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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.
BEDFORD, MA-Insulet Corp. signs a five-year, 53,500-sf lease, for a facility at 9 Oak Park. The company, which develops medical devices, is initially subleasing from Corning and then leasing directly from William J. Callahan, the building's owner.
FALLS CHURCH, VA-Mitretek Systems' headquarters building, a 253,000-sf office facility the company leases, finds a new owner as developer and owner Hines sells the property to ING Group's ING Real Estate in a $92.8-million transaction. Mitretek's lease is good until 2017.
ATLANTA-In another expected hit for Downtown, the Charlotte, NC-based bank plans to move out of most of its 300,000-sf of leased quarters at the 1.2-million-sf Peachtree Tower to the recently completed SouthTrust Building at Atlantic Station. The relocation will be made when Wachovia's planned $14.3-billion acquisition of SouthTrust is completed.
LONDON-Minerva has extended the deadline for formal, non-binding bids for the company to Sept. 20. Bids of about €894 million ($1.1 billion) are expected and at least 15 possible suitors have been invited to bid.
BEIJING-The interest in the 24-story, 600,000-sf class A office building is being sold to Hyundai Motor Company of Korea and its affiliates, Kia Motors and Hyundai Mobis. Hines and Trust Company of the West purchased the building in 2001 from its developer, Hyundai Engineering & Construction Co. of Korea and its affiliates. It was 40% leased at the time; the price was $95 million.
HOUSTON-Hines Corporate Properties sells a four-year-old office complex, leased through September 2015, to Veritas Geophysical Corp. The buyer, Lexington Corporate Properties, gets 218,641 sf in three buildings and its sixth deed in the region.