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SINGAPORE-The $200-million Singapore Flyer, to be completed in late 2005, will hold the world's highest observation wheel. Its foundation is a three-story terminal building comprising tourist-related speciality shops as well as entertainment and food and beverage outlets.
SANTA ANA, CA-The private investors acquire the 32,153-sf Santa Ana Square and see upside in higher rents, additional development. The 85%-leased center sold at a 5.8% cap rate to buyers who are looking beyond the immediate return.
ORLANDO-Beat Kahli gets an OK to build 1,000 more homes, or 209 fewer than he requested. In return, Kahli agrees to create 185,000 sf of light industrial space, a reduction from his original plan for 250,000 sf.
SAN DIEGO-Locally based Douglas Wilson Cos., which has provided real estate management and development services for the past 14 years, opens a new division focused on purchasing properties for either its own portfolio or joint ventures with financial partners.
DENVER-Major expansion and renewal is one of the top 10 deals in the local office market so far this year. Tenant is an example of a firm that not only wants to stay, but knows it can grow its business here as well.
BEAVERTON, OR-Liberty Mutual Insurance Group signs on for 22,000 sf in the office building anchoring the new retail, commercial and residential community being built around a light rail station in Downtown Beaverton.
DALLAS-Fairfield Residential gets more than 20 offers, but takes the one with a recognized reputation for closing what it puts under contract. Winner CNC Investments gets a 90%-plus occupied portfolio, with rent upside.
CLINTON TOWNSHIP, MI-The new 52,000-sf Nino Salvaggio Market, specializing in ethnic and eclectic foods, will be a testament to its founder who died in March.
CHICAGO-Construction Trade Associates, Inc. will pay the city $116,000 for four parcels in the Washington Park community and build 36 condominiums in six buildings. Two years ago, the city agreed to sell the same property for $5.
TUCSON-The 52-unit Tucson East Apartments at 8490 E. Old Spanish Trail brings in $2.1 million for a local seller while the 12-unit Villa Pacifica at 4207 N. 27th St. in Phoenix ropes $535,000 for its San Francisco seller.