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DALLAS-The 92.7%-leased shopping center goes to a first-time retail buyer, who accomplishes what two other would-be buyers could not: passing muster for a Portland, OR-based lender's strict requirements for a loan assumption.
FORT LAUDERDALE-Gary Hillert, who paid $3.5 million for the building, plans to try to lease it out. The building sits on 4.52 acres and has been vacant for nearly a couple of years, when U.S. Foodservice moved out.
FULLERTON, CA-San Francisco-based M&H Realty Partners buys the 589,078-sf MDC Center, a 30-acre power center occupied by Home Depot and Sam's Club, from Mitsui Real Estate. The "20-something" center is a rare find due to the tract size.
PHOENIX-The 170,000-sf, six-story office building will be ready to occupy by November 2004 as Phoenix moves another step forward to stake its claim to a piece of the biomedical industry. Designed by the SmithGroup, the builder is DPR Construction.
LAKE GROVE, NY-An affiliate of Archon Group bought the 251,955-sf Nobody Beats the Wiz Plaza, located here in this New York City suburb, from Investcorp for $38.3 million. The property was more than 86% leased at the time of the sale.
CERRITOS, CA-The longtime employer for the Mid-Cities area remains in the market, but changes the address. In September, Memorex consolidates several Santa Fe Springs offices for 21,480 sf of class A space at Cerritos Towne Center.
EULESS, TX-Sterling Centrecorp buys six acres abutting an eight-year-old, 55,182-sf Albertsons at the crossroads of Main and Harwood streets in Euless. The plan is to break ground on a 12,600-sf first phase in midsummer as lookers mull over pad sites.
CHICAGO-Kernersville, NC-based Dudley Beauty College will move from 1756 W. 95th St., which is being acquired for a new fire station, to a former police station in the Auburn-Gresham community that will be rehabbed by the school.