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PHOENIX-The capital infusion opens the door for purchases of undervalued and distressed properties in the city and other areas of the Southwest. The closing docket already includes properties here and Peoria.
THE WOODLANDS, TX-PM Realty Group and Binswanger/Conine & Robinson take over management and leasing duties, respectively, for a 45-building portfolio as the Woodlands cuts the 50-employee division.
ORLANDO-Robert L. Bryan leaves JLL as senior vice president and Florida region manager to become senior vice president of asset management at Commercial Net Lease Realty.
LONDON-The UK government must take a broader view of the massive Thamnes Gateway development area to the east of London, which has been earmarked for 120,000 new homes according to Michael Ward, chief executive of the London Development Agency.
HOUSTON-McLeod USA holds onto its five-year address at 9801 Westheimer Rd. in a new commitment for 5,176 sf. On the north side of town, a newly formed oil and gas company lines up 1,179 sf for a first location.
FORT WORTH-Equity Office Properties, holding firm to its Dallas properties, gets $17.2 million for the 239,095-sf Summit Office Park from Klabzuba Properties, which puts in Centra Asset Partners to oversee the BOMA International suburban mid-rise winner.
PRINCE FREDERICK, MD-Development of the 92-acre Patuxent Business Park moves forward with the state's donation of $2.5 million to facilitate the building of the campus's first structure, a 22,000-sf class A office facility.
ONTARIO, CA-A 9.3% vacancy rate and 2003 net absorption of 1.17 million sf are signs San Bernardino/Riverside County "has outgrown its identity as an emerging market," says Grubb & Ellis SVP John Ewart.
MINNETONKA, MN-The drug store chain will sell or close its 77-store Drug Emporium subsidiary, and weed out some of its own weaker stores under the reorganization.
WALTHAM, MA-Sam Park and Co. wants to construct a two-building, 640,000-sf office park on a 10-acre parcel. The site, which would be developed in a joint venture with Stonybrook Brook Trust, is currently being used as an auto parts junkyard.