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NORTHBROOK, IL-Service Envelope pays $8.5 million for a 16,165-sf building on 1.04 acre at 1925 Holste Rd. here while Drug Source Inc. picks up a 15,000-sf building at 2020 Lunt Ave. in Elk Grove Village for $780,000.
MINNEAPOLIS-Multifamily units account for 51% of the 1,732 units planned, but year-to-date accounts for 49% of total units, one of the highest ratios in recent years, according to the Builders Association of the Twin Cities.
SAN DIEGO-Entities of private investor Stephen J. Brown snap up the two-story office building that stands at 9555 Chesapeake Dr. in the city. The asset's largest tenant is the State of California's Department of Health Services.
KELLER, TX-The WhiteCo Residential affiliate locks in the rate for the seven-year loan and then spends about seven months stabilizing occupancy. The loan closes with occupancy at 94% and retires construction debt for one-year-old Dominion Town Center.
IRVINE, CA-In a report reflecting the demand for housing in Southern California, the developer of the high-rise condo says that half of the luxury condominiums are sold or spoken for while the project is still under construction.
LONDON-Brixton has sold Drake and Swan House, Homestead Road, Rickmansworth, Hertfordshire for pounds 18.25 million ($32 million) representing a net initial yield of 7.55%.
ADDISON, TX-AmeriVest wins the race for the 252,318-sf Greenhill Park, a 76%-leased asset tied to a ground lease for 80 years. The remaining term and a first-year cap rate of 10% are the convincing factors for AmeriVest to join in the chase.
WOODBRIDGE, NJ-The company, based here, is expanding its presence in the northern part of the Garden State with a new location in Roseland. The office will focus on a seven-county area.
ATLANTA-In the largest metro area sale of its kind this year, locally based Jamestown Management pays a Munich, Germany entrepreneur $131 million, or $151.49 per sf, for the two-building, 864,700-sf asset in the northwest Atlanta submarket.
PALM BEACH, FL-The leases, being acquired from the REIT's main lessee, are the first of 60 hotel leases the company plans to acquire from Innkeepers Hospitality. Innkeepers USA Trust paid Innkeepers Hospitality about $3.8 million cash for the 23 leases.