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LAS VEGAS-A retail property here that local brokers say is worth between $15 million and $17 million is being sold at auction at the end of the month. The minimum bid is $13.5 million.
TRENTON, NJ-The announcement increases to 14 the number of downtowns getting state aid to promote mixed-use development around their transportation hubs.
MIAMI-Several companies are inking deals at the 1.4 million-sf, 30-building business park, which is undergoing major renovations. The third-quarter deals have an estimated value of close to $8.8 million. Year to date, 236,000 sf in leases have been signed at the park.
SAN DIEGO-Alvin E. and Ruth E. Sunday acquire the apartment complex from RSL Landis LLC as part of a 1031 Exchange transaction. Located at 3167 Landis St., the property houses a total of 13 units.
ORLANDO-SE Residential East LLC of New York sells the 50-unit, 100%-leased Bottlebrush Apartments in Palm Bay, FL to Bottlebrush Apartments Inc. for $1.4 million, or $27,500 per unit.
CHICAGO-Owners of more bread-and-butter properties are weathering the economic storms better than their counterparts holding class A assets, according to panelists at Chicago Real Estate Council's recent capital markets forum.
SEATTLE-The acquisition includes a 250-unit property in Bothell, WA that was built in 1990 and a 192-unit property in Renton, WA that was built in 1988. Essex now owns 4,140 units in the greater Puget Sound region.
LOS ANGELES-An 18-year employee with CB Richard Ellis' West Lost Angeles office has garnered the top spot on two of the company's organizations. Jeff Pion, the top CBRE producer in Southern California, has been named to both the company's board of directors and its Brokerage Operations Advisory Committee.