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NEW YORK CITY-The AFL-CIO Building Investment Trust begins a nationwide $400 million multifamily apartment housing program with a commitment for $34.9 million in funding toward a Kew Gardens, NY mixed-income multifamily project.
AUBURNDALE, FL-The 620,000-sf facility, 60 miles south of Downtown Orlando, houses "the largest Minute Maid operation in the world," Polk County business development director Jim DeGennaro tells GlobeSt.com.
STEAMBOAT SPRINGS, CO-The company will auction off 17 newly built condominiums in the Canyon Creek at Eagle Ridge development at the ski resort here. Although suggested opening bids are $100,000 for 2 bedroom and $200,000 for 3 bedroom units, 10 of the 17 condos will be sold absolute, regardless of price to the high bidders.
PHILADELPHIA-Although Center City's stock of converted and new multifamily rental buildings grew by 5,000 units since 1997, occupancy rates remain above 95%. The 25-story Grande luxury conversion joins Keating's 20-story Phoenix, and construction continues on P&A's 47-story St. James.
DALLAS-Southwest Sports Realty and a private investor from Arkansas pay Heitman in the low $20 per sf for a 1970s-vintage project in Brookhollow. At least $500,000 more will go into a repositioning play for a name not usually associated with the game.
SAN DIEGO-The research-based company acquires a 17.7-acre parcel in the Fenton Technology Park, with plans to move its corporate headquarters to the site. The acquisition, which has been in the works since last year, will allow Biosite Inc. to expand its facilities as the newly purchased parcel can accommodate up to 800,000 sf.
SCOTTSDALE, AZ-The estate company seals the headquarters relocation from Spokane, WA, by securing a class A deed for a 10,154-sf office building in the Sonoran Corporate Center. Wolff's been leasing 3,500 sf in Kierland.
LONDON-The Agora Shopping Centre Fund, set up earlier this year by Warner Estate Holdings and Bank of Scotland Corporate Banking, has made its seventh acquisition with the pounds 41.75 million ($70 million) purchase of the Pyramids Shopping Centre in Birkenhead, Merseyside.
WALTHAM, MA-The Cambridge Center for Chinese Culture is leasing 10,695 sf at 411 Waverley Oaks Rd. The 144,000-sf office building is located in the Waverley Oaks Office Park, an eight-building, one million-sf office complex.