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CHANDLER, AZ-City council says "yes" despite neighborhood opposition to the Chuparosas development. Pittsburgh's Gustine Co. has 11 acres for retail and Scottsdale's PB Bell Cos. has 14 acres for multifamily use. A church holds the balance of the acreage.
CHICAGO-A below-market rental rate and "generous" tenant improvement package prompts Bruce Farrell Dorn & Associates, a firm that serves as State Farm Mutual Automobile Insurance Co.'s claims litigation department, to renew a 26,550-sf at 120 N. LaSalle St. three years ahead of expiration.
FORT MYERS, FL-Metro Investment Fund LLC paid Metrovest LLC $1.9 million for the approximately 26,000-sf tilt wall construction building. It was about 23% occupied at the time of the sale, but the new owner has plans to lease it up.
VISTA, CA-Buchanan Street Partners arranges the construction and equity financing for Burke Real Estate Group, which is using the funds for the development of its Burke Sycamore Business Center II industrial project.
IRVING, TX-Northwestern Mutual slides in Cousins Properties for leasing and management of the 161,400-sf 511 Carpenter in the Las Colinas Urban Center, making the switch without bringing the assignments to market.
HOUSTON-The Hattiesburg, MS investment group parts with land near the Bush Continental Airport. The buyer is a Houston investor who's not announced plans although the land is prime fodder for industrial development.
TORONTO-The Canadian public company, which is liquidating all assets except its interest in Trizec Properties Inc., sells the Olympia Centrum retail center in Brno and a development site located outside Prague in separate transactions totaling $24 million.
RANDALL'S ISLAND, NY-A private/public effort will bring a $37 million track and field center to Randall's Island on the site of a former world-class stadium. The project is slated to be completed next summer.