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PHOENIX-In a bid to refocus on office and industrial holdings, the seller lets go of its last multifamily asset in the US to a 1031 Exchange buyer from California, who's marking his second Phoenix acquisition with the 302-unit Woodbridge Apartments.
NORTH ATTLEBORO, MA-The Artcraft Co. Inc. moves up the block to 200 John L. Dietsch Blvd. The printing company acquired this facility which, at 37,100 sf, more than doubles the space of its national headquarters.
CHICAGO-Prime Group Realty Trust has been in play on and off for more than three years, and Merrill Lynch & Co. continues to field offers in its assignment to explore "strategic alternatives." However, "We haven't been offering our individual properties because we think there's more value as a whole than piecemeal at this time," chairman Stephen Nardi says.
LONDON-English Partnerships, the national regeneration agency, has selected Bellway Homes as its partner in a new joint venture company to develop Barking Reach, a 360-acre brownfield site in the Thames Gateway, East London.
VIRGINIA BEACH, VA-LifeNet gets started on a 170,000-sf headquarters. The $40 million endeavor will allow the federally designated organ tissue distributor to expand and consolidate four area offices under one roof.
ORLANDO-New jobs and a drop in construction activity are expected to bolster the area's 140,000-unit inventory in occupancy, rents and sales, according to separate third-quarter studies by the local offices of Marcus & Millichap Real Estate Brokerage Services Inc. and CB Richard Ellis Inc.
FAIR LAWN, NJ-Gebroe-Hammer, which represented both the buyer and the seller, reports that the price tag for the 20,000-sf asset was "in excess of $5 million.
WAUKEGAN, IL-The Lakehurst Mall, on a death spiral ever since the opening of Gurnee Mills, comes down to make way for the Shaw Co.'s $200-million mixed-use Fountain Square development.