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LOS ANGELES-The partnership of LA-based Hanover Financial and Calabasas-based Upside Investments pays $21 million for the office property, with plans to convert it into a multifamily asset.
MALVERN, PA-The New York REIT pays a hefty $208.69 pr sf for the class A, 106,855-sf facility IKON has occupied under a synthetic lease since 1997. IKON leases it back under a 10-year operating lease.
WHITE PLAINS, NY-Wilson, Elser, Moskowitz, Edelman & Dicker LLP, has signed an expansion lease deal for 18,000 sf of space at 3 Gannett Dr. here, which increases the firm's leased space at the 160,000-sf property to 92,000 sf.
WASHINGTON, DC-The new 500,000-sf mixed-use project known as Terrell Place welcomes its largest tenant yet, as law firm Venable LLP moves into 240,000 sf of office and function space within the building.
GLENDALE, AZ-A call center got a fully furnished office with a six-year sublease on a 25,806 sf at 4425 W. Olive Ave. The space offers the company enough expansion potential for the next two years.
PHOENIX-The 14,000-sf stores in Glendale and Scottsdale are among 30 on the books for the drug store giant in an expansion of its Phoenix-area footprint. Construction begins next month with March 2004 openings marked on the calendar.
ORLANDO-Landlords are giving away everything, including the kitchen sink in some instances, in order to attract new tenants to a soft market where class A rents have dropped from $3 to $4 per sf in several troubled submarkets, says a new Colliers Arnold study.
LONDON-Miller Developments has sold its recently completed Whitehall II office development in Leeds to a Danish investor for pounds 25 million ($41.5 million).
CHICAGO-Investment in retail properties has risen in each of the last six quarters, to 21.8% of the total commercial real estate pie in the second quarter. Office properties still command the lion's share at 41%, according to CCIM/Landauer Investment Trends Quarterly.