to a mixed-use development that will include 130 apartment units over 37,000 sf of retail space.
AUSTIN, TX-As incentive for the 42-acre project in North Austin, the City of Austin agrees to rebate to the owner a percentage of the property and sales taxes the development will generate over the next 20 years.
SALT LAKE CITY-The Jordan Landing Shopping Center, which got underway in 1999, will encompass about 1.4 million sf upon completion in the 1st quarter of 2004, making it the largest open-air retail development in the State of Utah.
WOODBURN, OR-After being put on hold following the events of Sept. 11, 2001, construction is underway for a slightly smaller expansion of the Woodburn Company Stores outlet mall between Portland and Salem in Interstate 5.
PLEASANTON, CA-The Pleasanton-based technology firm specializing in business-to-business electronic commerce says it is vacating and subleasing its 153,000-sf headquarters in an effort to control costs and stay afloat. Seven of the company's 12 leaseholds are currently unoccupied.
PUERTO RICO-Citing "general business climate and the proliferation of newer and more modern competitors," the Hyatt Hotels Corp. says it will close its Hyatt Regency Cerromar Beach in Puerto Rico by July 15, 2003.