SAN FRANCISCO-At an investors' seminar in San Francisco, consultants analyzed the hotel industry, revealing that any ongoing additions to the lodging supply will likely be completed by the end of 2003, and any further hotel building would be "highly speculative.
MORGAN HILL, CA-Paramit Corp. has signed a long-term lease at Madrone Business Park. The company will occupy a 150,000-sf build-to-suit facility at the park, which is owned by Mission West Properties, Toeniskoetter & Breeding, Inc. (TBI) Development and The Berg Group.
EAST PALO ALTO, CA-The City Council may vote in coming weeks on a proposal to scale back height and design standards that were set last year, throwing into question a significant retail-commercial project planned for one of East Palo Alto's biggest intersections.
SAN FRANCISCO-The San Francisco Art Institute, which is part of a proposed project at Pier 70, has signed a five-year lease near the waterfront, after its Market Street lease began nearing expiration.
SAN FRANCISCO-One of the plans would raise the affordable housing requirement from 10% to 14% for large projects including live-work lofts. The percentage could go as high as 25% if the affordable units are built off site.
DALY CITY, CA-A European property group has taken a significant step in increasing its US presence with the purchase of Serramonte Shopping Center, an 850,000-sf, single level retail mall anchored by Macy's, Target and Mervyn's.
SAN JOSE-A California Department of Conservation official says the designations should not affect real estate values, though agents and property owners will now be required to inform potential buyers and tenants about it.
SACRAMENTO-City officials and residents participated in a rally in front of the West Sacramento City Hall against the Upper Lake Pomo Indians' proposed hotel and gaming off Interstate 80.
SAN FRANCISCO-Burlington Northern and Santa Fe Railway Co. plans to use a 105.39-acre site that it purchased from Catellus Development Corp. to build a rail served facility to meet So Cal rail transportation needs.
RICHMOND, CA-The sale of Zeneca Inc.'s Western Research Park to Simeon Commercial Properties is expected to close in the next two months. Simeon plans to develop a 1-million-sf research and development park.