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SAN DIEGO-The Shidler Group snaps up the high-rise, office asset from Somera Capital Management. Located in downtown San Diego, the 18-story property encompasses 186,977 sf and features an adjacent 12-story parking garage.
SAN RAFAEL, CA-Buchanan Street Partners and Seagate Properties acquire the San Rafael Business Center, a five-building complex that is fully leased to a Lucasfilm subsidiary through 2004.
PHILADELPHIA-With the sale of Fox Run, a 196-unit property in Warminster, PA and Will-O-Hill, a 190-unit apartment complex in Reading, PA to its JV partners, the REIT completes its conversion to retail only.
AURORA, CO-The new development is the 160-acre Aurora Commerce Center, which the Indianapolis-based company says will have 2.5 million sf and a total retail value of about $125 million when completed. The company says it would like to be doing $200 million in business in the metro area on an annual basis.
DALLAS-The Dallas sellers turn over 12 acres and the one-time "home to the stars" to Home Depot while holding onto nearly seven acres for about 60,000 sf of big box retail development. Closed in recent weeks, the Bronco Bowl will topple in the coming weeks.
BRISBANE, CA-After acquiring the 55%-leased 210,000-sf class A office tower here for just over $22.7 million, Younan flips the building five days later to an overseas high-net-worth family it advises for $25 million.
BELLEVUE, WA-Schnitzer Northwest says it will reconsider the hotel component of its $500-million development next to Meydenbauer Convention Center if that facility isn't expanded, and convention center officials say they won't expand the convention center without assurance the hotels will be built.
SMYRNA, TN-The five-year lease will begin in December, the estimated completion date of the 240,000-sf facility being developed by Panattoni Development Co. at Southpark Distribution Center in the city.
PORTLAND-The Beverly Hills, CA-based real estate investment, fund management and services firm opens its first office in Oregon. Karen Stromme, a senior managing director with the company, will spearhead property management and real estate related services.