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PHOENIX-Nationwide Realty Investors turns over the 273,973-sf Hohokam Towers, home to the University of Phoenix, to RREEF. The three-building sale is sure to rank in the top office transactions this year in the metro.
IRVINE, CA-Bascom's Premier gets 44,538 sf of executive office space from Western Business Centers. The centers are located in three buildings owned by the Irvine Co., which cornered a trio of five-year leases with the ownership change.
ALAMEDA, CA-The office, R&D and light industrial complex sits on 25 acres of waterfront land at Harbor Bay Business Park. A related entity controls another 75 acres adjacent the development.
HOUSTON-A Houston investor gets a 71,126-sf park with ample repositioning upside. First comes a full overhaul of the 23-year-old, three-building Greenbranch Business Park in North Houston and then comes the collection on the upside.
LOS ANGELES-Upside Investments is in escrow to acquire the landmark high-rise for a mixed-use project, with work possibly starting in September. The 340,000-sf office building has been carved into 260 apartments and 25,000 sf of retail space.
DALLAS-A Cushman & Wakefield senior director says the mandate to remove old high-tech cabling from commercial structures has the potential to kill deals as building owners and tenants argue who is responsible for the cost to comply.
ATLANTA-After two years of public discussion, the county has approved the 515-acre Crabapple Crossroads which could have 100,000 sf of office and 100,000 sf of commercial space, according to a published report.
FRANKLIN TWP., NJ-SJP Properties, owner of the four-building Somerset Research Center, has hired Cushman & Wakefield to fill the newly vacant space.
ORLANDO-Daryl M. Carter, Jim Heistand and Jeffrey Douglas bought a 90-acre property in Boynton Beach, FL last September from for $21.75 million or $5.55 per sf and sold off 29 acres last week for $12.2 million or $9.66 per sf.
BETHESDA, MD-Having just recently closed on $125 million in financing deals for six Washington, DC area shopping centers, Phillips Realty Capital maintains a heavy involvement in the region's thriving retail market.