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MIAMI-The REIT demolished the center in 1999 and has been working on a phased redevelopment of the property. The approximately $7 million Phase IV includes a 45,000-sf LA Fitness Sports Club and 29,422 sf of office and retail space that is set to be completed in the first half of 2004.
ORLANDO-The three-year-old New York-based airline plans to break ground in the next 12 months on an 80,000-sf flight-training center and a 70,000-sf hangar near the recently completed Heintzelman Boulevard on the east side of Orlando International Airport.
PHOENIX-The medical supply firm finesses a three-year agreement, valued at $550,000, for office and distribution space vacated 10 months ago by Albertsons. Western Medical turns on the lights in October.
PHOENIX-A Gilbert couple swaps 1031 Exchange capital from a multifamily asset for the long-term leased government building in the Tonto National Forest. The single-story office building was a build-to-suit in 1984 for the USDA.
SAN DIEGO-Aardema Family Partnership acquires the asset from Kreiss Enterprises, which will continue to utilize the facility as its central headquarters. Encompassing 58,400 sf, the property stands at 8525 Camino Santa Fe in San Diego.
LONDON-The Bank of Ireland may outsource its entire UK property portfolio estimated to be worth pounds 120 million ($193 million). Nelson Bakewell has been commissioned to carry out a feasibility study.
BOULDER, CO-Natural and organic food retailer reports net income soaring in second quarter 2003 by 45.7%. Sales were up as well, as management sees continued long-term growth for the company.
ROBBINS, IL-The 30-year HUD-insured Section 232 loan provided by Chicago-based Cambridge Realty Capital Cos. replaces a $20-million mortgage held by American National Bank & Trust.
POUGHKEEPSIE, NY-An Englewood Cliffs, NJ real estate management firm has acquired a 288-unit rental housing complex here for $20 million, according to officials with Marcus & Millichap Real Estate Investment Brokerage Co.