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DALLAS-AmeriSouth gets a $1.1 million note for $600,000 and then forecloses on a 74-unit complex in North Dallas, while doing a straight-up deal for another 74 units in Irving that GMAC took over awhile back. About $1.2 million will be spent on the rehabs.
BAYTOWN, TX-San Jacinto Court, acquired by LaSalle Bank in a 2002 foreclosure, has been sold to a California-based investment group. The 52,789-sf shopping center was 54% occupied at closing.
LOS ANGELES-The blazes sweeping through Southern California appear to have had little direct impact on commercial real estate, but damage assessments are just beginning.
LONDON-US-based casino operator MGM Mirage has reached an agreement to open a 300,000-sf resort casino at the Olympia exhibition centre in Kensington, West London.
ALEXANDRIA, VA-Financing to the tune of $23 million for a 110,000-sf office building in Old Town Alexandria gets put in place by NorthMarq Capital Inc. on behalf of property buyer Carr Capital Corp.
SOUTHFIELD, MI-Grubb & Ellis has recently concluded two leases, one of industrial space in Madison Heights, and the other of office space in Southfield.
CHICAGO-According to Northern Realty's most recent survey of State Street retail in Downtown Chicago, vacancy rates are up considerably. But that's because of an addition of more than 1 million sf lately, not a declining retail trade.
WELLESLEY, MA-Hastings Village, a 52-unit affordable housing project proposed six years ago for Hastings Street, receives its approval from the state's court.
DENVER-The University of Colorado Health Sciences Center whittled down 11 submittals and chose four finalists in its search to find a developer to purchase and redevelop its massive medical campus in east Denver.