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LOS ANGELES-The Beverly Hills-based bank will occupy up to 310,000 sf--12 of 52 floors--at Thomas Properties Group's Arco Plaza. In a separate deal, the City National Bank building sells for $29 million to a local investment group.
ORLANDO-Taking advantage of a slight leasing recovery in the metro area's 90-milion-sf industrial real estate market, the senior directors in the local office of Advantis Real Estate Services Co. closed on transactions totaling 110,763 sf and valued at $4.2 million in a one-week period.
CHICAGO-Low-income housing tax credits and bonds are a major part of a $31-million package financing the renovation of the 312-unit Jackson Park Terrace multifamily rental complex in the city's Woodlawn community.
MONTVALE, NJ-Volvo Financial and Benjamin Moore's deals, totaling 21,245 sf, bring One Paragon Dr. to 100% occupancy. Ivy's Marion Geddes arranged the signings.
COLUMBUS, OH-KeyBank Real Estate Capital provides the secured line of credit through a fully underwritten commitment and subsequent syndication. Glimcher Realty Trust is using the majority of the funds to repay outstanding debt on a previous credit facility and maturing bridge loans.
BOSTON- The board of the Boston Redevelopment Authority accepted the staff recommendation to select New Atlantic Development Corp. as the redeveloper of the Bates Arts Resource Center on Harrison Avenue in the South End.
HIGHLAND PARK, IL-Boston-based BC HP Storage LP has bought the 572-unit, 56,600-sf, four-building property at 1505 Old Deerfield Road, with plans to add 42 units and 5,000 sf. Builders Bank hopes to expand lending to the self-storage sector.
SCOTTSDALE, AZ-Equity One Inc. inks a deal for a spec suite at Scottsdale's Raintree Corporate Center while Cactus Cash subleases office space at Phoenix's Camelhead Square. Both are three-year leases.
SAN FRANCISCO-The $22-million urban infill project by developer Henry Lambert will add 82 housing units near PacBell Park. Construction is scheduled to begin in the second quarter of 2004.
WASHINGTON, DC-The organization found that the three major apartment market indicators all scored over the 50-point mark, an indication that a turnaround in high vacancy rates and negative rent growth could be around the corner.