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BALTIMORE-A new life is in store for the 103-year-old Raleigh Building as Boston-based GFI Properties LLC joins with two other groups to propose the acquisition and redevelopment of the 350,000-sf office/industrial building.
THOUSAND OAKS, CA-The seller of the 58,250-sf Northstar Plaza retail and office center gets about $10.8 million after buying it for $8.5 million and holding it for less than a year. The payoff came by filling 3,000 sf and boosting rents to market level.
THE WOODLANDS, TX-Kirby's, one of Dallas' most popular steakhouses, will break ground soon on a two-acre tract for an 8,500-sf restaurant in the Woodlands Town Center. At last reporting, the Woodlands was getting $7.51 per sf.
IRVINE, CA-The government will auction the 3,700 acres in the fall, dividing the El Toro land into four parcels for private developers to acquire. The starting date was one of the remaining issues left to decide at the time the GSA announced the sale.
CHICAGO-A 6,000-sf addition to a 2,500-sf outlet will include a training facility and test kitchen. The franchisee will build on land acquired from the city for about one-third of the $405,000 appraised value.
ATLANTA-John Wieland Homes & Neighborhoods wants to add 197 shelter units to its already approved 476 multifamily units at the year-old, multi-million-dollar Providence community near Queen Mill Road and Veterans Memorial Highway.
LONDON-Construction is about to begin an a residential and retail development of the Millwall Fire Station site in Byng Street, Docklands. The project will also create a new fire station to serve the Isle of Dogs area.
DALLAS-The Dallas hotelier uses 19 hotels as collateral for a two-year loan, with a 37-month extension option. The deal puts Wyndham at the 65% mark for lowering debt, now at $2.8 billion, to secure lenders' nods to extend the maturity date for senior facilities.
RANCHO CUCAMONGA, CA-One buyer spends about $1.6 million for a vacant tract in a plan to build 195,000 sf of speculative industrial space while another puts up $720,000 for a shuttered restaurant and lounge for conversion to a medical office building.