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HOUSTON-Dubbed the Navisys Group, the six-broker team is led by Clint Harrington, president, and Peyton Collins, senior managing director. The group hits the streets with a three-million-sf portfolio, of which one-third is owned by McCord Development.
AVONDALE, AZ-Construction has just started on the Gateway Office Park, a class A complex with 14 buildings and 66,200 sf. Completion is ticketed for March 2004 on the 7.5-acre development at the junction of Interstate 10 and Loop 101.
CHICAGO-A 10,750-sf lease with insurance brokerage and employee benefits consulting firm Palmer & Cay helps Prentiss Properties Trust reach that plateau two years after losing Aon Corp. to 200 E. Randolph St.
SAN FRANCISCO-Locally based industrial REIT AMB Property Corp. agrees to acquire 37 airfreight buildings located adjacent to seven international airports in the US. From privately held International Airport Centers, with which AMB is now planning a 50/50 venture that will develop more near-airport facilities.
NORWALK, CA-Pacific Coast Capital Partners provided short-term bridge financing and mezzanine debt while a senior loan is interest-only and priced on a floating rate. Buchanan Street Partners arranges the financing for Sonnenblick-Del Rio Government Acquisition Fund I's acquisition.
HOUSTON-Studley's new team in town pulls five brokers from the Trione & Gordon and CB Richard Ellis ranks in a replacement of an office that closed about 18 months ago. More so than before, the plan is to compete for Houston's tenant representation work.
BEVERLY HILLS-A local investment group has taken the keys to Glendale's premier revitalization project, the Glendale Marketplace. Once the site of abandoned and vacant buildings, the shopping center now generates more than $450 per sf, making it one of the most successful retail developments in Southern California.
NEW YORK CITY-After a four-year search, Clifford Chance US LLP, the world's largest law firm, signs a 20-year lease for 380,000 sf at 31 West 52nd St., the former headquarters space of Deutsche Bank.
HOUSTON-Investors Management Trust acquires the 330-unit Villagio and 296-unit Palm Court, both foreclosed upon two years ago by Lehman Brothers. The Villagio was on the market for $17.5 million and Palm Court for $16.6 million.
PHOENIX-California couple, looking for a stabilized property and good cash returns, spends weeks scouting multifamily properties for a first Phoenix investment. The end result is a $1.7-million expenditure for 49 units in the northwest Valley.