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JACKSONVILLE, FL-The Oak Brook, IL-based REIT paid six separate owners $74.15 million or an average $147.65 per sf for a total 502,198 sf of community and neighborhood shopping centers in one of the company's largest bulk purchases this year.
NEW BRUNSWICK, NJ-The mixed-use Heldane Plaza, which is being developed by a local non-profit group, is expected to be under construction this fall with the help of the county-sponsored offering.
ROLLING HILLS ESTATES, CA-A buyer from Van Nuys acquires the combination office and retail property from a West Los Angeles-based seller. The 39,222-sf, three-building center is 63% leased.
ATLANTA-American Realty Advisors of Glendale, CA wouldn't disclose its purchase price. But area brokers familiar with the five-year-old, industrial asset estimate the total deal value at $20 million, or $58.69 per sf.
ANAHEIM, CA-The company will use an award-winning prototype design as the remodeling plan for the locations. Designed by LA-based Rothenberg Sawasy Architects, the design copped a Gold Nugget at a prominent industry gathering in San Francisco.
SANTA ANA, CA-The publicly held business park operator acquires the Orange County Business Center from a locally based investment partnership. The five-building development was 73% occupied, with more leases coming due before the year ends.
DETROIT-Grubb and Ellis leased a 52,000-sf industrial building in Novi, MI to Alcan Aluminum of Germany. At the same time, they have acquired several new industrial listings totaling over 260,000 sf available in Southeast Michigan. The company also reports that sublease office space has been moving fast in the
WASHINGTON, DC-The 270,000-sf office building on the corner at 1990 K St. prepares to welcome two new tenants to street-level retail spaces. Eatery Baja Fresh and the Washington Sports Club will open in spaces totaling approximately 20,000 sf by the end of the year.
SALEM, OR-The City Council has adopted a staff report from the Urban Renewal Agency clearing the way to move forward on plans to construct a conference center in the downtown area that may be as large as 72,000 sf when completed.