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SAN FRANCISCO-An affiliate of Houston-based Hines Interests acquires 101 Second St., a 387,000-sf building completed in 1989, and 55 Second St., a 379,000-sf building completed in 2002. The sale marks Cousins' sixth disposition so far this year.
SACRAMENTO-Two days after announcing that its US Core Office Fund paid $287 million for two Downtown San Francisco office buildings totaling 766,000 sf, the Chicago-based company says its US Office Value Added Fund also has acquired Sacramento-area assets, paying $69.5 million for Capital Center II/III, a 10-building, 529,000-sf portfolio of low-rise office space located in Rancho Cordova.
CHICAGO-Hines US Office Value Added Fund pays $131 per sf for the 10-building, 529,000-sf Capital Center II and III in Rancho Cordova, CA, the only asset Trizec Properties, Inc. had in the Sacramento market.
MILFORD, CT-A joint venture of ACG Equities LLC and Gotham Realty Holdings of New York City acquires the Merritt Crossing office building and an adjoining 26 acre-undeveloped parcel here for $22.9 million.
BOSTON-Shreve, Crump & Low relocates from 330 Boylston St. to 222 Berkeley St. The jewelry retailer is leasing 21,722 sf formerly occupied by FAO Schwartz. The toy retailer entered bankruptcy protection last year and closed this store.
SAN FRANCISCO-An affiliate of Houston-based Hines Interests acquires 101 Second St., a 387,000-sf building completed in 1989, and 55 Second St., a 379,000-sf building completed in 2002. The sale marks Cousins' sixth disposition so far this year.
DENVER-Houston-based Hines Interests pays the US Postal Service nearly $8 million for the 56,907-sf site at the 16th Street Mall and Wynkoop Street, then flips it to Opus Northwest for close to $12.1 million.
RIO DE JANEIRO-The Brazilian national oil company leases 100% of the office space in Torre Almirante (Admiral Tower), a new 36-story 678,000-sf Downtown development here that was funded by the Emerging Markets Real Estate Fund II, a partnership of Hines and Trust Co. of the West.
CHICAGO-A joint venture of developer Hines Interests LP and California Public Employees' Retirement System gets $303 per sf for the 37-story West Loop office building completed last year.
DALLAS-Johnson Industries, affected by a direct parts shipment to dealerships, slides into 18,510 sf or half the space of its previous location to accommodate the change. The distributor get a three-year lease; the owner, a 100% occupancy.
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