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SCOTTSDALE, AZ-City council is expected to approve a plan next week for $3 million in start-up funds to help build a 100,000-sf biotech research laboratory on the Mayo Clinic campus. The facility is slated to open late next year.
SUWANEE, GA-Locally based Gary Holding Group is part of the joint venture that acquired the 76-unit Noble Village at Johns Creek for $13 million, or $171,053 per unit.
HOUSTON-Developer Davis Holdings replaces construction financing with a 20-year loan at an interest rate of about 6%. The fully leased, 32,468-sf Royal Oaks Plaza is the collateral for the GE Asset Management financing.
BOSTON-A ground breaking was held for the development of a 50-unit affordable housing complex at 33 Everett St. Harvard University provided a gap financing grant of $2.8 million to the Allston Brighton Community Development Corp.
ATLANTA-Local developer Doug Crawford withdraws plans for the estimated $10-million, 182,724-sf retail complex off Cascade Road after Fulton County commissioners fail to approve the project for the fourth time.
JENKINTOWN, PA-Shurgard Storage Centers takes 48,000 sf for 20 years; South Trust Bank signs up for 10 years in Richmond, VA, and RBC Centura inks six bank branch leases. A non-core sale brings in $3.4 million.
FAIRFAX COUNTY-VA-A 110,000-sf industrial structure that is fully leased to the Department of Defense hits the market and brings in $12 million from First Potomac Realty Trust for seller Elman Alexandria Associates.
LONDON-Great Portland Estates has pre-let its proposed 20,000-sf refurbishment scheme at 95 New Cavendish St., London W1 to construction consultants Gleeds at a headline rent of pounds 30 ($52) per sf.