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HACKETTSTOWN, NJ-The cost of the new facility, which will combine the industrial company's existing Compac Corp. manufacturing operations at two other locations in the Garden State, has been placed at $18 million.
ATLANTA-Faison Associates of Atlanta loses out, as New York-based owner Teachers Insurance Annuity Association switches leasing and management players, selecting the Atlanta office of JLL.
HOUSTON-David Fournier is now a director for Holliday Fenoglio Fowler, partnering with director Bill Miller to expand the multifamily sales practice. Fournier is particularly well versed in the affordable housing sector.
NEW YORK CITY-A panel of real estate developers at a REBNY luncheon yesterday outlined the reasoning behind their decisions to build speculative properties in the Big Apple under the current market conditions.
DENVER-The retailer, which recently filed for Chapter 11, is closing eight stores throughout the state. The chain will close a total of 24 stores in this reorganization.
MELBOURNE, FL-P.A.C. Land Development Corp. sold the three-year-old, 280-unit apartment complex to Thomas Day Properties for $26.5 million or $86.58 per sf. The cap rate on the wood frame-stucco-clad structure at 300 Tuscany Way was 6.42%.
BROOKLYN-Buyers are taking an interest in the Brooklyn multifamily market. One 11-builiding 1,050 unit apartment portfolio sold for $60 million, while a 35-unit affordable housing property sold for $1.45 million.
CHANDLER, AZ-A Mesa engineering firm saw the potential in a 15,026-sf industrial building at Chandler's Arizona corporate Park North. It will use a portion of the property for its offices and subdivide the remainder to sell as warehouse and office condos.