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PLANO, TX-The New York City buyer spends about $170 per sf for the twin six-story buildings and then brings in CarrAmerica to lease and manage the 97%-occupied, class A assets in the city's Legacy Town Center.
OCOEE, FL-This Orlando bedroom community of 30,000 permanent residents and the Orange County School Board jointly bought 360 acres from Coca-Cola Co. in 2000 for $3.75 million and are developing Ocoee Crown Point, a planned subdivision that calls for 30 acres of commercial space, 217 townhomes, 156 single-family and apartment residences and a high school.
HOUSTON-The Strategic Alliance Mortgage will powerbroker its clout, tantamount to that of a large corporation, to save on day-to-day operating costs and develop state-of-the-art information systems while member shopping in new markets.
CAMBRIDGE, MA-Revahertz Networks, a high tech start-up leases 6,809 sf at 139 Main St., a four-story, 38,000-sf office building in the heart of Kendall Square. The company is subleasing the space from Forrester Research.
PHOENIX-Red Bolt, a local electrical firm, swoops in to buy the former headquarters for Super Shuttle before it can come to market. The race to buy is tied to the size of the freestanding building and fenced yard.
BALTIMORE-The $80-million Centerpoint project makes significant progress toward completion with the recent topping out of the 17-story apartment tower, a residential portion of the massive mixed-use endeavor on the city's West Side. All construction is expected to be finished sometime next summer.
CHANDLER, AZ-The 40,000-sf Elliot Square at 1989 W. Elliot Rd. baits 15 to 20 offers with the winning offer coming from a California family trust, who ends up paying just $100,000 shy of the asking price for the Family Dollar-anchored asset.
SCOTTSDALE, AZ-Opus West is adding a 137,000-sf twin at its Northsight development in North Scottsdale. The five-acre project, though coming out as spec, builds in expansion opportunities for the first phase's tenant, JDA Software Group.
ASBURY PARK, NJ-The project, being developed by Kushner Cos. within the larger Oceanfront Asbury redevelopment, is expected to be under construction by early next year.