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BONSALL, CA-Mnshed N. Al-Mahmodi of La Mesa picks up the 42-unit Brisas Del Este apartment complex from San Diego-based Bonsall Cielo LLC. The multifamily asset, which dates back to 1987, stands at 31916-18 Del Cielo Este here.
ATLANTA-Chartwell Development Partners, headed by Nixon Jefferson and Ralph Williams, is completing a 209-unit, 22-story multifamily venture on East Paces Ferry Road across from Sobu Flats in Buckhead Village.
MAYNARD, MA-QuadTech, Inc. renews for 19,000 sf at 5 Clock Tower Place, the company's worldwide corporate headquarters since 1999. Restructuring of the new lease enabled it take advantage of the current market's lower rates.
BRENTWOOD, CA-A group of individual developers from Marin County join forces to acquire the property and satisfy 1031 Exchange requirements. The transaction's sub-7% cap rate, a new low for the region, is an indication of "huge pent up demand for grocery-anchored projects," according to one of the brokers involved in the transaction.
SYDNEY-In response to reports that it is working with an Australia-based real estate company to form a listed property trust that would hold US retail assets, CBL announces it is "exploring a transaction that would involve the company's existing community center portfolio.
PHOENIX-California buyers are border jumping to metro area for multifamily buys, getting in some cases double returns on their investments. The exodus pushes the city to third place in a recent study of the top five buyers' markets.
LYNCHBURG, VA-The city gets its first Extended Stay America Inc. property with the opening of a new 101-room hotel on University Blvd. The estimated development cost is somewhere around $5.5 million.
MEDLEY, FL-The distributor of after-market automotive collision replacement parts is moving a few miles away to Beacon Station in a 10-year deal worth an estimated $5.72 million. The company plans to move in November.
BOLINGBROOK, IL-While the 111,570-sf in this southwest suburb is on the market, smaller centers in northwest suburban Elk Grove Village and Schaumburg trade for $148 per sf.
LONDON-REIT Asset Management has continued the refocusing of its retail holdings. In its latest deal, it has paid Prudential Life Fund and Shell Pensions Trust pounds $160 million for the 542,000-sf Chequers shopping center in Maidstone, Kent.