PORTLAND-Occupancy dropped last year as the market continued to soak up five new hotels in the past four years. So far this year, hoteliers in select areas are sounding a little happier. Then again, more hotel rooms are on the way.
REDWOOD CITY, CA-The loan comes from Prudential Mortgage Capital Company of San Francisco and is secured by a five-story office building at 305 Walnut Street that is 100% leased and occupied.
SALEM, OR-Save for some non-profit agencies that are receiving free rent, the historic brick building at High and State streets has been largely vacant since the county consolidated its offices last year at Courthouse Square.
VANCOUVER, WA-The national specialty grocery chain Trader Joe's and Party City will each take 10,000-sf in the project to open their first locations in Clark County. They will join longtime tenants Shari's, Blockbuster and Petco.
FREMONT, CA-The Internet content delivery firm is leasing the third floor of Civic Center Place, a new four-story Class A building developed by Principal Capital Group. Tenant improvements are underway with an approximate move in date of April 1, 2001.
SANTA ROSA, CA-The expansions, totaling 56,000 sf, are prompting a 106,000-sf second phase of building at the business park located near the Sonoma County Airport. The developer is Basin Street Properties. The park will eventually hold five office buildings.
HILLSBORO, OR-The joint venture partners are working on the second of seven class A office buildings planned for the 23-acre site. The first building, completed last year, is 92% occupied. The second building is 66% leased.
FREMONT, CA-The Internet content delivery firm is leasing the third floor of Civic Center Place, a new four-story Class A building developed by Principal Capital Group. Tenant improvements are underway with an approximate move in date of April 1, 2001.
SALEM, OR-Implementation of the property takings measure remains on hold while the state attorney general appeals the ruling on behalf of the voters. Meantime, the Legislature mulls rewriting the measure and sending it back to the voters.
CHICAGO and MENLO PARK, CA-The deal makes the new company the No. 1 or 2 office property owner in nine the top 10 markets. "This business is changing," says chairman Ned Spieker, who gets an EOP board seat.
