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FRANKLIN TWP., NJ-SJP Properties, owner of the four-building Somerset Research Center, has hired Cushman & Wakefield's Technology Group to fill the newly vacant space.
HOUSTON-Buchanan Street Partners of Newport Beach, CA, invests in its first Texas property, kicking in 80% of the equity while the JV partner assumes a first-mortgage Fannie Mae loan for the 103-unit Greenway Court near the Galleria.
SEATTLE-Although not quite complete, city government is busy packing up and moving over to the new City Hall building, which will be officially open for business on September 5.
NEW YORK CITY-Brookfield Financial Properties chair John E. Zuccotti will take the reigns of the Real Estate Board of New York in January. Zuccotti is an industry veteran with extensive government service.
DENVER-The long-awaited Hyatt Denver has officially broken ground in a ceremony held on Monday. The $349 million hotel, financed by tax-exempt revenue bonds and located directly across from the Colorado Convention Center, is expected to open in late 2004.
FRISCO, TX-The 33,663-sf Tweeters Center, which sits at the Preston Road entrance to the 1.6-million-sf Stonebriar Centre, sells to a Portland, OR-based investor who's marking his fourth purchase with 1031 Exchange capital from a portfolio sale.
BEAVERTON, OR-Golf Galaxy is one of several new retailers opening at the former Beaverton Mall, which is undergoing a $35-million renovation and expansion. The property owner is Vancouver, WA-based owner C.E. John Co.
TROY, MI-Vacancies in the 20% range are plaguing the city considered one of the strongest in Michigan as certain buildings struggle to lease and tenants move away. The city has seen vacancies rise from 4-5% to more than 18% vacant, a far cry from what the city has been used to in at least a decade.
PHOENIX-The Newport Beach, CA-based supplier signs a 20-year lease for a 20,725-sf project at Interstate 17 and Thunderbird road, one of two food warehouses being built for the firm in the metro area. Two other stores recently opened in the Valley.
WASHINGTON, DC-Working on behalf of one of its clients, American Realty Advisors invests in the office property at 2033 K St. The 120,000-sf building has an assessed value of $27.7 million.