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MANHATTAN BEACH, CA-Wells Real Estate Investment Trust II acquires the two class A office buildings from a joint venture of Hines and GE Real Estate for an undisclosed sum. Industry sources peg the price at $90 million.
KANSAS CITY, MO-Hines Suburban Office Venture with GE Real Estate makes its third acquisition, acquiring 2345 Grand here from a joint venture of San Francisco-based Shorenstein Co LLC and IBM.
HOUSTON-Gerald D. Hines will make a rare public appearance to share insights and anecdotes from a fabled career, taking the floor as the keynote speaker at the 38th annual conference being held May 24-27 in Houston.
DALLAS-The 17,000-sf building at 2552 Merrell Road passes to a Dallas investor who owns 15 other properties in the Hines North Industrial Park. The deal, including financing, closes in three weeks.
DENVER-Houston-based Hines is believed to have the inside track to an office building for the Environmental Protection Agency where a former US Post Office Terminal Annex building now stands.
DENVER-Steven Shores has been involved in such projects as the Progressive Insurance Regional Headquarters in Colorado Springs, the Denver Postal Annex site and 4600 S. Syracuse. Douglas McKinnon now focuses on regional sales activities for a Hines Interests affiliate.
CHICAGO-Consoer Townsend Envirodyne, a tenant since the building opened in 1980, renews a 74,000-sf lease while affiliated company McClier will relocate into 43,000 sf from 401 E. Illinois St. later this year.
ATLANTA-The 600-employee Downtown law firm is expanding and needs more space than the estimated 210,000 sf it currently occupies on 10 floors at the Bank of America Plaza tower. However, the firm's 15-year lease at the 12-year-old bank building runs to 2007.
SCOTTSDALE, AZ-The search is under way for a lead tenant to jumpstart construction at a North Scottsdale site surrounded by the Desert TPC Golf Course. Hines expects to begin work in the next 12 months on the three-building office project.
HOUSTON-The renovated Nabisco cookie factory, now owned by Texas Medical Center, takes the medical office building award after an extensive renovation. Other wins go to BMC Software, American General, Granite, Transco and the "his and her" CBD towers.