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SAN ANTONIO-This morning, Texas officials, the US Army, Orion Partners and Weston Solutions celebrate the start of a 450,000-sf "first" for an active military base. The US Army South Command's move from Puerto Rico mortars the project's launch.
OSAKA, JAPAN-A real estate private equity fund managed by investment bank Morgan Stanley acquires the Hotel Il Monte in Osaka from GMAC Commercial Holding Asia for an undisclosed sum.
HANOVER PARK, IL-Marriott Distribution Services' sheds 448,120 sf in three states, saving the company more than $3.5 million, including a 72,480-sf sublease to Insight Enterprises Inc. at 6415 Muirfield Dr.
DETROIT-Two of the three Riverfront Towers, or about 575 units, will be sold as condos. The buildings were originally built 20 years ago by the Detroit Dowtown Development Authority.
PONTIAC, MI-Dutch auto industry supplier Akzo Nobel plans to develop a $30 million research center in metro Detroit. The facility will help support the company's ambition to be a bigger player in the car refinishing business.
GLEN BURNIE, MD-Petrie Ventures starts an $8 million redevelopment of the 410,000-sf Glen Burnie Mall. Upon completion of the work in 2004, the center will feature a 125,400-sf Target store, as well as two new restaurants.
MT. OLIVE, NJ-The chemical giant will use the space as an adjunct to its existing North American headquarters within Rockefeller's International Trade Center. Trammell Crow arranged the deal for the owner.