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ANTHEM, AZ-An unsolicited $28.7 million offer buys a thriving retail complex: the 149,002-sf Anthem Marketplace, the Shops at Anthem and four undeveloped pad sites. With inline space at 96% occupancy, Regency's courting pad site prospects.
AHWATUKEE, AZ-A California exchange buyer bests several competitors with a $1.3-million offer for the 4,608-sf freestanding building leased for the next eight years to a Big O Tire franchise at a freeway-fronting address.
ATLANTA-The locally based subsidiary of European American Realty Ltd. has contracted to buy a one-acre Central Midtown lot for an undisclosed price next to the Federal Reserve Bank from Post Properties Inc. Area brokers tell GlobeSt.com the price will probably be in the $2-million-per-acre range.
NEW BRUNSWICK, NJ-The local development corporation will team up with Keating Partners and Rutgers University on a 186-unit residence hall with a parking garage and a retail level.
FORNEY, TX-Wal-Mart buys 20.4 acres for a 183,000-sf supercenter to bring the first national name to a fast-growing city 20 miles east of Dallas. Meanwhile, the Dallas-based land seller is working its 74 acres for another 367,000 sf of national attractions.
ORANGE, CA-The multifamily rehab specialists acquire the 460-unit California Oaks in Murrieta for $42 million and buy out Somerset Apartment Homes partner Bank of America in a $29.5-million deal. Eagle Real Estate Group now controls 17% of the Temecula/Murrieta Valley inventory.
WOODLAND HILLS, CA-Malls in Arcadia and West Covina will be among the first in the nation to get their own on-site power plants. The self-contained, environmentally friendly mini-power centers, which cost between $1.5 million and $2 million to build and can fill 60 percent of a property's energy needs, could be showing up at 12 more malls soon.
LANDOVER, MD-A one-time milk plant in the Cabin Branch Distribution Center is on target to become a combination office/warehouse property, now that Manekin LLC has gotten to work on redeveloping the 90,000-sf structure.