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HOUSTON-JMG Developers starts with 10 acres and a 200,000-sf building recently vacated by Mosher Steel Co. and options the 14-acre balance of the infill site west of the CBD. The plan calls for retail development as well as its specialty, multifamily.
LONDON-The London housing market weakened further during the second quarter of 2003. Prices across London fell by 2.8% in the three months to the end of June 2003, the third quarterly fall in a row, says estate agent Chesterton.
CHICAGO-According to the city, even a Metra parking lot would be preferable to residential redevelopment at 3704-30 N. Milwaukee Ave. The city hopes to acquire the 42,600-sf site for industrial redevelopment or office use.
PHOENIX-The industrial business park rallies leases from Visar Corp. for 11,773 sf and Granberry Supply Corp. for 8,705 sf. One move-in is set for August and the other takes place in October.
DENVER-A former tennis star has entered the commercial real estate as more than just an investor, with the purchase of a nearly 100-year-old local firm that specializes in retail.
PALO ALTO, CA-The provider of business integration software is acquiring the four buildings that comprise its corporate headquarters here and has signed a 51-year lease for the land beneath the buildings.
ATLANTA-The former head of real estate operations for locally-based Lend Lease Corp. will direct Wells Real Estate Funds' acquisitions, dispositions, property management, construction and leasing groups.
NEW YORK CITY-Goldman Sachs signed a 425,000 sf lease renewal at One New York Plaza. While no financial details were released, Trizec Properties says it is the largest deal by lease value the office property REIT has completed this year.
PLANO, TX-The 1031 Exchange buyer uses proceeds to buy a 7,500-sf building, leased for the long term to Blockbuster, after the broker convinces the owner to part with the asset at 1921 W. 15th St. in Plano.
SCOTTSDALE, AZ-In a $9.9-million deal, Wireless Retail inks a five-year lease for 90,000 sf of office space at 10001 N. 92nd St. The company is taking space previously built out for a Vanguard Group call center.