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GURNEE, IL-Penta Development Group gets $3.15 million for its building at 905 Lakeside Dr. in the Grand Tri-State Business Park. Nearly 24,000 sf of the 63,000-sf building are available at $5.50 per sf net.
ANAHEIM, CA-The industrial park consists of two single-story buildings. Although financial terms were not disclosed, local brokers estimate its value at more than $15 million.
GREATER BOSTON-A study by Lehman Brothers and Cushman and Wakefield indicates that only 25% of all the telecommunications space in the Greater Boston area was leased as of February, making this area's telecom industry softer than those in most major sections of the country.
BELLEVUE, WA-On the Eastside alone there are approximately 2.5 million sf of space up for sublease. Looking to re-tenant traditional office space is tough enough. But high-tech tenants are, at the moment, as scarce as the spotted owl.
NEW YORK CITY-A senior analyst from Cushman & Wakefield, GlobeSt.com's newest market-data provider, sees the office and industrial markets leveling off but says the firm will continue to watch tech-heavy areas.
PORTLAND-Locally-based Parr Financial buys the 173,392-sf, three-story building in the heart of Downtown from CT Investments Inc, a New York-based individual investor that has held the property for several years. Nordstrom has 17 years left on a lease that includes options to 2037.
PETALUMA, CA-Gateway Business Park owner Basin Street Properties, a commercial and mixed-use property developer, negotiated an agreement with SimplexGrinnell LP, a division of Tyco International
PORTLAND-The financing, through Archon Financial, pays off a $14 million Wells Fargo construction loan for the high end, 131-unit market rate apartment building in the condominium-filled Pearl District. The building sold out within six months of the first move in last September.
HOUSTON-A merger fine-tuning puts Cushman Realty veterans Tim Relyea and Scott Wegmann in charge of the new Cushman & Wakefield of Texas Houston office. No layoffs of the combined 135-member staff are planned, but one office will have to go.
STAMFORD, CT-The Old Advocate Building has been sold for $2.7 million to David Williams of Alliance Capital Management who will open a private art gallery displaying the works of Jackson Pollock, Andy Warhol and others.