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LA MARQUE, TX-An investment group from Phoenix, set up solely to buy single-tenant, net-leased retail, gets a 20-year lease that's into the third year of the run. The highest check and closest to the asking price of $4 million-plus closed the deal.
MUKILTEO, WA-Travis Industries Inc. signs a 12-year lease for a manufacturing building at Harbour Pointe in Mukilteo. The lease provides more than enough room for the company to consolidate five separate facilities in the Seattle-area cities.
NEW YORK CITY-Larry Silverstein outlined plans for the former World Trade Center site noting that he's "totally confident" courts will rule in his favor regarding insurance claims he expects will finance the rebuilding process.
LOS ANGELES-The investment management affiliate of CB Richard Ellis Inc. makes five personnel changes via hires and promotions. Mark Zikakis, marking his fifth year with the group, and Todd Anderson, newly hired, are named senior directors.
LOS ANGELES-LA developer Richard Paek gets construction financing for Berendo Tower, a project under the MTA microscope in a rare bid to build above the subway. The plan includes 77 residential units and 9,000 sf of street-level office and retail condos.
UNION, NJ-TriZetto Group, which serves the healthcare business, adds three years and more than 22,000 sf to its presence at NUI's Liberty Hall I Building. Studley arranged the transaction.
LONDON-The Ashtenne Industrial Fund, set up by Ashtenne Holdings and Morley Fund Management has attracted pounds 55 million ($90 million) in new investment from two institutions.
VICTORVILLE, CA-The Sagebrush Properties LLC affiliate of pet food maker Nutro Products and packaged foods company ConAgra plan new facilities at 5,000-acre Southern California Logistics Airport.
SAN DIEGO-MONY Realty Capital has provided the fixed-rate financing, which Westcore Industrial Properties LLC used to purchase the132,685-sf REMEC Corporate Campus. The Kearny Mesa asset cost a total of $20.5 million.
NEW YORK CITY-During its annual shareholders meeting, W.P. Carey's president Gordon F. DuGan reported the firm broke records last year with $1 billion in sale/leaseback transactions; 2003 is also off to a record-breaking start with $272 million in similar deals.