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NEW YORK CITY-Cresa Partners has solidified its tri-state New York presence by signing locally based FSI as its local-area property management guru. The deal is expected to increase New York-area revenues by at least 10%.
PHOENIX-Mike Bontranger, an 18-year Weitz employee, will takes over for Larry Mohr, who steps down to resume his role as senior vice president. The new top executive was working as a vice president and construction manager.
QUINCY, MI-Signature Associates negotiated the deal for the building located at 1146 East Chicago. Fluid Transfer Systems, a producer of under-hood air conditioning tube and hose assemblies, is headquartered in Troy.
WASHINGTON, DC-About 18 months after it last changed hands, the Jefferson Building gets a new owner with SSR Realty Advisor's $20 million acquisition of the site. The 72,000-sf office structure is currently 83% occupied.
DETROIT-The buyers, 500 Associates LLC, plan to transform the former office building into a shopper's hot spot or upscale bank. Realty experts believe the biggest immediate challenge for the company will be to secure tenants.
LONDON-Morley Fund Management has sold the freehold investment interest in Buildings 1 & 2, Kingmaker Court, Warwick Technology Park, Warwick to Standard Life for pounds 14 million ($24 million). The sale reflects a net initial yield of 7.29%.
LANSING, MI-The Municipal Employees' Retirement System of Michigan has chosen CB Richard Ellis to market the new park located in the I-495 interchange, which has been a popular business hub for many years.