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SEATTLE-With some of its systems failing, the 12-story, 93,500-sf Cobb building on the University of Washington's Metropolitan Tract Downtown will be emptied of its tenants and converted into a 77-unit apartment building.
HOUSTON-International Demographics, a marketing firm, takes 11,877 sf of class B space inside the city limits while the law firm of Rathwell and Nizialek stays tucked in the suburbs, renewing and expanding with a 7,747-sf, class A lease in the Woodlands.
NORTH RICHLAND HILLS, TX-San Gabriel Residential combines European equity and a five-year, interest-only loan to buy Diamond Ridge as the lead-off play to a strategy to spend $50 million annually on mostly class B multifamily product in Texas.
LA JOLLA-The University of California, San Diego chooses McCarthy Building Cos. Inc. as the general contractor for its renovation and expansion project involving the biomedical library located at the UCSD campus here.
HOUSTON-The pairing of two industrial units into one building delivers a sale in the Aberdeen Commerce Center for a San Antonio owner. A local investor's interest in the "for lease" listing triggers the talks for the sale.
LONDON-Glasgow-based LNC Property Group has paid Gerald Ronson's Heron International pounds 40 million ($70 million) for the long leasehold interest in 16 St James's St., London SW1.
REDLANDS, CA-In the second major sale of a Redlands industrial building in recent weeks, Kensington Realty Advisors of Chicago has purchased a 289,683-sf distribution facility at Redlands Commerce Center for $11.6 million.
SAN FRANCISCO-Allen Matkins Leck Gamble & Mallory LLP next June will move to the Boston Properties office building from 333 Bush, where its lease is up at the end of May.
LYNN, MA-The former St. Jean Baptiste parish and school gets a new lease on life as a 38-unit affordable housing development. The site's four existing buildings, all of which are no longer used by the Archdiocese, will be demolished for the two-phase construction.
ATLANTA-Locally based Wells Real Estate Funds ends the fund-raising phase of the Wells Real Estate Investment Trust Inc. which has acquired 100 class A properties totaling 20 million sf in 26 states for 130,000 investors.