 |
 |
 | | | |
|  Tuesday, April 22, 2008 |
|
Uncle Sam seeks veterans-related tenants
 The War Memorial Commission is looking for tenants to occupy the State American Legion building at 777 N. Meridian St. In June, the American Legion Auxiliary national headquarters will give up 11,000 square feet of space it occupies on the third and fourth floors of the building, leaving the building about half empty. "We'd like to find something compatible with veterans and the military that would respect what we do here and be comfortable in the environment here," said J. Stewart Goodwin, a brigadier general of the United States Air Force and executive director of the War Memorial Commission. 
Projects
Lauth Property Group plans to build a 150,000-square-foot speculative office building in its Intech Park, a 210-acre business park near Interstate 465 and 71st Street. The building, Intech Four, is expected to be completed by September 2009. It will be the ninth office building to go up in the park.
|  | | | |
|  |
Sales/acquisitions
- St. Louis-based-Bianco Properties bought a two-building portfolio at 8219 and 8227 Northwest Boulevard from Chicago-based First Industrial Realty Trust Inc. for more than $15 million. The buildings total 343,200 square feet and are 92.7-percent occupied. Tenants include St. Vincent Hospital, The Habegger Corp., Arvco Container and Crawford's Bakery. John Huguenard, Angela Wethington and Kimberly Estes of Colliers Turley Martin Tucker represented the seller. Bianco represented itself.
- RW Carter Corp. sold a 61,480-square-foot building at 1737 Massachusetts Ave. for an undisclosed amount. Harvey Levin and Jeffery Baumgartner of Coldwell Banker Commercial Realty Services represented the seller. Sandra Jarvis and Brian Epstein of Urban Space Commercial Properties represented the undisclosed buyer, who will occupy the building.
- Ernster Properties, of Milwaukee, bought the Metroplex Centre at East 82nd and Craig streets in Castleton. The 20,400-square-foot retail center is 95-percent occupied. The seller, Williams Realty Seventeen LLC, represented itself. Tracey Holtzman with NAI Olympia Partners represented the buyer.
- Lauth Property Group is selling a 4.4-acre parcel of land in the developer's Intech Park on the city's west side to Vision Hospitality of Chattanooga, Tenn. The sale price was not disclosed. Vision Hospitality plans to build a 122-room Hilton Garden Inn on the land.
Leases/leasing contracts
- U.S. Customs and Border Protection leased 38,000 square feet at 6510 Telecom Drive in Intech Park near West 71st Street and Interstate 465. The landlord, Lauth Property Group, represented itself. The federal government's General Services Administration represented the tenant.
- Strategic Materials Inc. leased 17,500 square feet at 4040 W. 10th St. J.D. Graves with CB Richard Ellis represented the tenant, a glass recycling company. Bill Byram, with Colliers Turley Martin Tucker, represented the landlord, Speedway Industrial Park, which is owned by the Dotlich family.
Housing
- Construction of homes nationwide fell 11.9 percent in March, to an annualized 947,000 units, from the month before, reported the Commerce Department. It was the lowest level in 17 years and far lower than the 988,000 units expected by economists. Starts are down 36.5 percent from a year ago. Construction of single-family homes fell 5.7 percent, to 680,000 in March; starts of large apartment units fell 24.6 percent, to 267,000. Building permits, a leading indicator of housing construction, fell 5.8 percent to an annual rate of 927,000; the lowest level of permits since April 1991.
| | | |
|
- The pace of mortgage loan applications increased 2.5 percent last week from the week before, according to the Mortgage Bankers Association. Refinancings accounted for 53.5 percent of all applications, up from 52.2 percent in the previous week. Interest rates fell slightly with 30-year mortgages averaging 5.74 percent, down from 5.78 percent. Rates on 15-year loans averaged 5.27 percent, down from 5.39 percent.
People
 Abby Cooper has joined Meridian Real Estate as a leasing assistant.
 Jenn Cox has joined The Stratford Cos. as marketing services manager.
|  | | | |
|  Cyrus Jafari has joined Century 21 Scheetz as a sales associate.
Cam Kucic and Matt McGrady have joined Summit Realty Group as associates in industrial services.
Around the country
A 138-acre parcel of land above and to the left of the 45-foot-high letters in the well-known HOLLYWOOD sign in Los Angeles is for sale. The parcel had once been owned by billionaire Howard Hughes who, as the story goes, bought it in 1940 with plans of building a mansion for him and Ginger Rogers. But the famous stage and screen dancer rebuffed the overtures of the eccentric billionaire and the sage-covered land remained undeveloped. Fox River Financial Resources, of Chicago, bought the parcel from Hughes' estate in 2002 for $1.7 million. The group is asking $22 million for the land. The steel and concrete sign was built in 1923 to advertise real estate in the movie-making city. Residents in the area are fighting to save the parcel, known as Caheunga Peak, which many assumed had fallen into the public domain.
 CVS to replace downtown IHOP
CVS has filed plans to build a store the southeast corner of 16th and Meridian streets, where an IHOP restaurant now stands. The pharmacy would replace the iconic pancake house and a probation office that was an Osco pharmacy several years ago. The site is across the street from a Walgreens pharmacy that opened last year. Plans show the building would sit up against the intersection, with parking behind it and along Meridian. The parking area appears to also include a lot previously used by the Payton Wells car dealership. CVS already has a store nearby, at Illinois and 18th streets, that it likely would close.
Compiled by Tracy Donhardt, tdonhardt@ibj.com
Edited by Tom Harton
| | | |
| | |
| | |
| | |
No comments:
Post a Comment