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TEMPE, AZ-The well-known retailer marks a 23-acre spot at the crossroads of Interstate 10 and Warner Road for a 300,000-sf store. The California-based IKEA's original plan was to make a move on the Valley in 2006.
SAN DIEGO-The firm of Siegel & Moreno signs a lease to occupy 6,430 sf of office space at 707 Broadway. The deal is for 69 months and totals $760,000.
BERLIN-Under a management contract with Mediterranea Spa, a Sicilian public company, locally based Kempinski Hotels & Resorts will open the Kempinski Giardino di Costanza Grand Hotel & Spa in Mazara del Valla, on the island of Sicily.
HOUSTON-The locally based Bruce B. Dice Foundation pays cash for a 19-year-old office building with a $1.1-million asking price. The plan is to backfill some empty space with one of the buyer's non-profit organizations.
LONDON-Quintain Estates & Development has added to its strategic land bank in London, with two more purchases to add to its massive development sites on the Greenwich Peninsula and at Wembley.
SAN FRANCISCO-The locally based apartment REIT says that over the next year its president/CEO Frank McDowell will phase into retirement and Constance Moore, currently the company's executive vice president, will phase into the president/CEO role.
NEW YORK CITY-A new company is formed as Capital Lease Funding LLC goes public as a REIT with a $23- million IPO. Capital also plans to broaden its focus from debt financing for credit-tenant leased properties.
CARTERSVILLE, GA-Atlanta's suburbs continue to expand as developers submit plans to state agencies for Cartergrove Plantation, a subdivision that would have 3,350 single-family and townhomes, 70 acres of commercial, 52 acres of public space and 700 acres of green space.
WAYNE, MI-Both state and local governments are offering tax credits to Ford Motor Company in an attempt to get the number two automaker to upgrade its Wayne Assembly Plant.
LUBBOCK, TX-The 80% loan-to-cost financing is funding a 277-unit complex with 22,475 sf of retail, the first phase to a 350-acre redevelopment that's been years in the making in the Texas Tech neighborhood.