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DALLAS-First Industrial Realty Trust acquires six properties for $20.8 million and sells two others for $16.3 million, giving the real estate investment firm a stronger foothold in the Texas market.
FRANKLIN, MA- New Boston Fund, Inc. and Condyne LLC Real Estate Development will develop a 233,450-sf, distribution center in the Franklin Industrial Park. The companies anticipate that the spec project's location as well as the area's lack of large industrial space will prove appealing to potential tenants.
ATLANTA-Locally based Turner Associates/Architects and Planners is taking 17,500 sf for 10 years at an estimated aggregate rent of $2.63 million. Turner and Hard Rock Cafi are the sole tenants in the 77-year-old Downtown structure.
CLIFTON, NJ-The firm, which owns both its former and new headquarters facilities, has set up shop at a former Hoffmann-La Roche facility it acquired two years ago and completely refurbished.
MIDDLETOWN, NJ-The move-in completes a sublease process that began earlier this year when AT&T put the space on the market after consolidating the location's functions to two other sites.
DENVER-Equity Office Properties Trust's 560,000-sf asset at 1200 17th St. keeps Townsend and Townsend and Crew LLP in the 30-story office portion of a development that also includes Shops at Tabor Center, a parking garage and a Westin Hotel.
PORTLAND-The owner and developer of office and flex-industrial space closes on $4.375 million in refinancing for its 33,847-sf Durham Office Center, which is 100% occupied. The 10-year loan was done at a 75% loan-to-value ratio.
NEWARK-The 466,919-sf class A One Gateway Center, part of a four-building, 2.3 million-sf mixed use complex, currently has 180,000 sf of office space available.
ALLENDALE, NJ-The REIT has acquired the eight-building, 408,000-sf high-tech industrial park in Bergen County from TA Associates. The new owner faces a 100,000-sf give-back by prime tenant Howmedica Osteonics.
NEW YORK CITY-Cushman & Wakefield chairman John C. Cushman III and AIG SunAmerica Inc. chairman Eli Broad used a Manhattan event yesterday to boost investments on Downtown LA, dubbing it the best market in the US.