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DALLAS-A homebuilder re-enters the multifamily sector with a deal embedded with upside potential. Not only did the New York City seller slash the list price, but the Peavy Road complex, in need of repairs, is just 50% leased.
MEDLEY, FL-The company has paid $1.05 million for a 55,000-sf tract of land at Beacon Station where it plans to build a gas station, car wash and mini-mart. Also, the same buyer recently bought another piece of land at the business park where it is developing a similar facility.
HIGHLAND PARK, MI-Burton-Katzman Development announced a housing and retail plan at the site of a former Sears store, which was demolished in 2001. Infrastructure work will begin this fall.
DENVER-The latest Transwestern Outlook report shows tenants have ceased returning space to the market, although the office/flex market remains flat experiencing no significant activity so far this year.
LONDON-Portsmouth City Council has granted planning consent to convert part of the historic Vulcan building at Gunwharf Quays, The Berkeley Group and Land Securities' mixed-use development at Portsmouth Harbour.