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LONG BEACH, CA-The seven-story, institutional quality mid-rise office building brought a selling price of $125 per square foot. Built in 1982, the structural steel and glass building is 91% occupied.
RICHARDSON, TX-UBS' alignment of its asset mix had 10 institutional and private equity capital investors jockeying for the Arapaho Business Park. The winner is Ray W. Washburne, who is zeroing in on market opportunities as the bid-ask spread narrows.
ANAHEIM, CA-The owner of American Barricade scoops up the 8,400-sf industrial building, which is located in the Orangewood Stadium Business Park. The deal is valued at $714,000.
ROMULUS, MI-Grand Sakwa lets an option on the land expire, meaning yet another development proposal has fallen through. Previous plans have included a stadium for the Detroit Tigers as well as a casino.
ANAHEIM, CA-The buyer, the Migneco Family Trust, pays $2.3 million for the building. Encompassing 27,685 sf, it is located within the Orangewood Stadium Business Park.
SAN ANTONIO-Trinity Universal Insurance Co. takes a bite out of San Antonio's office market, signing a new lease for nearly 10,000 sf here. Cushman & Wakefield represented Trinity in the transaction.
ELIZABETH, NJ-Located in this city's urban enterprise zone, the sprawling asset is said to be the largest availability in the port area surrounding Elizabeth and Newark.
NEW YORK CITY-There's a trend among major national real estate firms to eschew city-by-city ownership in favor of network alliances. Respondents to GlobeSt.com's latest Quick Survey, however, state that the tide may just turn again when the economy recovers.
HOUSTON-Architect John Kirksey, homebuilders David and Dick Weekley and investor Henry Hamman are kicking around redevelopment plans for the former retailer's headquarters site. C&W's Dave Cook gets credit for taking the idea to the team.
NEW YORK CITY-"Herculean" financial challenges face Downtown, Insignia/ESG's John Powers commented at the firm's Market Forecast breakfast yesterday. Keynoter Rudy Giuliani said we can learn from the city's efforts a decade ago. Powers also proposed a specific mix of new development and memorial space for the WTC site.