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NEW YORK CITY-A 115,000-sf lease renewal by original tenant Thomas Publishing capped off a banner time for leasing at 5 Penn Plaza. The site also had another renewal and two new tenants take space.
HOUSTON-Abitibi-Consolidated Corp. relocates a paper recycling division to 340 North Belt Place with a long-term lease for a 10,848-sf office. Colliers International and PM Realty Advisors craft the deal.
BOSTON-Travelers Aid extends its lease of 4,316 sf of office space for another five years on the first floor at 711 Atlantic Ave. The company also took another 2,809 sf in the lower level of the building.
STUDIO CITY, CA-The Englewood, CO-based Archstone-Smith REIT acquires the one-year-old Legacy at Studio City, a 276-unit complex that is 93% leased, for $84.5 million.
ATLANTA-John M. Leonard, regional manager of the Encino, CA-based firm's local office, ranks the city 15th on a 38-city growth analysis scale for 2004. Business expansion and declining construction will buoy the market next year here, despite existing 20% vacancy rates in some submarkets, he says.
LYNDHURST, NJ-The signing comes at a 143,000-sf Keystone industrial building within the Meadowlands Corporate Center. CB Richard Ellis and Cushman & Wakefield of NJ were the brokers.
DALLAS-The Berkshire Square Apartments passes from one locally based investment group to another after the buyer locks in a five-year, interest-only loan with a low 5% fixed rate. The new owner is putting $200,000 into upgrades at the 98%-leased complex.
CRANBURY, NJ-Genera Corp., an automotive after-market parts distributor, has signed on for the long term at Matrix Development Group's CenterPoint project, taking most of a 230,000-sf under-construction building.
CHICAGO-The former Rainbo Gardens roller rink is being replaced by 127 townhouse units and condominiums as well as 15,000 sf of retail space that is expected to spark activity along the 4800 block of North Clark St.