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CORAL GABLES, FL-The Texas-based REIT paid about $244.76 per sf for the class A BAC Colonnade Office Tower, which contains 210,000-sf on 11 stories. The building was transferred to Crescent's portfolio after the REIT acquired BayView Colonnade LLC.
CHICAGO-Pathway Senior Living and Neighborhood Housing Services are partnering to develop the 114-unit, $18.6-million Victory Senior Centre of Roseland in the 10400 block of S. Michigan Ave. for low-income senior citizens.
VIRGINIA BEACH, VA-The 1.3 million-sf Lynnhaven Mall comes under new ownership with General Growth Properties' recent acquisition of the shopping center in a $256.5-million transaction.
PALO ALTO, CA-Carr & Ferrell LLP has leased 24,000 sf in a two-story class A building at Equity Office Properties' Embarcadero Place complex in Palo Alto. The technology law firm is consolidating operations located in two nearby buildings, one of which is in the complex.
ROMULUS, MI-The architecture firm has won its 14th award for their design of McNamara Terminal at the Detroit Metro Airport. The award honors the 2 million sf terminal's passenger tunnel, which features an ever-changing light, sound and art-filled sensory experience.
BATON ROUGE, LA-The Miami-based REIT finds 71,000-sf worth of tenants to backfill space at a 174,000-sf retail center in Baton Rouge and another property in Galliano that were vacated by Kmart in December 2002.
PHOENIX-A hospice, family center and travel agency find new locations in Phoenix, with one lease closing on the eve of the building's sale to a Los Angeles investor. The package has three- and five-year leases with payouts of $170,000 to $530,000.
MIAMI-Nick Luaces Design Associates of Coconut Grove will design the public areas and the sales center for the 27-story emerald glass luxury condominium tower being developed by SunVest/Hamilton here.
FEDERAL WAY, WA-Lahka Properties sells the Heron Building in Federal Way to the Gerlicher Company for $212 per sf, a record high for the Federal Way market.