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BEDFORD PARK, IL-The building located on 8.2 acres at 5001 W. 66th St. will be redeveloped for use by multiple tenants after being sold by the London-based food packager for $2.35 million.
PHILADELPHIA-With this renewal for an additional 15 years, the 53-story trophy office tower at 1735 Market Street secures 98% occupancy. Newton, MA-based HRPT Properties Trust is the owner. The aggregate value of the lease is in excess of $35 million.
DENVER-A new report on the habits of conventioneers concludes that they spend more here than the average spent in compariable cities, which is good news for the expansion of the convention center and its attendant development.
DALLAS-The owner of the repositioned center gets a five-year loan from Prudential Mortgage Capital, using a Washington Mutual ground lease and 104,000 sf of shadow retail as collateral for the financing at a 4.80% interest rate.
VERNON, CA-V&L Produce completes the takeover of a 45,000-sf build-to-suit warehouse on two acres at 2550 E. 25th St. The firm's new building, acquired from Dynamic Builders, has 22,000 sf of cooler space.
MEDFORD, MA-SWW Realty Trust sells an 11,000-sf building at 226 Mystic Ave. to Gurdwara Guru Nanak Darbar. The group paid one million dollars for the property and plans to convert the building into a Sikh Cultural Center.
IRVINE, CA-Irvine Residential Highrise LLC starts work on Marquee Park Place, two 18-story towers with 232 units and price tags of $525,000 and up. Designs will range from 1,275 sf to 2,100 sf.
CLEAR LAKE, TX-A NASA contract teaming the two has sparked a 33,509-sf lease by Lockheed and a 6,618-sf expansion by Wyle, which leases the twin in the Clear Lake project along Hercules Drive. Lockheed commits for 10 years.
LAKEWOOD, CO-Acording to the brokers involved in the deal, one motivating factor in the sale was that the property is near a future light rail station.
DALLAS-Summit Properties today brings the last of seven multifamily assets in Texas to market, saving the trophy for the farewell salute. The 97%-leased offering beside the Galleria Mall neighbors four million sf of retail and 4.8 million sf of office space.